HOW QUICKLY THE PRESENT BECOMES the good old days in the air transport industry! Twelve months ago, providers of maintenance, repair and overhaul services were confidently eyeing new markets and growth opportunities in line with rising airline traffic and capacity. The aging of the fleet and higher aircraft utilization meant that demand for MRO services was increasing. Private equity was turning its attention to the sector and places like India seemed ripe for exploration (ATW, 11/07, p. ...

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