IATA and CFM International Renew Agreement to Boost Engine Maintenance Services
The International Air Transport Association (IATA) and CFM International have renewed their agreement to improve maintenance, repair, and overhaul (MRO) services for engines in the aviation sector. This partnership, a 50-50 joint venture between GE Aerospace and Safran Aircraft Engines, seeks to address the high costs and limited competition faced by airlines in aftermarket business practices.
The agreement aims to expand the MRO ecosystem, offering more choices to airlines and reducing ownership costs. The move comes in response to challenges estimating a 5-7% increase in engine leasing and maintenance costs for airlines by 2025.
Plus234Feed summary based on reporting from This Day. Read the original report below.
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