CHARLOTTE, N.C., July 16 /PRNewswire-FirstCall/ -- Farnborough International 2006 -- Goodrich Corporation has signed a 10-year agreement with EgyptAir to provide total aftermarket support for its Airbus A320 family aircraft. The contract, which covers 17 aircraft, is expected to generate up to $40 million in revenue over the next 10 years for Goodrich.
Goodrich will provide a fixed-cost, flight-hour based, support program which offers EgyptAir 24-hour, 7-day-a-week availability of nacelle and thrust reverser original equipment parts and repair services. In addition, the agreement includes extended product warranties and on-site support.
"This agreement represents our first flight-hour based aftermarket support program with an airline in this dynamic region of the world," said Goodrich Aerostructures Aftermarket Services Vice President & General Manager, Bob Gustafson. "It reflects the growing confidence this strategic airline customer has in our ability to maximize the asset value of its A320 fleet. We consider this agreement to be the cornerstone for a broader relationship with not only EgyptAir - one of the pioneer airlines in the world - but also other carriers operating in the Middle East, Africa, and the Mediterranean."
Support work and services will be performed at the Goodrich Aerostructures Service Center - Prestwick, an EASA- and FAA-certified repair station located in Scotland.
Established in 1932, EgyptAir today operates one of the most modern and youngest fleets in the industry. Its fleet includes Airbus A320, A321, A330 and A340 aircraft -- as well as Boeing 737 and 777 jets.
EgyptAir operates more than 400 weekly flights from Cairo and several other Egyptian cities to more than 66 international and domestic destinations in Asia, Europe, Africa and North America. The European Aviation Safety Agency (EASA) has granted EgyptAir Part 145 certification, authorizing the carrier to perform line maintenance and return to service aircraft registered in EU member states. EgyptAir performs this service through a network of resident certified staff in Luxor, Alexandria, Hurghada, Aswan, and Sharm El sheikh. EgyptAir plans to obtain EASA certification for base maintenance and overhaul workshops and outstations by the end of July 2006.
Goodrich Corporation, a Fortune 500 company, is a global supplier of systems and services to aerospace, defense and homeland security markets. With one of the most strategically diversified portfolios of products in the industry, Goodrich serves a global customer base with significant worldwide manufacturing and service facilities. For more information visit http://www.goodrich.com/.
Forward-looking Statements
Forward-looking statements in this press release regarding the company's new agreement with EgyptAir are based on assumptions that the company believes are reasonable, but are subject to a wide range of risks. Actual results may differ materially due to, among other factors, differences between the company's assumptions and the actual services provided by the company under the agreement; unexpected changes in EgyptAir's business; competitive factors; and unexpected changes in the company's contractual relationship with EgyptAir. The company cautions you not to place undue reliance on these forward-looking statements contained in this release, which speak only as of the date on which such statements were made. The company undertakes no obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date on which such statements were made or to reflect the occurrence of unanticipated events.
