CHARLOTTE, N.C., July 16 /PRNewswire-FirstCall/ -- Farnborough
International 2006 -- Goodrich Corporation (NYSE: GR) 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.
SOURCE Goodrich Corporation; GR - Engine Systems
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Related links:
http://www.goodrich.com
CONTACT:
Gail K. Warner, +1-704-277-3943, or Lisa
Bottle, +1-704-258-1506, of Goodrich Corporation
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