By Mauro Orru

Airbus and Air France entered into exclusive negotiations aimed at establishing a joint venture to provide A350 component maintenance services, including supply chain management and repairs.

The European plane maker said Monday that the joint venture would help meet growing long-term maintenance demand for the A350, of which there are more than 1,000 aircraft on order and 550 currently in service worldwide.

Airbus and Air France-KLM's Air France will each own 50% of the joint venture, which is expected to be operational by the first half of 2024.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

September 04, 2023 13:15 ET (17:15 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
Air France ADS (PK) (USOTC:AFLYY)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Air France ADS (PK) Charts.
Air France ADS (PK) (USOTC:AFLYY)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Air France ADS (PK) Charts.