Magellan Aerospace Limited and Aequs will explore possibilities to set up a jointly owned engine MRO business in the Aequs Special Economic Zone, at Belagavi in Karnataka. Magellan President and CEO Phillip Underwood and Aequs Chairman and CEO Aravind Melligeri sealed a Memorandum of Understanding (MOU) towards this at the ongoing Farnborough International Airshow. hashtag#FIA2024
The current initiative builds on the long and successful partnership that Magellan and Aequs have nurtured since 2008 when the two set up Aerospace Processing India (API) as a JV. API was the first Airbus and Boeing-approved plant in India, providing OEMs aerospace surface treatments not readily available in the country at the time. Today this JV has flourished and grown to be the largest in India processing more than 1.5 million parts per year.
Under the terms of this MOU, Magellan and Aequs will work together to evaluate the market for business, commercial, and military aircraft engine MRO services, and develop a comprehensive business plan that expands the existing partnership into the MRO sector.
“With soaring aerospace and aviation growth, this potential engine MRO venture for the Indian market will focus on infrastructure development, cost advantages, and strategic initiatives that are essential to realizing the sector’s potential. Magellan is committed to contributing to India’s expertise in the aircraft engine MRO sector and helping grow this industry in the country. We are ready to meet the growing needs of our MRO customers with the cost-effective and quality solutions they have come to expect,” Phillip Underwood said.
“We have had a successful relationship with Magellan Aerospace for the past 15 years and partnered to build the most innovative and effective Aerospace ecosystem in India today at the Aequs SEZ. It is only logical we explore further opportunities to service the fast-growing business, civil and military aviation industry in India. This facility is expected to have the ability to strip, rebuild, and test engines to help alleviate existing capacity constraints. This JV will leverage the vertically integrated Aerospace manufacturing ecosystem at Aequs SEZ and coupled with Magellan’s global presence and expertise across product lines, will be best suited to provide engine MRO services to domestic and international business, commercial and military aircraft users,” Aravind Melligeri said.