Money talks as Chengdu firms up hub credentials

As Airbus' first aircraft life-cycle service center outside Europe, it will provide one-stop service for a wide variety of aircraft, covering everything from parking, storage, maintenance, upgrades, dismantling and recycling.

According to the agreement, the total registered capital of the joint venture is $7 million, with Airbus holding a 70 percent stake, Tarmac Aerosave holding a 20 percent stake and Aerotropolis Xingcheng Group holding a 10 percent stake. The project is expected to be completed in September.

Hu Yongdong, a business operator at Airbus China, described the full life-cycle services project as "a miracle in the history of Airbus' external cooperation", adding that through this project, the company will expand its business scope in China to the entire industry chain, offering comprehensive services ranging from component manufacturing, aircraft assembly and delivery to fleet operations, dismantling and high-value component recovery.

"This year, the Airbus A320 aircraft maintenance services will be carried out. And next year, the disassembly of the Airbus A320 aircraft will be on service. It is expected to expand to Airbus wide-body aircraft in the third quarter of next year, starting with the disassembly of the A330," Hu said.

Starting in 2025, the project will also provide service to Boeing aircraft, initially on narrow-body 737 airliners before expanding to include maintenance and disassembly of widebody 777 airliners.