Air India's subsidiary AIESL has forged a partnership with Singapore Airlines' engineering arm, as AIESL seeks to get a foothold in the global MRO market besides tapping the local business.
Under a non-binding Memorandum of Understanding (MoU) signed between Air India Engineering Services Limited (AIESL) and SIA Engineering Company (SIAEC) last week, the two "will collaborate to offer line maintenance and ancillary services at various airports in India as well as engineering training".
Besides, the two companies will offer a wider spectrum of services and customised packages to domestic and foreign airlines operating in and out of India, AIESL said.
According to a recent industry report, the global aircraft maintenance, repair and overhaul (MRO) market is estimated to reach to 85.4 billion by 2021, whereas a KPMG report last year had projected the domestic market to touch USD 5.2 billion by 2026.
"The partnership will help us grow in the international market where we don't have any presence at present while the SIAEC will have an opportunity to tap the huge local business here with us," AIESL Chief Executive Officer H R Jagannath told
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