Etihad, SR Technics in long-term deal
Zurich, September 3, 2013
UAE’s national airline Etihad Airways and SR Technics, part of the Mubadala Aerospace MRO network, have signed a deal to extend and deepen their existing cooperation.
SR Technics will continue to provide a full suite of Integrated Component Services (ICS) for the airline’s Airbus A320, A330 and A340 fleets until 2023.
Additionally, the company will extend its services to cover the Boeing 777 fleet. The new contract covers all of Etihad’s current 72 aircraft and future deliveries of the same type.
This cornerstone agreement provides a volume of approximately $350 million and will include SR Technics’ first entry into ICS services for Boeing 777 aircraft.
Sanad Aero Solutions, Mubadala Aerospace’s spare engine and component financing and leasing company, is closely involved through a sale and leaseback solution for rotable component spares that was previously announced as part of a separate 10-year agreement.
André Wall, president of SR Technics, said: “The expanded ICS agreement is the result of SR Technics’ proven performance over recent years. We are very pleased to strengthen our relationship with Etihad Airways focusing on seamless solutions along the aircraft value chain, and to grow our strategic partnership still further in the future.” - TradeArabia News Service