Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
01 November, 2014 16:03 IST
News
Jet Airways signs USD 48 mn maintenance pact with ATR
Source: IRIS | 04 Feb, 2013, 05.41PM
Comments  |  Post Comment

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).


News
D S Kulkarni Developers standalone quarterly net up 22.93% - 31-Oct-2014 18:37
Apcotex Industries standalone quarterly net soars 2.84 times - 31-Oct-2014 18:01
National Oxygen loss widens in Jul-Sep quarter - 31-Oct-2014 17:33
Angel Broking maintains Neutral on Ambuja Cement - 31-Oct-2014 17:22
Dalmia Bharat Sugar and Industries loss narrows in Jul-Sep quarter - 31-Oct-2014 17:19
Angel Broking recommends Neutral on Union Bank - 31-Oct-2014 17:18
Angel Broking recommends Buy on M&M - 31-Oct-2014 17:14
Hatsun Agro Product standalone quarterly profit plunges 66.78% - 31-Oct-2014 17:09
NMDC standalone quarterly profit rises 18.83% - 31-Oct-2014 16:59
Igarashi Motors India standalone quarterly net falls 39.64% - 31-Oct-2014 16:55
M C S loss narrows in Jul-Sep quarter - 31-Oct-2014 16:33
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   4m396n into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer