Dubai's Emirates airline and European aircraft manufacturer Airbus said Monday, November 5 that they will establish a joint venture company next year to provide aviation services to regional airlines.
The venture, valued at $30 million and equally owned by Emirates and Airbus, will be created during the first half of 2002 and based in the Gulf emirate of Dubai, according to Emirates chairman Sheikh Ahmed bin Said Al-Maktoum.
"Dubai will be one of the main centers for aviation in this region in the very near future," Sheikh Ahmed told reporters during the signing of the memorandum of understanding. "The long-standing, close partnership between Emirates and Airbus will be strengthened by this venture," he said, adding that it would target aviation companies throughout the Middle East, Africa and Asia.
Airbus president Noel Forgeard said: "We have identified an opportunity to combine our world-class qualities and expertise to deliver a new range of services to the airline industry," describing the venture as "unique".
"Consultancy will be offered to airlines to cover items such as fleet, route and business planning. On the used aircraft and spares front, the aim will be to act like a remarketing agent or broker, realizing value for airlines from assets that are no longer needed," a joint statement said. — (AFP, Dubai)
© Agence France Presse 2001
© 2001 Mena Report (www.menareport.com)
