Extension of financing with Swiss Bank Consortium
SR Technics, a world leading MRO service provider, announced today that it had concluded an exclusive contract with Condor Flugdienst GmbH, part of the Thomas Cook Group Airlines, Germany’s most popular leisure airline, to service its Pratt & Whitney (PW) 4000 engine fleet.
The six-year contract covers SR Technics’ turnkey support for Condor’s PW4000 fleet, which keeps its Boeing 767 fleet flying with safe and efficient operations. The contracted work, which will include engine overhauls, will be carried out at the SR Technics Center of Excellence for Engine Services in Zurich, Switzerland.
SR Technics’ interim CEO Jeremy Remacha commented: “We have enjoyed a long-standing relationship with Condor and the Thomas Cook Group Airlines, and now our flexible and cost-efficient turnkey solution has resulted in this exclusive engine services contract. In addition, we have provided Condor with financial risk mitigation and other value-adding benefits including exclusive access to a spare engine parts pool and a spare engine. All of that was arranged in addition to guaranteeing the excellent technical services that every SR Technics customer expects of us.”
Jaakko Schildt, Head of Thomas Cook Airlines’ Group Maintenance Organisation which services the Condor fleet, said: “We are looking forward to working with SR Technics for the next six years to ensure that our customers benefit from smooth operations and on-time performance.”