To form specialized engine tear-down joint venture and develop its engine MRO portfolio with PW 4000
Paris, Amstelveen, Miami, 16 April 2013 - AFI KLM E&M is to optimize its US engine tear-own unit by forging a partnership with Bonus Tech and Bonus Aerospace. To do that, AFI KLM E&M is to acquire an equity stake in both companies, which will henceforth operate as part of the MRO?s global network.
The partnership involves creating a Miami-based joint venture between TSI, an AFI KLM E&M subsidiary specializing in engine tear-down, and Bonus Tech, a major player on the global engine tear-down market. The joint venture will group the know-how and skills of Bonus Tech in this sector, with the industrial assets - equipment, spare parts, tooling, and a spare engine - from the former TSI facilities.
Rapid, competitive access to spares
Engine tear-down, inspection and repair operations call for specialized know-how and dedicated equipment and resources. With the start-up of this joint venture, AFI KLM E&M will occupy a stronger position on this market to help it meet the needs of airlines seeking access to reconditioned engine spares within short lead times and at competitive prices, helping them to efficiently support their fleets while simultaneously reducing their costs. By joining forces with Bonus Tech, whose customers include leading engine makers such as GE and Pratt & Whitney, AFI KLM E&M can provide airlines worldwide with a comprehensive, competitive solution.
New capability for clients
Under the terms of the agreement, AFI KLM E&M will also acquire an equity stake in Bonus Aerospace, which is now adding Pratt & Whitney PW4000 powerplants repair capability. In doing so, AFI KLM E&M will extend the catalogue of the maintenance capabilities it offers its customers, and already has Skylease Cargo and Centurion Cargo, partner airlines for Bonus Aerospace, as its first customers. AFI KLM E&M is thus extending its Engine network and service offer in North America, while the Group can already offer its extensive know-how on a number of flagship products, such as the CFM 56, CF6 and GE90 aero engine families. Vincent Benoit, CEO of TSI, Bonus Tech & Bonus Aerospace, said: "This partnership constitutes a mutually beneficial opportunity. AFI KLM E&M will consolidate its tear-down offering and acquire privileged access to used engine spares to underpin its development strategy. Our Bonus Tech and Bonus Aerospace partners, for their part, will upgrade to a higher standard, backed by the expertise and international network of a major player on the Engine MRO market like AFI KLM E&M."