Wait...

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Air India MRO struggles for forex earnings.


Date: 14-08-2017
Subject: Air India MRO struggles for forex earnings
Nagpur: The maintenance repair and overhaul (MRO) depot at Mihan-SEZ took in the first third party aircraft belonging to SpiceJet on Sunday. It was a landmark development for MRO unit run by Air India Engineering Services Limited (AIESL). Operational since 2015, till now it was doing maintenance of only Air India aircraft.

Now business of MRO that employs 400 is expected to expand. The strength is expected to be taken to 1000 when operations increase. However, located in a SEZ, the MRO has to predominantly export its services. Getting foreign airlines' to Nagpur, however, appears a distant dream.

At present, AIESL is insisting that both Air India and SpiceJet pay it in dollars, at least for the services they would have otherwise taken from MROs abroad. This can help AIESL meet its net foreign exchange (NFE) earning commitment, said AIESL's managing director H R Jagannathan.

Tax incentives are available for units in a SEZ, if their net earnings are in foreign exchange. For that, the MRO will have to ideally cater mostly to foreign airlines. To get foreign airlines come to Nagpur, the MRO will need approval from European and US safety regulators. AIESL has approached them for getting a general approval for Boeing and Airbus aircraft but has met with little success so far.

"The agencies are not willing to give a general approval and are insisting for a specific tie up with a foreign airlines first. The question raised is why should an Indian MRO need an approval if it does not have a tie-up with any European or American airlines. Also, many foreign airlines are not finding it feasible to fly their planes to Nagpur to get maintenance done," Jagannathan told TOI at the sidelines of the function. Nagpur MRO has an approval from directorate general of civil aviation (DGCA), which is an Indian agency.

Despite difficulties, it has secured an approval from FAA for servicing Boeing 777. But a majority of planes in the market are Boeing 737 and Airbus 320s for which there is no approval yet, he said. AIESL is in talks with some foreign airlines. There has been some success with Kalitta Air of US so far, said Jagannathan.

On the brighter side, AIESL will be starting its engine testing facility for Boeing 777 aircraft at the MRO by next month. It awaits a DGCA approval for the operations. By 2019, it is expected to be ready for complete overhaul of 777 as well as GE's GenNext engines, he said.

Source: The Times OF India

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 21-10-2020
Notification No. 38/2020-Customs
Notification regarding exemption of duties of Customs against scrips issued under the RoSL scheme for apparel and made-ups sectors.

Date: 21-10-2020
Notification No. 07/2020 – Central Excise
Notification regarding exemption of duties of Central Excise against scrips issued under the RoSL scheme for apparel and made-ups sectors

Date: 20-10-2020
Notification No. 37/2020-Customs
Seeks to further amend notification no. 152/2009 dated 31.12.2009, regarding the rate of duty of customs on imports of "Polybutadiene Rubber" originating in Korea RP and imported under the India-Korea Comprehensive Economic Partnership Agreement.

Date: 15-10-2020
Notification No. 99/2020 - Customs (N.T.)
Exchange rate Notification No.99/2020-Cus (NT) dated 15.10.2020- regd.

Date: 13-10-2020
Trade Notice No. 30/2020-2021-DGFT
Electronic filing and Issuance of Preferential Certificate of Origin (CoO) for India’s Exports under GSP, GSTP, India-Malaysia CECA, India-Singapore CECA w.e.f. 15th October 2020

Date: 09-10-2020
Notification No. 39/2015-2020
Amendment in Export Policy of Onions

Date: 08-10-2020
Circular No. 44/2020-Customs
Procedure for inspection of ICDs/CFSs/AFSs -reg

Date: 08-10-2020
Notification No. 49/2020-Customs (N.T./CAA/DRI)
Appointment of CAA by Pr. DGRI

Date: 07-10-2020
Public Notice No.24 /2015-20
Revision of SION H-68, H-301 & H-302 of Export Products- Double Decorative/Single side Laminates with or without Barrier Paper

Date: 06-10-2020
Instruction No. 18/2020-Customs
Directorate General of Audit as a Nodal Directorate for Customs Post Clearance Audit –regarding



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001