Business

Thursday June 18, 2009

MAS unit in JV with Italy’s Alenia Aeronautica


KUALA LUMPUR: Malaysia Airlines (MAS) says its subsidiary, MAS Aerospace Engineering (MAE), has entered into a joint-venture agreement with Alenia Aeronautica for the provision of maintenance, repair and overhaul (MRO) services for turboprop commercial aircraft.

In a statement to Bursa Malaysia, MAS said MAE managing director Mohd Roslan Ismail and Giovanni Bertolone, chief executive officer of the largest Italian aeronautic player, Alenia Aeronautica, sealed the agreement at the 48th Le Bourget Air Show in Paris.

The new company, MAS-Alenia Aeronautica Aerospace Engineering (MAAE), is 51% owned by MAE and 49% by Alenia Aeronautica. The company’s headquarters would be in Malaysia, MAS said in a statement.

It said the agreement was related to the earlier order of 20 ATR 72-500s, plus an option of seven by Firefly and MASwings. These two airlines are wholly owned by MAS.

“MAAE aims to offer MRO services for ATR aircraft within Asean and the Indian sub-continent with plans to offer these services to other countries in the near future,” it said.

Roslan said in the same statement that the lack of MRO maintenance for turboprop aircraft in Asia would position MAAE to become a key MRO provider for turboprop. “In the second stage, the joint venture will develop additional business opportunities in the cargo conversions and specialised activities,” he said.


MAS : [Stock Watch] [News]


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