IATA says CFM jet engine maintenance pact extended to 2033
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PARIS, Jan 20 (Reuters) - Global airlines have renewed an agreement with French-U.S. engine maker CFM International(SAF.PA) to guarantee competition in the market for engine maintenance and repairs, the International Air Transport Association said on Tuesday.The decision to double the term of an earlier seven-year agreement by extending it to February 2033 coincides with an industry shortage of parts and maintenance capacity that airlines say added almost $6 billion to their costs last year.
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