Spirit AeroSystems Announces Repair Center Agreement with GAMECO
26 April 2022 - 12:00PM
Business Wire
Spirit AeroSystems, Inc. announced today an agreement with
Guangzhou Aircraft Maintenance Engineering Company Limited (GAMECO)
to be the Spirit Authorized Repair Center in Mainland China.
GAMECO was founded in 1989 as a joint venture of China Southern
Airlines, Hutchison A/C Maintenance Investment and South China
International A/C Engineering.
“Spirit AeroSystems is pleased to work with GAMECO to offer
Mainland China air carriers with local, in-country service that
will reduce freight costs and overall aircraft downtime,” said
Kailash Krishnaswamy, Senior Vice President of Spirit Aftermarket
Services. “Through this agreement, GAMECO will expand its offerings
to its customer by leveraging Spirit’s component repair
expertise.”
Initially, GAMECO will provide repair services to replace Boeing
757 RB211 inlet cowlings and A330 Trent inlet cowlings with plans
to expand into nacelle work for Spirit customers.
Spirit has signed agreements with two freight carriers to place
757 inlet cowling work with GAMECO. In February, Spirit signed a
contract with YTO Cargo Airlines (YTO), based in Hangzhou, China;
and in September 2021, Spirit signed a 10-year agreement with SF
Airlines (SFA), a cargo carrier based in Shenzhen, China.
Spirit’s Aftermarket business continues to grow since the
acquisition of select Bombardier maintenance, repair and overhaul
operations in Belfast, Northern Ireland, and Dallas, Texas; the
acquisition of assets from Applied Aerodynamics in Dallas, Texas,
USA; and the signing of a joint venture agreement with Evergreen
Aviation Technologies Corporation in Taiwan. Spirit’s Aftermarket
business revenues have grown substantially from $186 million in
2019 to $239.9 million in 2021, and is targeting to grow the
Aftermarket business to $500 million in revenue by 2025.
Spirit AeroSystems, Inc. ("Spirit"), is a subsidiary of Spirit
AeroSystems Holdings, Inc. [NYSE: SPR] (“Spirit AeroSystems”).
On the web: www.spiritaero.com On Twitter: @SpiritAero
About Spirit AeroSystems Inc.
Spirit AeroSystems is one of the world's largest manufacturers
of aerostructures for commercial airplanes, defense platforms, and
business/regional jets. With expertise in aluminum and advanced
composite manufacturing solutions, the company's core products
include fuselages, integrated wings and wing components, pylons,
and nacelles. We are leveraging decades of design and manufacturing
expertise to be the most innovative and reliable supplier of
military aerostructures, and specialty high-temperature materials,
enabling warfighters to execute complex, critical missions. Spirit
also serves the aftermarket for commercial and business/regional
jets. Headquartered in Wichita, Kansas, Spirit has facilities in
the U.S., U.K., France, Malaysia and Morocco. More information is
available at www.spiritaero.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking statements" that
may involve many risks and uncertainties. Forward-looking
statements generally can be identified by the use of
forward-looking terminology such as "aim," "anticipate," "believe,"
"could," "continue," "estimate," "expect," "goal," "forecast,"
"intend," "may," "might," "objective," "outlook," "plan,"
"predict," "project," "should," "target," "will," "would," and
other similar words, or phrases, or the negative thereof, unless
the context requires otherwise. These statements reflect
management's current views with respect to future events and are
subject to risks and uncertainties, both known and unknown. Our
actual results may vary materially from those anticipated in
forward-looking statements. We caution investors not to place undue
reliance on any forward-looking statements. Important factors that
could cause actual results to differ materially from those
reflected in such forward-looking statements and that should be
considered in evaluating our outlook include, without limitation,
the impact of the COVID-19 pandemic on our business and operations;
the timing and conditions surrounding the full worldwide return to
service (including receiving the remaining regulatory approvals) of
the B737 MAX, future demand for the aircraft, and any residual
impacts of the B737 MAX grounding on production rates for the
aircraft; our reliance on Boeing for a significant portion of our
revenues; our ability to execute our growth strategy, including our
ability to complete and integrate acquisitions; our ability to
accurately estimate and manage performance, cost, and revenue under
our contracts; demand for our products and services and the effect
of economic or geopolitical conditions in the industries and
markets in which we operate in the U.S. and globally; our ability
to manage our liquidity, borrow additional funds or refinance debt;
and other factors disclosed in our filings with the Securities and
Exchange Commission. These factors are not exhaustive and it is not
possible for us to predict all factors that could cause actual
results to differ materially from those reflected in our
forward-looking statements. These factors speak only as of the date
hereof, and new factors may emerge or changes to the foregoing
factors may occur that could impact our business. Except to the
extent required by law, we undertake no obligation to, and
expressly disclaim any obligation to, publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20220426005161/en/
Media: Forrest Gossett (316) 803-2975
forrest.s.gossett@spiritaero.com
Investor Relations: Aaron Hunt (316) 523-7040
investorrelations@spiritaero.com
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