SR Technics and the Airberlin Group deepen partnership for engine services

Zurich, February 23, 2011

SR Technics and the Airberlin Group have agreed to expand their successful ten-year engine maintenance contract. Building on the existing accord, the two companies have signed a further agreement to deepen their engine maintenance partnership.

The new contract covers exclusive maintenance services for more than 300 engines. This will include CFM56-7B, CFM56-5B, and PW4168 engines for their whole Airbus and Boeing fleet. SR Technics will provide maintenance services for 95% of all engines of the Airberlin Group.

Customized financing solutions
A key element of the new agreement is the expansion of financing solutions for Life Limited Parts (LLP) and additional spare engine support, provided by SR Technics and Sanad Aero Solutions, Mubadala’s innovative new asset finance and leasing entity. Sanad offers a broad spectrum of spare component and engine leasing solutions that enable airlines to monetize existing assets, secure inventory solutions required to support fleet growth and access a growing array of world class MRO and technical service services offered by Mubadala Aerospace’s global MRO network.

“We are delighted that Airberlin has chosen SR Technics as their primary engine MRO provider”, said James Stewart, Chief Executive Officer of SR Technics. “We see this agreement as confirmation of the high quality standards we have delivered in the past, and the value of our customized financing solutions. We look forward to continuing our support of Airberlin’s ongoing development.”

“We are confident that SR Technics will continue delivering a quality service providing safe and secure operations, on time and at a price which meets our business needs”, said Ulf Hüttmeyer, Chief Finance Officer of Airberlin.

For further information please contact:
SR Technics
Karin Freyenmuth Head Corporate Communications Phone: +41 43 812 46 76 Fax: +41 43 812 14 98