Aeroflot builds MRO joint venture with SR Technics

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Aeroflot will establish two MRO joint ventures - for airframe and component support - in Russia with Swiss maintenance provider SR Technics.

Russia's industrial state corporation Russian Technologies will be the third partner in the future MRO business, which is targeted to generate revenues of around $800 million over the next five years.

The Moscow-based flag-carrier says that each shareholder will own a third of the airframe maintenance venture, while the component maintenance business will be controlled by SR Technics.

The MRO provider - which is a wholly owned subsidiary of Abu Dhabi's Mubadala Aerospace - will hold 50% plus two shares, while Aeroflot and Russian Technologies will have 25% minus one share each.

The component maintenance business will include a spare part pool and equipment repair services.

Aeroflot says that it will be the first component pool in Russia and serve also other carriers in the country.

The SkyTeam member adds that the co-operation with SR Technics follows a decision by the airline's executive board last September to develop a new strategy for its technical unit to reduce costs.

Slashing costs was considered particularly important in the context of the consolidation of Aeroflot's group companies and planned future fleet growth.

SR Technics could not be reached for immediate comment.