EADS' Airbus forms spare-parts JV in India
MUMBAI (Reuters) - European aerospace and defence group EADS said its Airbus division has formed a joint venture with an Indian and Turkish firm for spare parts and logistics support.
The joint venture, in which Airbus will hold 26 percent, will maintain an inventory of rotable components used on all types of Airbus commercial aircraft by operators in India for sale and exchange, EADS said in a statement.
Rotable components can be repeatedly repaired and exchanged.
Airbus' partners in the joint venture, called Spares Support Solutions India, are Indian firm Airspace Infrastructure and Turkey's Airlogic Ltd.
Istanbul-headquartered Airlogic provides services including component trading, distribution and repair, while Airspace Infrastructure is involved in bonded warehousing.
Bonded warehousing helps importers defer duty payments to customs, and allows for cargo to be stored in cheaper warehouses rather than the international containers in which it was imported. (Reporting by Pratish Narayanan)
© Thomson Reuters 2009 All rights reserved
India Investment Summit 2009
Top executives and bankers discuss their own plans and the broader opportunities and challenges for India. Full Coverage
GLOBAL RECOVERY
Global economy in holding pattern - IMF
The global economy is in a holding pattern and vulnerable to more upheaval, the head of the IMF said, adding a lasting recovery will depend on policymakers taking the proper steps in the coming months. Full Article
India
US
UK
