MADRID--AeroTurbine and Lufthansa Technik (LHT) have finalized a wide-ranging partnership that includes teaming up on use, refurbishment, and distirbution of used serviceable material (USM) as well as other complimentary services, the companies plan to announce Wednesday.
Unveiled last October as a tentative agreement, the strategic partnership gives LHT a reliable pipeline of USM that it can use to cost-effectively support customers on long-term, performance-based support agreements. LHT can also use AeroTurbine’s market presence to dispose of surplus USM, and offers AeroTurbine a partner to help with repairs of parts that the U.S.-based company distributes.
Bigger-picture, the deal creates a potentially fruitful strategic partnership between lessor AerCap, AeroTurbine’s parent, and LHT. Possible synergies include LHT assisting with asset transitions between lessees and AerCap providing a pipeline of used parts or entire aircraft and engines that could find their way to LHT via AeroTurbine.
Finalization of the deal, expected to be announced during MRO Europe, makes official a partnership that has been forming for nearly a year. Both sides have been working to identify areas of cooperation and, in some cases, providing support to each other throughout the year, sources familiar with the partnership said.