By Anantha Krishnan M | Aviation Week
Bangalore, India | May 07, 2010
Hindustan Aeronautics Ltd. (HAL) said that among its nine fully operational joint ventures (JV), three have become profitable. P. Soundara Rajan, HAL’s director of corporate planning and marketing, tells AVIATION WEEK that the latter six JVs, which are in their initial and midlevel phases of operation, will also break even. Four of the nine JVs are held on a 50/50 equity basis, while HAL owns stakes of 40-49% in the remaining five. A revised road map has been put in place, so that the unprofitable JVs will reach their planned breakeven point.
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