Etihad and SR Technics deepen their long-term partnership through expanded 10-year ICS agreement

Zurich, Switzerland: SR Technics, part of the Mubadala Aerospace MRO network, and Etihad Airways, the national airline of the United Arab Emirates, have signed an agreement to extend and deepen their existing cooperation. SR Technics will continue to provide a full suite of Integrated Component Services (ICS) for the airline’s Airbus A320, A330 and A340 fleets until 2023. Additionally, SR Technics will extend its services to cover the Boeing 777 fleet. The new contract covers all of Etihad’s current 72 aircraft and future deliveries of the same type. This cornerstone agreement provides a volume of approximately USD 350 million and will include SR Technics’ first entry into ICS services for Boeing 777 aircraft.

Sanad Aero Solutions (Sanad), Mubadala Aerospace’s spare engine and component financing and leasing company, is closely involved through a sale and leaseback solution for rotable component spares that was previously announced as part of a separate 10-year agreement.

Combining a wide range of aero solutions along the component lifecycle, the cooperation with Etihad leverages SR Technics’ and Sanad’s global expertise, and inventory pools in Zurich and Abu Dhabi to ensure a seamless local service and operations for Etihad Airways. The capabilities provided include a full suite of maintenance, inventory management, engineering and financing.

“We are very proud to expand our close relationship with the Etihad family as it demonstrates their confidence in the high quality standards we deliver and our market-leading value proposition,” says James Stewart, Group CEO of the Mubadala Aerospace MRO network. “We will continue to support the airline’s growth strategy and to add value through our tailor-made services and strong expertise.”

André Wall, President of SR Technics, added: “The expanded ICS agreement is the result of SR Technics’ proven performance over recent years. We are very pleased to strengthen our relationship with Etihad Airways focusing on seamless solutions along the aircraft value chain, and to grow our strategic partnership still further in the future.”

Werner Rothenbächer, Etihad Airways Senior Vice President Technical, said: “Etihad Airways requires a strong partner that understands our need for consistently high levels of service and reliability. SR Technics shares our high expectations regarding quality and cost-efficiency, and has a proven track record in meeting our requirements. We look forward to continuing our close cooperation with SR Technics as one of our preferred suppliers.”