By:MoneyNews
Source: http://archive.newsmax.com
Airbus on Thursday said it plans to invest some $1 billion in India, setting up an engineering facility and a pilot training school.
The European airplane maker had committed to investing in India as part of a deal with the government, which is purchasing 43 Airbus aircraft for the state-run Indian Airlines in a deal valued at $2.25 billion.
However, Airbus plans to double the $500 million required under that agreement, Kiran Rao, Airbus' executive vice president of marketing told a news conference.
Some $300 million is to be invested in a pilot training center and another $250 million in an engineering center, both in the southern city of Bangalore.
Airbus also released a study predicting a huge growth in the Indian airline industry, saying that the country will need 1,100 airplanes worth $105 billion by 2025.
Source: http://archive.newsmax.com/money/archives/articles/2006/12/7/091317.cfm
Source: http://archive.newsmax.com
Airbus on Thursday said it plans to invest some $1 billion in India, setting up an engineering facility and a pilot training school.
The European airplane maker had committed to investing in India as part of a deal with the government, which is purchasing 43 Airbus aircraft for the state-run Indian Airlines in a deal valued at $2.25 billion.
However, Airbus plans to double the $500 million required under that agreement, Kiran Rao, Airbus' executive vice president of marketing told a news conference.
Some $300 million is to be invested in a pilot training center and another $250 million in an engineering center, both in the southern city of Bangalore.
Airbus also released a study predicting a huge growth in the Indian airline industry, saying that the country will need 1,100 airplanes worth $105 billion by 2025.
Source: http://archive.newsmax.com/money/archives/articles/2006/12/7/091317.cfm
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