City start-up Avrexsee Enterprises and Selom Aviation of Ireland are joining hands to develop a technologically-advanced aircraft leasing and asset management solution. Their proposed joint venture (JV), with an initial investment of $1 million, is expected to develop Civil Aircraft Asset Management Solutions (CAAMS) within 18 months. With that, the JV would address the global market.
The focus would be on potential customers such as airline operators, aircraft leasing companies, MROs in Ireland, the U.K., Europe and the U.S. Addressing media here on Tuesday, Avrexsee Enterprises founder and director Maneesh Singh said CAAMS as a product would ideally be developed and managed from Hyderabad. The sales interfaces would be through Selom Aviation. “We have already received some traction and are currently in dialogues with aircraft leasing companies in Dublin. Hyderabad’s product development facility will also enable this as an experiential training centre for some of the qualified engineers as aspirants to learn these advanced technologies and seek their career progression in aerospace and defence industry,” he said.
Stating that the team would be working with start-up incubator T-Hub, Mr. Singh said, “We have selection processes aligned accordingly and welcome partners in areas of AI, AR and RFID technologies”.
A release said the CAAMS is a product solution with automated and optimised business processes related to aircraft asset lease management and transition, aircraft sales transfer, aircraft inspection management, document management and GIS Integration.
Selom Aviation director Ravi Reddy said the CAAMS would help in addressing the needs of most of his firm’s customers such as aircraft leasing companies and aircraft owners. With Dublin being a major aircraft leasing hub globally, the plan is to promote CAAMS from there to enable near-shore product support and related managed services.
Mr. Singh said in five years the JV would be raising $5 million investment to scale up operations and develop more products.
source: http://www.thehindu.com / The Hindu / Home> News> Cities> Hyderabad / by Special Correspondent / Hyderabad – October 30th, 2019