Bangalore-based aviation venture development company Jupiter Aviation may pick up a stake in the proposed maintenance, repair and overhaul (MRO) unit of European aircraft manufacturer Airbus Industrie. Jupiter Aviation has been promoted by ex-BPL chief Rajeev Chandrasekhar and is a venture development subsidiary of Jupiter Capital, a venture development and investment firm. Jupiter Capital has invested in infrastructure, entertainment, technology and aviation. State-run aerospace major Hindustan Aeronautics Limited (HAL) is also planning to team up with Airbus for the MRO that will come up in Nashik and Bangalore.
The Rs. 450 crore-MRO project is a commitment by Airbus to the Indian government for buying 43 aircrafts for Indian Airlines, costing nearly Rs. 10,000 crores. Airbus is in talks with eight international MRO operators to run the project in India. The talks are at an advanced stage. The investment details and nature of the MRO unit will be finalized by the international MRO operator, who will pick up a stake in the project.
Earlier, Jupiter Aviation and Airbus’ parent company and aerospace group EADS had signed a strategic memorandum of understanding (MoU) to collaborate in aviation ventures focusing on lifecycle support and training. Jupiter investments in these aviation ventures are expected to exceed $250 mn (nearly Rs. 1100 crores). The company is also investing in and launching the country’s first fractional share aviation company, to be called PrivateAir, and is negotiating the purchase of a fleet of business jets and corporate helicopters.
Read the Business Standard article.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment