AeroTurbine Signs Three Year Exclusive Engine Management Agreement with Webjet Linhas Aereas
AMSTERDAM and MIAMI, Feb. 14, 2011 /PRNewswire/ -- AerCap Holdings N.V. ("AerCap," NYSE: AER) announced today that its subsidiary AeroTurbine Inc., Miami, has signed a three year exclusive agreement with Webjet Linhas Aereas S.A. Under this agreement, AeroTurbine will provide engine management services to Webjet.
AeroTurbine will manage all "off-wing" engine maintenance events for Webjet's growing CFM56-3 engine fleet which currently consists of 45 CFM56-3 engines. Webjet will be the launch customer for AeroTurbine's newly introduced AeroTurbine Flexible Engine Care Solutions (AFECS), which provides customers with a tailored engine fleet maintenance product based on the individual operational and financial goals of the client.
"We are excited that the marketplace has responded so quickly to our new AFECS service offering," said Michael King, AeroTurbine President and Chief Executive Officer. "AeroTurbine is proud to have developed a first-in-industry approach to managing older power plants. We are a market leader in the CFM56-3 engine segment for material supply, engine leasing, and engine exchanges. I am pleased that we were able to successfully combine these products into a viable service solution that minimizes engine downtime and maintenance expense. We look forward to working with Webjet on this program and being part of their continued success in the coming years."
About AerCap and AeroTurbine
AerCap is an integrated global aviation company with a leading market position in aircraft and engine leasing, trading and parts sales. AeroTurbine is a subsidiary of AerCap focusing on engine leasing and trading, airframe and engine disassembly, aviation supply chain solutions, part sales and MRO services.
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For Media: For Investors: Frauke Oberdieck, AerCap Peter Wortel, AerCap Tel. +31 20 655 9616 Tel. +31 20 655 9658 foberdieck@aercap.com pwortel@aercap.com
SOURCE AerCap Holdings N.V.
Released February 14, 2011