Under the JV pact, Air France and Airbus will transfer aircraft components assets belonging to both partners into the joint venture's pool.
The companies said this partnership would entail an optimized commercial offering for customers and the creation of a worldwide pool of aircraft components.
"This project aims to bring customers the best expertise of our two companies on a product as high-tech as the A350," said Anne Brachet, Executive Vice President of Air France-KLM Engineering & Maintenance.
The services include supply chain management, repairs, and creating a worldwide pool of aircraft components.
The joint venture will be operational by the first half of 2024.
"Air France-KLM Engineering & Maintenance and Airbus have a long-standing relationship and pooling our complementary A350 component skills and capabilities will deliver an enhanced service," said Cristina Aguilar, Senior Vice President Customer Services at Airbus.
Price Action: EADSY shares closed lower by 1.69% to $36.05 on Friday.
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