Ramco Systems was locked in an upper circuit of 20% at Rs 341.75 after the firm signed a deal with Korean Air to implement its flagship aviation software, Ramco Aviation Suite at Korean Air's engine maintenance center.
The airline company will construct its new engine MRO facility in Unbuk, near Incheon International Airport, claiming to be the largest engine maintenance plant in Asia, consolidating all engine MRO capabilities into a single cluster. The airline currently conducts MRO work on six engine models, and with this expansion, Korean Air is looking to add three more engine types to its aircraft family.The implementation of Ramcos Aviation Software will replace multiple legacy systems to streamline operations across current engine shops and planned expansion sites.
With comprehensive MRO-specific functionalities, and integrated e-publications all on a unified platform, offered as an out of the box solution, Ramco Aviation will be the technological foundation for Korean Air. In addition, the airlines engine maintenance center will also benefit from digital enablers such as Mobility via Anywhere Apps, HUBs, Dashboards and other integrations to the ecosystem offerings, powered by the company, said Ramco.
Chan Woo Jung, vice president and head of maintenance & engineering division at Korean Air, said, The implementation of Ramcos Engine MRO capabilities will help us enhance our facility's efficiency and precision and set new standards in engine maintenance, positioning us as a top MRO provider.
Sundar Subramanian, CEO, Ramco Systems, said, Our relentless focus on building a best-in-class MRO Suite, complete with specialized Engine MRO functionalities, and bundled with cutting-edge tech stacks has truly proved to be a game-changer. We look forward to empowering Korean Air to deliver unparalleled safety and service excellence to their valued customers.
Ramco Systems is a well-established enterprise software product provider known for its multi-tenant cloud and mobile-based enterprise software, serving over 1000 customers globally with 2 million users. The company has been driving innovation for over 25 years and has proven its capabilities in Global Payroll, Aviation Aerospace & Defense, and ERP, delivering tangible business value.
The company reported a 47.58% decline in consolidated net loss of Rs 26.35 crore despite of 0.59% rise in revenue from operations to Rs 128.26 crore in Q3 FY24 over Q3 FY23.
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