Finnair and SR Technics sign 10-year contract on engine and component services

SR Technics and Finnair have signed an agreement for engine and component services. The deal follows a Memorandum of Understanding signed by the two companies on April 11, 2012. Finnair will source all Engine Services for its A320 and A340 aircraft and Component Services for its Airbus and Embraer fleet from SR Technics. The work will start in July 2012 for engine services and in September 2012 for component services. As a part of the agreement, SR Technics’ affiliate will also acquire related tangible assets and inventories from Finnair. Finnair expects the cooperation to result in significant cost savings for the company.