HYDERABAD, India–(BUSINESS WIRE)–Spirit AeroSystems, Inc. today announced an agreement with GMR Aero Technic to be Spirit’s Authorized Repair Center in India for Boeing and other aircraft.
GMR Aero Technic, a subsidiary of GMR Hyderabad International Airport Limited (GHIAL), is a third party airframe maintenance, repair and overhaul (MRO) facility offering base maintenance, line maintenance, limited shop support and components and cabin interiors at Rajiv Gandhi International Airport (RGIA), Hyderabad.
“Spirit AeroSystems is delighted to be working with GMR Aero Technic to extend its presence in India, bringing engineering and repair knowledge and experience to its customers’ operations,” said Kailash Krishnaswamy, senior vice president, Spirit Aftermarket Services. “Through this agreement, GMR Aero Technic will expand its offerings to its customers by leveraging Spirit’s expertise in repairing structural components for Boeing and other aircraft. We are delighted to now be able to jointly offer structural component repairs of the 737 MAX and other platforms in India’s rapidly growing MRO sector.”
Commenting on the agreement, GMR Aero Technic CEO Ashok Gopinath said, “We are delighted to announce our strategic partnership with Spirit AeroSystems to provide a comprehensive solution to our customers by jointly establishing nacelle and radome repair capabilities in India. This partnership reaffirms our commitment to provide world-class MRO services and further contribute to the Make in India initiative by providing value-added services to our clients in this part of the world.”
Initially, GMR Aero Technic will provide nacelle, radome and flight control surface repair services for all narrow body aircraft, including Boeing’s 737 NG and MAX aircraft.
“Boeing continues to partner with local industry players, further furthering India’s aspiration to become an MRO hub for the region. The partnership between Spirit AeroSystems and GMR Aero Technic will strengthen MRO solutions for our airline customers in the region,” said Salil Gupte, president, Boeing India.
Spirit AeroSystems’ aftermarket business continues to grow worldwide since the 2021 acquisition of certain MRO operations of Bombardier in Belfast, Northern Ireland; and Casablanca, Morocco; and the acquisition of assets from Applied Aerodynamics in Dallas, Texas, USA.
In the past year, Spirit AeroSystems 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; and is exploring an opportunity with Malaysia Airlines Berhad (MAB) and Joramco to develop MRO services. Revenue from Spirit’s Aftermarket businesses grew from $186 million in 2019 to $311 million in 2022.
Spirit AeroSystems is a subsidiary of Spirit AeroSystems Holdings, Inc. [NYSE: SPR].
On the web: www.spiritaero.com On Twitter: @SpiritAero
About Spirit AeroSystems Inc.
Spirit AeroSystems is one of the world’s largest manufacturers of commercial aircraft aerostructures, defense platforms and commercial/regional jets. With expertise in aluminum and advanced composite manufacturing solutions, the company’s main products include fuselages, integrated wings and wing components, pylons and nacelles. We are leveraging decades of design and manufacturing experience to be the most innovative and trusted supplier of military aerostructures and specialty high-temperature materials, enabling fighters to perform complex and critical missions. Spirit also serves the aftermarket for commercial and business/regional jets. Headquartered in Wichita, Kansas, Spirit has facilities in the US, UK, 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 involve many risks and uncertainties. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “target”, “anticipate”, “believe”, “may”, “continue”, “estimate”, “expect”, “target”, “forecast” , “intention”, “may”, “could”, “goal”, “prospect”, “plan”, “forecast”, “project”, “should”, “target”, “will”, “would” and others similar words or phrases or their negatives, unless the context otherwise requires. 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 the forward-looking statements. We caution investors not to place undue reliance on forward-looking statements. Important factors which could cause actual results to differ materially from those reflected in such forward-looking statements and which should had to be considered in evaluating our prospects 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 receipt of remaining regulatory approvals) of the B737 MAX, future demand for the aircraft, and any remaining impact of the B737 MAX grounding on production rates of the aircraft; our reliance on Boeing for a significant portion of our revenues; our ability to execute on our growth strategy, including our ability to complete and integrate acquisitions; our ability to accurately estimate and manage performance, costs and revenues based on our contracts; the 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 United States and around the world; our ability to manage our cash, 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 today’s date, and new factors may emerge or changes to previous factors may occur which could impact our business. Except as required by law, we undertake no obligation and expressly disclaim any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Contacts
Media: Forrest Gossett
(316) 523-5197
Investor Relations: Aaron Hunt
(316) 523-7040
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