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01 November, 2014 16:03 IST
Jet Airways signs USD 48 mn maintenance pact with ATR
Source: IRIS | 04 Feb, 2013, 05.41PM
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Jet Airways, a provider of domestic and international airline services and the European turboprop aircraft manufacturer ATR today signed a new Global Maintenance Agreement (GMA), valued at some USD 48 million. This new GMA extends the agreement for the following 7 years and covers the supply of spare parts and maintenance services for the fleet of ATRs of the airline.

This new Global Maintenance Agreement will handle the complete management of the components, including the repair of line replaceable units (LRUs) and propellers, and the access to an ATR advance standard exchange pool.  With the signature of this agreement, Jet Airways (Q,N,C,F)* will mainly take advantage of guaranteed spares availability and a large reduction of maintenance costs. The airline will additionally benefit from simplified maintenance procedures, with ATR as single channel.

Nikos Kardassis, chief execuitve officer, Jet Airways said, ''Jet Airways is delighted to partner with ATR in a new Global Maintenance Agreement. ATR services are an integral part of Jet Airways' domestic operations, enabling the airline to enhance network connectivity to include several smaller Indian destinations. The new agreement will streamline and ease maintenance requirements, as well as access to aircraft spare parts across Jet Airways' ATR fleet, in a cost efficient manner.''

Shares of the company declined Rs 17.85, or 2.87%, to settle at Rs 604.80. The total volume of shares traded was 901,626 at the BSE (Monday).

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* Q - Quote , N - News , C - Chart , F - Financials
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