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Spirit AeroSystems appoints GMR Aero Technic as aftermarket repair supplier in India

HYDERABAD, India, February 20, 2023–(BUSINESS WIRE)–Spirit AeroSystems, Inc. today announced an agreement with GMR Aero Technic to become Spirit’s Authorized Repair Center in India for Boeing and other aircraft.

This press release contains multimedia elements. View the full press release here: https://www.businesswire.com/news/home/20230219005029/en/

Spirit AeroSystems signs an agreement appointing GMR Aero Technic as the company’s MRO supplier in India. Front, from left: Ashok Gopinath, Chief Executive Officer, GMR Aero Technic, and Kailash Krishnaswamy, Senior Vice President, Aftermarket Solutions, Spirit AeroSystems. Rear, from left: Rear Admiral Srinivas Kanugo, AVSM, VSM (retired), Strategic Advisor, GMR Aero Technic; Ganapati Hebbar, Manager, Supplier Development and Growth, Boeing India; Ashwani Bhargava, Senior Director Supply Chain, Boeing India; Air Cdme DB Murali, VSM (Retired), AVP, Business Development, GMR Aero Technic; and Anil Kumar, Senior Manager of Business Development, GMR Aero Technic. (Photo: Business Wire)

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 partner 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 structural component repair expertise for Boeing and other aircraft. We are pleased to now be able to jointly offer structural component repairs of the 737 MAX and other platforms in India’s fast 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.”

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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 enabling 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 “aim”, “anticipate”, “believe”, “may”, “continue”, “estimate”, “expect”, “target”, “forecast” , “intention”, “may”, “might”, “target”, “prospect”, “plan”, “forecast”, “project”, “should”, “target”, “will”, “would”, and other similar words or phrases, or their negative, unless the context requires otherwise. These statements reflect management’s current views with respect to future events and are subject to both known and unknown risks and uncertainties. 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 that could cause actual results to differ materially from those reflected in such forward-looking statements and that should 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.

View the source version at businesswire.com: https://www.businesswire.com/news/home/20230219005029/en/


Media: Forrest Gossett(316) [email protected]

Investor Relations: Aaron Hunt(316) [email protected]

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