Honeywell (NYSE:HON) and Emirates have consolidated their partnership by signing a General Terms Agreement that extends until 2019.
Under the framework of this General Terms Agreement, the parties have also signed the first Specific Business Agreement for Honeywell to provide repair and overhaul support for its avionic and mechanic components on Emirates’ 777, A330 and A340 aircraft over a five-year term.
“The General Terms Agreement changes the relationship between our two companies, codifying how we will work together in the future and underlining Honeywell’s ability to provide comprehensive supply services and aftermarket care on its broad range of products,” said John Ashton, Vice President Airlines EMEAI at Honeywell Aerospace. “Crucially, it demonstrates that our investment and commitment to the Middle East, where we use our presence in UAE, Egypt, Qatar and Saudi Arabia to serve the needs of this important regional market, is the right choice for our business.”
Through the terms of the agreement Honeywell and Emirates create a strong foundation to streamline future business partnerships and reinforce the long-standing relationship between the two companies.
“The level of Honeywell’s aftermarket care is an important element of support to Emirates as we continue to maintain and upgrade our fleet. As the leading Middle East operator and the second largest international global operator in terms of Revenue Passenger Kilometres, optimum support, performance and competitive life-cycle costs are essential in maintaining continuous growth,” said Iain Lachlan, Emirates Divisional Senior Vice President, Engineering. “This agreement demonstrates our desire and willingness to enter into relationships with key suppliers and partners who share our desire to deliver the highest standards in safety and quality of service and product.”
Source: Honeywell International, Inc. (NYSE: HON)
Date: Mar 14, 2012