The Arabian Aerospace website has quoted an unnamed official at Iran’s Civil Aviation Organization (CAO) as saying that a deal over the acquisition is emerging.
“Right now, there are ongoing talks between Mubadala and one of our largest maintenance, repair, and overhaul (MRO) centers regarding a major investment,” the official has said on condition of anonymity. “They have been going on for some time.”
Iran’s MRO segment is ripe for investment, the report by the Arabian Aerospace said.
“It houses the largest MRO hangar in the Middle East in Fars Co., and the average labor costs are a fraction of those compared with European and American wages,” it added.
“And it has some of the most experienced aircraft mechanics and technicians, having maintained and repaired the world’s second oldest fleets for more than three decades.”
The deal with Mubadala is yet to be confirmed by Iranian officials. Nevertheless, it could be part of new efforts by the country to speed up the renovation of its ageing aircraft industry in face of US-engineered sanctions.
Iranian officials announced last week that a number of new planes less than 10 years old will be soon added to the Iranian air fleet.
Iran’s airlines are currently operating with a fleet of about 140 aircraft and officials say at least 500 new passenger planes are needed to be purchased within the next 10 years.
