Spirit AeroSystems (SPR), Malaysia Airlines Berhad sign Memorandum of Understanding to create MRO services for 737NG
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Spirit AeroSystems, Inc. [NYSE – SPR] announced today at MRO Asia-Pacific in Singapore a Memorandum of Understanding (MOU) with Malaysia Airlines Berhad (MAB) to develop maintenance, repair and overhaul (MRO) services for the 737 Next Generation Aircraft.
Under the terms of the agreement, Spirit and MAB will start to jointly work on establishing repair services for nacelle and flight control surfaces to support the airline’s fleet and the planes of other operators before the end of 2022.
“This is an important development as Spirit Aftermarket Services continues to expand service offerings to the important Asia-Pacific market,” said Kailash Krishnaswamy, Senior Vice President of Aftermarket Services for Spirit.
Krishnaswamy said Spirit’s Aftermarket business continues to grow since the 2021 acquisition of select Bombardier maintenance, repair and overhaul operations in Belfast, Northern Ireland, and Casablanca, Morocco; the acquisition of assets from Applied Aerodynamics in Dallas, Texas, USA; and the SEAS joint venture. Spirit’s Aftermarket business revenues have grown from $186 million in 2019 to $239.9 million in 2021. Spirit is targeting to grow the Aftermarket business to $500 million in revenue by 2025.
Ahmad Luqman Mohd Azmi, Group Chief Operations Officer of MAB, said, “We are delighted to fortify our partnership with global players within the aviation landscape, especially in leveraging the capabilities of MAB Engineering’s expertise in providing reliable and high-quality MRO services that prioritises safety. This is in line with our Long-Term Business Plan 2.0 aspirations of becoming Asia’s leading travel and aviation services provider which will further accelerate the growth of our MRO services and capabilities within the region.”
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