17th Aug 2005 07:00
easyJet PLC17 August 2005 Wednesday, 17th August, 2005 easyJet signs $1bn ten-year Airbus maintenance contract with SR Technics easyJet announces that it has selected SR Technics for the total maintenancesupport, excluding engines, of the airline's Airbus A319 fleet for a period often years. The agreement valued at $1bn over the life of the contract is one of the largestcontracts ever awarded by an airline for maintenance of a single aircraft typeand follows a very robust and highly-competitive global tendering process. Under the terms of the arrangement, Zurich-based SR Technics, which includesVirgin Atlantic, Cathay Pacific and Swiss amongst over 100 customers, willprovide full technical management, excluding engines, for easyJet's A319 fleet,planned to rise from 54 aircraft today to a total of 120 aircraft by 2008. SR Technics will continue to provide full support for easyJet's 55-strong Boeing737 fleet. The arrangements announced today also include an improvement to theterms of easyJet's existing contract for the maintenance of its 32 Boeing737-700s reflecting the synergies now available to SR Technics of the combinedoperation. Commenting on the deal, Ray Webster, Chief Executive, easyJet, said: "SR Technics is a long-established maintenance provider currently with over 100customers around the world. It has an excellent reputation for a quality serviceoffering in the industry and we are delighted to be continuing our relationshipwith them. "This 10 year deal provides easyJet with a reduction in Airbus maintenancecosts, excluding engines, of greater than 25% over the life of the contract anda saving of over £10 million on maintenance costs for the coming financial year.Along with our unbeatable A319 aircraft deal this demonstrates our continuedcommitment to improving our cost base and will help to underpin easyJet'sbusiness and earnings for the coming years." ENDS For further details please contact: easyJet plc Financial:Andrew Barker, Investor Relations +44 (0) 1582 525 982 Press:Toby Nicol, Corporate Communications +44 (0) 1582 525 339 Notes For the easyJet A319 fleet, SR Technics will provide a range of servicesincluding line, light and base maintenance, maintenance operations control,engineering & technical services, component repair and logistics management. SRTechnics' major facilities and easyTech, the joint venture at Luton that managesline maintenance across the network, will be the main locations to providesupport whilst SR Technics' international coverage will enable easyJet aircraftto be supported where required throughout Europe. Today's announcement marks an extension of existing arrangements between the twoparties, which began in 1998 when easyJet awarded its Boeing 737 maintenancecontract to FLS Aerospace (acquired by SR Technics in June 2004) and continuedin 2004 when easyJet selected SR Technics to support its new Airbus fleet, on aninitial basis. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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