Talking to Bo Lump, Senior Vice President Business Development, SR Technics
SR Technics has recently sold its airframe maintenance business to EasyJet to focus on engine maintenance. What led to the decision to exit the base maintenance business?
Coming out of the COVID-19 period, SR Technics recognized that engine maintenance is our company's core strength. We've been exploring ways to streamline our focus on engine maintenance, and the opportunity to partner with EasyJet, a longstanding partner, seemed ideal. It benefits both the company and the employees involved.
This transition provides a great opportunity for both SR Technics and our dedicated employees. It aligns with our strategy to focus on the core of our business, which is engine maintenance.
Recently, you opened a new Pratt and Whitney GTF engine shop and a second test cell. Could you share your future plans for the engine maintenance business?
Our focus will remain on servicing both legacy platforms like the CFM 56-5B and 7B engines, as well as the Pratt 4000, which we'll continue supporting. At the same time, we're preparing to service new platforms, which are essential for our future growth as older models eventually phase out.
We're fortunate to join the GTF network, positioning us on a modern platform. We received our first GTF engine in July and officially inaugurated the new facility and test cell last month in September.
SR Technics is investing significantly to revitalize an old test cell and build new facilities, giving us the capacity to handle both legacy and new lines. This expansion will double our engine maintenance capacity by 2028, a substantial growth milestone.
Extensive in-house repair capabilities are crucial in engine maintenance. How do you see SR Technics' current and future capabilities in this area?
Our in-house repair capabilities are a key advantage, with over 90% repair rates on the CFM and PW 4000 engine. This is particularly valuable amid widespread supply chain challenges. We plan to maintain this repair approach for new engine platforms as well.
In addition to in-house repairs, we offer third-party repair services, including at our facility in Ireland, which specializes in airfoils, a critical component of engine maintenance. This facility is expanding to accommodate new repair needs for upcoming engine models.
Does SR Technics offer end-of-life solutions for aging engine types?
Yes, we do offer end-of-life solutions, though they are customized based on each operator's needs. Operators with leased assets often return them to the lessor, while those who own their assets look for ways to extend their life due to delays in new hardware.
Our end-of-life solutions include options like module swaps – mainly for LPTs and core power solutions, asset monetization, and other specific measures. Each operator has unique requirements, so we tailor solutions to help them phase out their fleets effectively.
There's no one-size-fits-all solution, so our approach is to understand each airline's specific needs and create a solution that truly supports their goals.
