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Honeywell Provides 10-Year Maintenance Program For Kunpeng Airlines' Regional Jets
Honeywell (NYSE: HON) announced today that it has signed a contract with Kunpeng Airlines to provide aftermarket maintenance services on Honeywell's mechanical components, avionics and lighting equipment on the airlines' Embraer ERJ-190 aircraft. The agreement is valued at $21 million over the life of the contract.
Under the 10-year agreement, Honeywell will provide aftermarket repair and overhaul services on more than 65 Honeywell part items for Kunpeng Airlines' Embraer ERJ-190 aircraft. The airline took delivery of its first aircraft in September 2008 and will receive delivery of 50 total aircraft over the next four years.
"Honeywell's service program provides one manageable package that incorporates maintenance, logistics and spares access, giving Kunpeng Airlines the parts and services they need, when and where they need it," said Mike Madsen, Honeywell Vice President of Airlines. "Honeywell's extensive network of Service Centers ensures we can repair units and return them to service efficiently."
Honeywell's Integrated Service Solution makes budget planning easier by providing operators with cost predictability for maintenance. Additionally, Honeywell alleviates the burden of up-front capital investment for managing equipment spares.
Honeywell International is a $38 billion diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London and Chicago Stock Exchanges. For additional information, please visit www.honeywell.com .
Based in Phoenix, Arizona, Honeywell's aerospace business is a leading global provider of integrated avionics, engines, systems and service solutions for aircraft manufacturers, airlines, business and general aviation, military, space and airport operations.
This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements.
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