MRO Momentum: Collins Aerospace secures more than $1.5 billion in maintenance agreements from worldwide customers
- Deals include first MRO agreements with Africa’s largest airline, Ethiopian Airlines
- Demonstrates strength of the company’s global MRO network
- Underscores commitment to providing customers with customized solutions
PARIS (June 18, 2019) –Today, Collins Aerospace announced it has recently been awarded more than $1.5 billion in tailored agreements for components spanning its Power & Controls and Aerostructures business units—across multiple commercial platforms with global commercial customers. Collins Aerospace is a unit of United Technologies Corp. (NYS: UTX).
These recent agreements include Collins Aerospace’s first MRO agreement with Africa’s largest carrier, Ethiopian Airlines. The agreement, valued at approximately $500 million over a 25 year period with Collins Aerospace’s Power & Controls business, will enable the airline to service components such as heat exchangers, air management systems and fuel metering units for its fleet of 60 Q400 aircraft. This deal further expands Collins Aerospace’s global MRO network to include East Africa as part of the company’s strategy to grow its presence on the continent. With the world’s second-largest and youngest population, Africa is an important market for Collins Aerospace.
Additionally, Collins Aerospace’s Aerostructures business signed new long-term FlightSense ® Nacelle agreements on 787 and A320 aircraft platforms, amounting to over $900 million including options with multiple IATA II customers spanning over a 25 year period. Collins Aerospace has developed a culture of speed and ease by combining excellent product lifecycle management with timely customer service and ease of interaction. As one of the world’s leading nacelle OEMs for commercial aircraft, the company leverages its deep technical expertise, product knowledge and globally available assets to provide world-class MRO services and support.
Two Asia-Pacific airlines, including Japan Airlines, have both signed Flightsense agreements with Collins Aerospace. Japan Airlines signed a multi-fleet FlightSense Onsite Support agreement allowing Collins Aerospace to manage its MRO supply chain, providing the airline with onsite inventory, competitive rates for OEM-quality parts and improved shop efficiency. Additionally, an undisclosed airline in the region has signed a FlightSense Predictable agreement in its effort to improve reliability and reduce downtime with advanced exchanges during critical repairs to its 777 fleet.
“We are honored that leading customers across the globe have trusted us with their support needs,” said Collins Aerospace Aftermarket Services President Ajay Agrawal. “Our customers are looking for more customization and agility than any time before. Collins Aerospace is seeing tremendous customer interest in its support offerings since we can respond to these customer needs most effectively. Our product knowledge, customized solutions, and exceptional global MRO network are true differentiators.”
About Collins Aerospace
Collins Aerospace, a unit of Raytheon Technologies Corp., is a leader in technologically advanced and intelligent solutions for the global aerospace and defense industry. Collins Aerospace has the extensive capabilities, comprehensive portfolio and broad expertise to solve customers’ toughest challenges and to meet the demands of a rapidly evolving global market. For more information, visit CollinsAerospace.com.
About Raytheon Technologies
Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With 195,000 employees and four industry-leading businesses ― Collins Aerospace, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense ― the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics, and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Waltham, Massachusetts.
This press release contains forward-looking statements concerning future business opportunities. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to changes in levels of demand in the aerospace industry, in levels of air travel, and in the number of aircraft to be built; challenges in the design, development, production support, performance and realization of the anticipated benefits of advanced technologies; as well as other risks and uncertainties, including but not limited to those detailed from time to time in United Technologies Corp.’s Securities and Exchange Commission filings.
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