Public carrier Indian and CFM International have joined hands to set up a facility for maintenance, repair and overhaul of CFM56 engines in the country.
Jet Airways on Monday awarded $750-million contract to a leading Singaporean firm for maintenance support to engines of its 67-strong Boeing-737 fleet over the next 10 years.
The Tata group may have to deploy upwards of $1 billion to improve the airline's passenger reservation system, upgrade and refurbish Air India's fleet, primarily the wide-body aircraft which are the mainstay for the airline's international operations, people in the know said. While the group has not yet decided on how it intends to integrate Air India with its existing airlines AirAsia India and Vistara, sources said the first task will be to refinance Air India's existing loans, upgrade its aircraft gradually, and rewrite multiple business contracts with vendors and suppliers. "They will have to do 100 things to stabilise the airline and will have to put in a lot of money," DIPAM secretary Tuhin Kanta Pandey said, confirming that many aircraft are grounded.
The airline would be accepting the bids till November 19.
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