Friday, February 07, 2020

Airbus, Adani Defence join hands to explore aircraft services market

Lucknow Airbus India and Adani Defence signed an agreement on Thursday to leverage synergies in aerospace and aircraft services, a fast-growing sector that is estimated to generate annual business worth USD 6.3 billion in the country by 2025.
 The memorandum of understanding (MoU) was signed by Anand Stanley, president and managing director of Airbus India and South Asia, and Ashish Rajvanshi, the head of Adani Defence and Aerospace.
 Airbus and Adani Defence will explore opportunities for collaboration in the area of aircraft services for Indian and South Asian market, the Airbus said after signing of the pact at the DefExpo2020 in Lucknow. Airbus' global services forecast envisages the Indian aircraft services market to grow to USD 6.3 billion by 2025.
 "Airbus is not only the world's leading civil aviation company, but also a major innovator and provider of aircraft services. This MoU demonstrates our commitment to support the development of India as a world-class services hub for aerospace products," Stanley said.
 06/02/20 PTI/Economic Times
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