Honeywell Wins New Contract to Modernize HNA Group's Growing Fleet

Honeywell (NYSE: HON) has significantly extended its partnership with HNA Group to provide Honeywell 131-9 series Auxiliary Power Units (APU) together with an APU maintenance solution for the Chinese air transport company's rapidly expanding fleet. The value of the agreement was not disclosed. HNA Group owns 13 airlines including the SKYTRAX five-star certified Hainan Airlines, making it the fourth-largest airline group in China by fleet size. The new contract includes the installation and aftermarket servicing of Honeywell 131-9 series APUs in 42 new A320 aircraft. The APUs will be delivered over three years, beginning in 2012. Honeywell also will provide repair and overhaul services of APUs on other existing aircraft. The deal with HNA coincides with the Chinese company's rapid growth coming out of the global economic downturn. To capitalize on these growth opportunities, the airline group is modernizing its fleet to maximize efficiency and safety. "Most airplanes flying today anywhere in the world have Honeywell APUs on board," said John Bolton, president of Air Transport and Regional, Honeywell Aerospace. "Airline after airline has selected Honeywell APUs and customer support because we offer very best performance and value in the industry. We're proud to partner with HNA Group as it modernizes its fleet and expands its business to meet the exploding demand for air travel across Asia and the Pacific region."
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Source: Honeywell International, Inc. (NYSE: HON)
Date: May 16, 2011