AvAir Acquires Surplus Rotables Valued at $100 Million
CHANDLER, Arizona, April 29, 2020 /PRNewswire/ -- AvAir, an industry leading inventory solutions provider for the aviation aftermarket, and Lufthansa Technik Component Solutions (LTCS) have signed a long-term aftermarket sales agreement. The Arizona-based company acquired the complete rotable spares pool inventory that includes 9,000 line items valued at $100 million. The first components will be delivered immediately from Lufthansa Technik facilities in Germany to AvAir facilities in Ireland and the United States. The complete transfer will be finalized within the next three months.
All parts are serviceable and come from the Lufthansa Airline Group and other Lufthansa Technik customer fleets. The majority of the parts was maintained by Lufthansa Technik's component MRO (maintenance, repair and overhaul) organization.
"We are extremely excited for this partnership, which not only solidifies the relationship built between AvAir and Lufthansa Technik over the past 20 years, but also allows us to greatly address the inventory needs of our customers worldwide," said Mike Bianco, CEO of AvAir.
With this partnership, AvAir has added a wide range of commercial and regional aircraft material to its inventory. Commercial assets include A320, A320-NE0, A330, A340, A350, A380, MD-11, B737-NG, B737-MAX, B747, B757, B767, B777, and B787. Regional assets include CRJ, ERJ and Q400. All material will come with fresh dual release certification (FAA/EASA) from Lufthansa Technik and come with a 12-month warranty.
"Over the past few months, we have been able to increase the efficiency of our supply chain with an improved allocation of our rotable spare parts inventory," said Georg Fanta, vice president of Lufthansa Technik. "This has enabled us to release the material into this sales program with AvAir. The teams of AvAir in Chandler and Lufthansa Technik's Component Division in Miami started working on this initiative at the end of 2019 and are now moving forward to utilize AvAir's trade expertise and worldwide customer network for similar opportunities in the future."
AvAir, now in its 20th year in business, offers customized solutions for customers and suppliers to buy, sell, exchange, loan, lease, or consign more than 26 million in-stock aircraft parts. AvAir will make the acquired inventory available for both exchanges and outright sales from AvAir's facilities in Chandler, Arizona and Dublin, Ireland, where the company expanded earlier this year.
About AvAir
Founded in 2000, Arizona-based AvAir is a global leader in the aviation aftermarket, providing customized inventory solutions for airlines, OEMs, and MROs. AvAir, offers customized solutions for customers and suppliers to buy, sell, exchange, loan, lease, or consign more than 26 million in-stock aircraft parts.For more about AvAir, visit AvAir.aero.
About Lufthansa Technik
With some 35 subsidiaries and affiliates, the Lufthansa Technik Group is one of the leading providers of technical aircraft services in the world. Certified internationally as maintenance, production and design organization, the company has a workforce of more than 25,000 employees. Lufthansa Technik's portfolio covers the entire range of services for commercial and VIP/special mission aircraft, engines, components and landing gear in the areas of digital fleet support, maintenance, repair, overhaul, modification, completion and conversion as well as the manufacture of innovative cabin products.
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