Spain’s Iberia and Singapore Technologies Aerospace (ST Aero) have agreed to set up a landing gear repair and overhaul company in Madrid.
ST Aero says in a statement issued at the Singapore Airshow that the joint venture with Iberia’s technical division, Iberia Maintenance, will be set up in 50-50 equity partnership. It says the initial investment is expected to be around €6 million ($8.8 million).
The company will be managed by ST Aero, which says it will “operate as an independent third party maintenance, repair and overhaul service provider”, supporting Iberia and other airlines.
Operations are expected to begin by the second half of this year and the joint-venture company will initially focus on Airbus A320, A330 and A340 landing gears.
Source: flightglobal.com's sister premium news site Air Transport Intelligence news