Spirit AeroSystems, Inc. announced today an agreement with
Jordan Aircraft Maintenance Company, Joramco, to be a Spirit
Authorized Maintenance, Repair and Overhaul (MRO) center.
Joramco, based in Amman, Jordan, is a maintenance, repair, and
overhaul provider and the engineering arm of Dubai Aerospace
Enterprise (DAE). Joramco will provide a wide range of repairs and
services of composite and metallic aerostructures to customers in
the region.
Under this agreement, Joramco will initially provide total
nacelle repair services to both Airbus A320 and Boeing 737 aircraft
in partnership with Spirit AeroSystems. Joramco and Spirit intend
to expand the services to other platforms, including Boeing
777.
“In early 2021, we laid out a strategy to be available ‘locally’
for our global customers. This agreement with Joramco is one of the
pillars of that strategy for our regional customers. Joramco is a
highly regarded MRO player, both for near- and far-reaching
operators. Our strategic alliance will enable Joramco to offer a
broader scope of repair services to its customers, and a broader
reach of customers for us,” said Kailash Krishnaswamy, Senior Vice
President of Spirit AeroSystems Aftermarket Solutions.
Commenting on the agreement, Joramco CEO Fraser Currie said: “We
are excited to see the Memorandum of Understanding (MOU) that was
signed with Spirit AeroSystems last year come to fruition. Spirit
AeroSystems is one of the world's largest manufacturers of
aerostructures for commercial airplanes with vast capabilities and
this is hopefully just the beginning of an evolving collaboration.
The agreement is another key step forward for Joramco meeting the
objective to expand the capabilities and enhancing the support to
our global customer base.”
Spirit’s Aftermarket business continues to grow worldwide since
the acquisition of select Bombardier maintenance, repair and
overhaul operations in Belfast, Northern Ireland, and Casablanca,
Morocco; and the acquisition of assets from Applied Aerodynamics in
Dallas, Texas, USA.
Over the last year, Spirit Aftermarket services has opened
Spirit Evergreen Aftermarket Solutions (SEAS), a joint venture with
Evergreen Aviation Technologies Corp. in Taiwan; signed an
agreement with Guangzhou Aircraft Maintenance Engineering Company
Limited (GAMECO) to be the Spirit Authorized Repair Center in
Mainland China; signed an agreement with GMR Aerotechnic to be the
Spirit Authorized Repair Center in India; and has signed a MOU with
Malaysia Airlines Berhad (MAB) to develop maintenance, repair and
overhaul services. Spirit’s Aftermarket business revenues have
grown from $186 million in 2019 to $311 million in 2022.
Spirit AeroSystems, Inc. ("Spirit") is a subsidiary of Spirit
AeroSystems Holdings, Inc. [NYSE: SPR] (“Spirit AeroSystems”).
Joramco, based at Queen Alia International Airport in Amman, has
more than 50 years of experience. It has built a solid track record
as a leading independent commercial aircraft maintenance, repair
and overhaul facility serving a wide range of customers in the
Middle East, Europe, South Asia, and Africa, offering services on
several aircraft models from the Airbus, Boeing, and Embraer
fleets. Joramco is certified by many international regulatory
authorities including the European Aviation Safety Agency (EASA),
the U.S. Federal Aviation Administration (FAA) and the Jordanian
Civil Aviation Regulatory Commission (JCARC).
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/20230301005555/en/
Media: Forrest Gossett (316) 523-5197
forrest.s.gossett@spiritaero.com
Investor Relations: Ryan Avey (316) 523-7040
investorrelations@spiritaero.com
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