Jupiter Aviation signs pact with EADS

Bangalore, Feb 9 (UNI) Jupiter Aviation, a subsidiary of Jupiter Capital, today signed a Memorandum of Understanding with European aerospace and defence group EADS to set up training schools on lifecycle support, training, maintenance, repair and overhaul (MRO) for civilian aviation in the country.

Jupiter investment in these ventures was expected to exceed Rs 1,100 crore (250 million US Dollars).

Announcing the agreement, Jupiter Aviation CEO and Managing Director Ravi Narayanan said ''the two entities bring separate sets of skills in technology, venture and infrastructure development. The growth in the aviation sector is creating the need for world-class providers of services to the fast growing airlines and also the need to create intellectual capital and human resources for the sector.'' The MoU envisaged Jupiter Aviation, a subsidiary promoted by ex-BPL Mobile CEO Rajeev Chandrasekhar, and EADS working with other key strategic international partners in India and abroad to develop these ventures into a successful Eco System and Aviation infrastructure backbone for the fast growing civil aviation market.

EADS would be providing the technology and know-how to Jupiter Aviation.

Mr Yves Guillaume, President and CEO of EADS India, said ''the Indian aviation is growing rapidly and faces significant maintenance and training infrastructure shortage. This is also a long-term commitment to our airline customers in India covering the complete Airbus family rainge.'' Mr Chandrasekhar, a Rajya Sabha member from Karnataka, said ''it is expected that these ventures would be primarily located in Bangalore if the Government supports such investment. Bangalore with aviation pioneers like HAL, Deccan Aviation and Kingfisher originating from the city, could become a hub for aviation.'' UNI