Mubadala unit wins SpiceJet contract
Singapore, February 15, 2012
SR Technics, a unit of Abu Dhabi-based Mubadala Aerospace Maintenance, Repair and Overhaul (MRO) network, has signed a 10-year engine maintenance contract with SpiceJet, one of India's leading budget carriers.
As per the deal, SR Technics will be the exclusive provider of engine maintenance services for CFM56-7B engines installed on SpiceJet’s fleet of Boeing 737-800 / 737-900ER aircraft.
All the work will be carried out at SR Technics’ facilities in Zurich, Switzerland, said a company statement.
The agreement also encompasses spare engine support to cover scheduled and unscheduled removals and engine condition monitoring.
The engine repair and maintenance services agreement is worth up to $415 million over ten years, said a senior official.
James Stewart, Group CEO of the Mubadala Aerospace MRO network, said, 'This is the first major Indian low-cost airline customer for the Mubadala Aerospace MRO network, and reflects the quality and reliability of SR Technics’ offering.”
Neil Mills, chief executive officer of SpiceJet expressed delight at the signing of SR Technics as the MRO support for its growing fleet.
'Their proven track record in delivering rapid turn-around times is essential for us as we continue to build on our strong position in the expanding Indian aviation market,' Mills added.-TradeArabia News Service