Malaysia Aviation Group Berhad announced that it has signed a Terms of Reference with Lufthansa Technik AG on a strategic partnership framework for a joint venture (JV) to establish a regional maintenance, repair and overhaul (MRO) facility.
The MRO facility, planned for 2017, would be based at Malaysia Airlines’ existing facilities at Kuala Lumpur International Airport and service the Boeing 737 and Airbus A320 family of aircraft.
The JV is expected to see the creation of additional jobs as well introduce state-of-the-art technical capabilities for base maintenance services and best practices in operations, creating a centre of excellence for the region.
“We are excited about the tangible benefits of the JV. Lufthansa Technik is one of the global leaders in MRO services, and the level of skill, expertise and technological transfer will be invaluable, both for us and for Malaysia”, said Mr Christoph Mueller, the Group Chief Executive Officer of Malaysia Aviation Group Berhad and Malaysia Airlines Berhad.
“Once this new joint venture becomes true, we will extend significantly our MRO capabilities in one of the most emerging markets worldwide,” explained Dr. Johannes Bussmann, the Chief Executive Officer of Lufthansa Technik AG. “With Malaysia Airlines at our side, we will have a strong regional partner to create a real success story with this new business.”
The formation of the JV will be subject to, inter alia, approvals from the regulatory authorities and the signing of definitive agreements.