To tap opportunities in the defence MRO segment, Air India Engineering Services on Monday joined hands with Tribhuvan Technologies for a strategic partnership to help the national carrier diversify its revenue stream.
As there are not many Maintenance, Repair and Overhaul (MRO) facilities in India, the segment provides significant growth opportunities. While Air India does all these work within the country, most airlines carry them out overseas, at a much higher cost.
For the venture, Air India Engineering Services Ltd (AIESL) has tied up with Tribhuvan Technologies, part of the diversified SREI group.
The partnership is likely to enhance the existing business of AIESL by adding new but complementary products and service portfolio, Air India said in a release.
“The venture will primarily focus on the entry into defense MRO business and aircraft component and aviation equipment leasing business,” it added.
Through the partnership, AIESL would also look to expand its customer base.
Tribhuvan Technologies is the aerospace and defence arm of Kanoria Foundation.
AIESL’s Chief Executive Officer H R Jagannath said it would be a “major step” if the opportunities come through as expected.
“If we move to the defence side and if what we hope comes through, it will be a major step forward. We are having some expectations... We have always been dealing with the civilian side,” he noted.
Noting that AIESL has the captive business of Air India, Jagannath said this expertise can be used for MRO works of aircraft, mostly from the Air Force.
24/10/16 PTI/The Hindu Business Line
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As there are not many Maintenance, Repair and Overhaul (MRO) facilities in India, the segment provides significant growth opportunities. While Air India does all these work within the country, most airlines carry them out overseas, at a much higher cost.
For the venture, Air India Engineering Services Ltd (AIESL) has tied up with Tribhuvan Technologies, part of the diversified SREI group.
The partnership is likely to enhance the existing business of AIESL by adding new but complementary products and service portfolio, Air India said in a release.
“The venture will primarily focus on the entry into defense MRO business and aircraft component and aviation equipment leasing business,” it added.
Through the partnership, AIESL would also look to expand its customer base.
Tribhuvan Technologies is the aerospace and defence arm of Kanoria Foundation.
AIESL’s Chief Executive Officer H R Jagannath said it would be a “major step” if the opportunities come through as expected.
“If we move to the defence side and if what we hope comes through, it will be a major step forward. We are having some expectations... We have always been dealing with the civilian side,” he noted.
Noting that AIESL has the captive business of Air India, Jagannath said this expertise can be used for MRO works of aircraft, mostly from the Air Force.
24/10/16 PTI/The Hindu Business Line
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