Parker Aerospace Group and Lufthansa Technik Announce Long-Term Agreement for Airbus A350 Component Support and Service
September 29 2017 - 5:14PM
Business Wire
Agreement covers majority of components for the Parker-designed
A350 fuel, hydraulic, and fuel tank inerting systems
Parker Aerospace, a business group of Parker Hannifin
Corporation, the global leader in motion and control technologies,
is announcing an agreement with Lufthansa Technik for long-term
collaboration for Airbus A350 component maintenance, repair, and
overhaul (MRO) services. The agreement, being announced at MRO
Europe 2017, covers the majority of repairable components for the
Parker-designed A350 fuel, hydraulic, and fuel tank inerting
systems.
The agreement between Lufthansa Technik and Parker Aerospace
will encompass the joint development of repair procedures to
increase component and systems reliability and reduce related
maintenance costs for airline customers worldwide. Airbus and
operators benefit from shared best practices and collaborative
approaches to continuous improvement in repair performance. The
collaboration will help optimize services by focusing on repair
development, instead of replacing components, keeping them in
flight longer to reduce costs.
Parker is the original equipment manufacturer (OEM) and a global
leader in developing and integrating components across many
aerospace technologies. Lufthansa Technik is a world leader in MRO
with extensive knowledge of airline operations. By combining
efforts with a new way of doing business, customers benefit from
OEM data combined with powerful MRO insight and repair
capabilities.
“Parker´s objective has always been to develop a strong network
and provide local solutions for MRO and part availability,” said
Parker Aerospace Customer Support Operations (CSO) Vice President
of Commercial Aftermarket Vic Jorcyk. “By collaborating we will
achieve the best cost-savings for customers, optimize reliability,
and develop better repairs by combining our competencies.”
Lufthansa Technik Vice President Aircraft Component Services
Harald Gloy stated, “This agreement enhances Lufthansa Technik´s
position as a key MRO provider on A350 components. I am very
pleased that we could further extend the long-standing successful
relationship between Parker and Lufthansa Technik.”
Stock Symbol: PH-NYSE
Parker Aerospace is exhibiting at stand #1047 at MRO Europe,
October 3-5, 2017
About Parker Aerospace. Parker Aerospace is a global
leader in the research, design, integration, manufacture,
certification, and lifetime service of flight control, hydraulic,
fuel and inerting, fluid conveyance, thermal management,
lubrication, and pneumatic systems and components for aerospace and
other high-technology markets. The company supports the world’s
aircraft and aeroengine manufacturers, providing a century of
experience and innovation for commercial and military aircraft.
About Parker Hannifin. Parker Hannifin is a Fortune 250
global leader in motion and control technologies. For 100 years the
company has engineered the success of its customers in a wide range
of diversified industrial and aerospace markets. Learn more at
www.parker.com or @parkerhannifin.
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170929005794/en/
Parker AerospaceBrian King, +1
714-458-7416brian.king@parker.comorLufthansa Technik AG Corporate
Communications+49-40-5070-3667press.pr@lht.dlh.de
Parker Hannifin (NYSE:PH)
Historical Stock Chart
From Aug 2024 to Sep 2024
Parker Hannifin (NYSE:PH)
Historical Stock Chart
From Sep 2023 to Sep 2024