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The joint-venture company, named Shanghai Pratt& Whitney Aircraft Engine Maintenance Co., was set up with total investment of more than 99 million US dollars. China Eastern takes a 51 percent stake and Pratt & Whitney takes the rest.
Liu Shaoyong, board chairman of China Eastern, noted that the joint-venture company aims to foster maintenance capacity for 150 units of aircraft engines in a year, with sales value reaching 1.5 billion yuan.
The company is expected to be competent at maintaining 300 units of aircraft engines annually in the next three years, and the sales value by then will reach three billion yuan.
Liu noted that the founding of Shanghai Pratt & Whitney is expected to sharply cut down the operating cost of China Eastern.
Li Yangmin, deputy general manager with China Eastern, noted that Shanghai Pratt &Whitney will provide maintenance and repair service for CFM56 aircraft engines in the entire Asian region. The orders from China Eastern will account for some 50 percent of the company's businesses. The company will broaden its third-party market gradually in the future.
According to Li, the maintenance fees for each engine charged by Shanghai Pratt & Whitney will mark more than 500,000 US dollars lower than the same service provided by other companies.
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