M&M to set up Mahindra Airways for Aircraft management services

By: | Published: July 27, 2016 4:32 PM

Mahindra & Mahindra has set up Mahindra Airways, a wholly owned subsidiary on Wednesday. Mahindra & Mahindra owns a subsidiary called Mahindra Holdings Ltd which will own the Airways.

mahindra airways, mahindra & mahindra, m&m, mahindra, m&m q1, m&m share, company newsMahindra & Mahindra has planned to invest a lot of money till 2019 and keep indroducing new products with an aim to reclaim ground lost to foreign rivals in the domestic sector and at the same time stay relevant. (Reuters)

Mahindra & Mahindra has set up Mahindra Airways, a wholly owned subsidiary on Wednesday. Mahindra & Mahindra owns a subsidiary called Mahindra Holdings Ltd which will own the Airways. This will be a unit which will provide management services for aircrafts, Bloomberg TV reported. M&M had notifies the Bombay Stock exchange and National Stock Exchange. Mahindra has had a good first quarter in the fiscal year from April to June. It has launched new products recently and is planning to strengthen the presence of the brand, also by making inroads in the rural markets.

Mahindra & Mahindra has planned to invest a lot of money till 2019 and keep indroducing new products with an aim to reclaim ground lost to foreign rivals in the domestic sector and at the same time stay relevant. In Q1 the company’s UV sales grew to 55,907 units while it was 49,354 units in the same quarter in 2015. That is a good 13% growth. It is making full use of its research and development department, in a bid to compete with MNCs. With the brand called Mahindra Airways it plans to make inroads to all kinds of services related to Aircraft management.

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