The FINANCIAL -- Flag carrier Philippine Airlines and maintenance, repair and operations (MRO) service provider SR Technics recently inked a 12-year Integrated Component Services agreement.
The signing ceremony, held at the Century Park Hotel, was attended by top officials of both companies, according to Philippine Airlines.
The accord covers the servicing of a total of 45 A321s and 15 A330-300s. This includes maintenance, component pooling and consignment of the main base kit ensuring flexible access to spare parts. SR Technics’ Center of Excellence for component maintenance in Kuala Lumpur, which currently serves over 460 aircraft in the Asia Pacific region, will manage the services.
"Safety remains the cornerstone of our operations. As such, we put premium in cultivating relationships with MRO experts to help ensure the reliability of our fleet," PAL President and Chief Operating Officer Jaime J. Bautista said.
SR Technics CEO Jeremy Remacha stressed, “We are delighted to contribute to the success of Philippine Airlines, extending our partnership for another 12 years. SR Technics has been expanding its presence in Asia over the past few years, and we are committed to further develop our services in this fast-developing market.
"This new agreement demonstrates our world-class quality and reliability, offering our customers genuine added value. We look forward to supporting PAL for many years to come," he added.
Both PAL and SR Technics also signed a five-year engine maintenance contract to support the airline's entire fleet of CFM56-5C engines. Under the agreement, PAL will utilizeBeyond.Fleet.Services™, a product suite which extends the life of maturing fleets and reduces the day-to-day operating costs for engines, airframe and component maintenance. SR Technics and Aerfin jointly manage the said services.