The agreement, worth over US$150 million, will see SR Technics provide Etihad Airways, the national airline of the UAE; with component maintenance support for what is set to be one of the largest Boeing 787 fleets in the world, with 71 aircraft in operation by 2023.
The agreement will cover the maintenance, repair and overhaul of Etihad Airways’ core Boeing 787 components, providing access to SR Technics’ main component pool distribution center as well as its logistical, technical, engineering expertise and support.
James Hogan, Etihad Airways President and Chief Executive Officer, said: “This agreement confirms our growing relationship with SR Technics, which has already proven its capability when it comes to managing our existing fleet’s component services requirements.
“We were confident that SR Technics is the quality provider that best meets the needs of our Boeing 787 fleet on a global scale.”
The agreement will lead to a major increase in volume for SR Technics’ existing Boeing 787 component services-related business, demonstrating the competitive offering for this expanding market segment.
Commenting on the announcement, André Wall, CEO of SR Technics, said: “This latest agreement significantly reinforces SR Technics’ strategy to become a major provider to leading carriers of Boeing 787 component services in this fast-emerging market.”
“We are delighted to deepen our long-standing partnership with Etihad Airways with the delivery of flexible and value-added solutions on a global scale. This award is the latest in a series of milestones for SR Technics, and is testament to the quality of our service and the strength of our workforce,” he added.
Etihad Airways currently operates three Boeing 787 aircraft on key medium and long-haul routes from Abu Dhabi that include Washington DC, Mumbai, Moscow and Brisbane. This will be expanded to Zurich in July, and Singapore in August, with more destinations being added as the airline takes delivery of more of the type. The airline will also begin taking delivery of Boeing 787s in a two-class configuration from 2016.