Small BusinessGHIAL signs three MoUs
GMR Hyderabad International Airport Limited (GHIAL) has signed three memoranda of understanding with Jet Airways, Malaysia Airports Consultancy Services (MACS) and Asia Pacific Flight Training Sdn Bhd (APFT).
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MAS GMR Aerospace Engineering Company Private Limited, a 50:50 joint venture formed between Malaysian Aerospace Engineering and GHIAL, entered into an MoU with Jet Airways for providing exclusive heavy maintenance services to the latter"s fleet of more than 100 aircraft over the next ten years in Hyderabad at the upcoming maintenance, repair and overhaul (MRO) facility.
The facility will enable Jet Airways to save costs and considerably reduce downtime for each aircraft, according to a GHIAL press release.
GHIAL also entered into a MoU with MACS for the commercial development of the Hyderabad airport. Upon the identification of a commercial project, both parties will negotiate and enter into an independent agreement, which will define the scope of technical services, payment of fee, obligations and responsibilities of each party in the respective commercial project.
The MoU with APFT envisaged setting up of an ab-initio flight training centre in partnership with Jeppesen India, a Boeing subsidiary. The cost of the project is estimated at $ 2.5. million (about Rs 12 crore).
GHIAL is a joint venture company promoted by GMR Infrastructure Limited (63 per cent); Malaysia Airports Holding Berhad (11 per cent), Airports Authority of India (13 per cent) and Andhra Pradesh government (13 per cent).
The MoUs were signed in Chennai on Friday.