Dubai 2011: Aerostar opens new avenues of business

Having created a successful brand for engine repair, maintenance and overhaul, aircraft acquisition and supply of material and spares, CEO Ajay Chaukulkar is now determined that the company should take the next steps in its development.

Chaukulkar has signed an agreement to purchase two V2500 series engines, from International Aero Engines, for A320 aircraft. This will form the first part of the leasing business.

We are targeting the Indian market, where there are 300 A320 aircraft in operation and no other leasing companies,” said Chaukulkar. “We have linked the lease with our MRO service, so the engine coming off wing can visit us for repair.

“Engine leasing is a specialised business and high risk because of the costs involved. We believe that with the correct infrastructure and secure lease transactions we can be successful.”

Chaukulkar expects the business to grow rapidly, with a huge market of new generation engines coming due for service.

Another new avenue is Aero Academy, due to launch in January and begin operations in June, with full flight simulators for Airbus A310/A300-600, Airbus 320 and Boeing 737NG aircraft.

Chaukulkar has formed alliances with two yet unnamed Indian airlines.

On past performance, there is every reason to believe the new endeavours will be successful. “In seven years we have taken Aerostar from $820,000 turnover to $69 million, which shows how the brand has been recognised by the industry,” said Chaukulkar.

Below: Aerostar CEO Ajay Chaukulkar