Extension of financing with Swiss Bank Consortium
SR Technics, a world leading MRO service provider, and Vietravel Airlines, the first travel airline in Vietnam, signed two General Terms Agreements (GTA) at the Farnborough Airshow. One GTA is intended for CFM56-5B engine maintenance and another for engine lease support.
Vietravel Airlines, based in Ho Chi Minh City, currently operates three A321-200 with CFM56-5B engines and plans to grow by 25 aircraft in the next four years. The first scheduled engine shop visit is expected in the next year. SR Technics is constantly upgrading its in-house repair capabilities to further reduce the short turnaround times and continuously improve the performance. With this combination of quality, speed and cost-efficiency SR Technics will be unrivalled in the industry, making SR Technics the partner of choice among leading airlines worldwide.
Jean-Marc Lenz, Chief Executive Officer at SR Technics, stated “With these GTAs, SR Technics will continue to provide high quality, reliable services, and operational excellence to support the engine maintenance and lease support requirements. As SR Technics continues to develop new repair capabilities for new and legacy engine types and aircraft platforms, it will be in a good position to support Vietravel as it grows and renews its fleet.”
Mr. Vu Duc Bien, CEO of Vietravel Airlines says: "With the cooperation agreement between Vietravel Airlines and SR Technics, a unit specializing in engine maintenance with EASA and international standards, we believe that the airline's engines will be regularly maintained according to standards, to always be in the best condition to ensure the strict safety rules that the airline is applying. In addition, the signing of a comprehensive cooperation agreement will help the airline optimize the operating time of the aircraft since the time the engine is sent for maintenance (TAT - Turn around time) in the middle of each period is shortened, which helps the airline increase efficiency of the aircraft and reduce costs.