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
21 September, 2014 12:04 IST
News
Jet Airways signs USD 48 mn maintenance pact with ATR
Source: IRIS (04-FEB-13)
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
ING Vysya Bank announces leadership changes - 19-Sep-2014 18:52
ICICIdirect upgrades TTK Prestige to 'Buy' - 19-Sep-2014 18:12
Power Grid board approves Rs 3.32 bn investment, JV with RINL - 19-Sep-2014 17:18
Ind-Ra downgrades ISMT to 'D' - 19-Sep-2014 17:07
Shree Cement enters into biz transfer agreement with JP Associates - 19-Sep-2014 17:00
ICICI Bank allots 33,595 shares under ESOS - 19-Sep-2014 16:21
HCL Infosystems grants option under ESOS - 19-Sep-2014 16:02
'Buy' Yes Bank; target Rs 735: Anand Rathi - 19-Sep-2014 15:52
ICICI Bank organises workshop on prevention, investigation of banking frauds - 19-Sep-2014 15:34
V-Mart Retail opens 96th store in Bihar - 19-Sep-2014 15:20
ITC allots shares under ESOS - 19-Sep-2014 14:58
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   4ctfj4 into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Forums  |   E-mail  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer