Honeywell and ITP Aero reach new agreement for aircraft engine repairs

This new service will improve turnaround times and provide local repair capabilities for European operators.

Phoenix, April 11^th, 2024 — Honeywell (NASDAQ: HON) and ITP Aero, a world-leading aerospace propulsion company, have announced plans to create a new authorized service center for Honeywell’s F124-GA-200 aircraft engines.

Based in Madrid, ITP Aero’s Ajalvir site will be a licensed maintenance, repair and overhaul (MRO) facility for the International Turbine Engine Company (ITEC), a joint venture between Honeywell Aerospace Technologies and the Aerospace Industrial Development Corporation (AIDC). The agreement supports Honeywell’s alignment with the megatrend of the future of aviation, providing advanced technological support to increase efficiencies and improve sustainable operations.

This first European center for Honeywell’s F124-GA-200 engine will be operational by the end of 2024 and bring local repair capabilities to more than 150 engines in the region. It will provide operators with faster repair turnaround times, since engines will be transported and repaired locally. This will be Honeywell’s third regional service center for F124-GA-200 engine support, with other centers located in North America and the Asia Pacific region.

“These engines have been the backbone of numerous air forces around the globe,” said John Head, vice president and general manager, Engines, Honeywell Aerospace Technologies. “What sets the engine apart is its modular design, ease of maintenance, and remarkable power-to-weight ratio. We are pleased to open this new service center to better serve our customers.”

“This is an exciting milestone for us that adds to our long-standing partnership with Honeywell. This agreement forms part of our global growth plans, expanding our MRO capabilities and service offerings and developing new MRO solutions to meet the changing needs of the market and our valued customers,” said Álvaro Santodomingo, Executive Director of ITP Aero’s Defense business unit.

About Honeywell

Products and services from Honeywell Aerospace Technologies are found on virtually every commercial, defense and space aircraft. The Aerospace Technologies business unit builds aircraft engines, cockpit and cabin electronics, wireless connectivity systems, mechanical components and more. Its hardware and software solutions create more fuel-efficient aircraft, more direct and on-time flights and safer skies and airports. For more information, visit www.honeywell.com/us/en or follow us at @Honeywell_Aero.

Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends – automation, the future of aviation and energy transition – underpinned by our Honeywell Accelerator operating system and Honeywell Connected Enterprise integrated software platform. As a trusted partner, we help organizations solve the world’s toughest, most complex challenges, providing actionable solutions and innovations through our Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments that help make the world smarter, safer and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom

About ITP Aero

ITP Aero is a global leader in the design, development, manufacturing, and servicing of aero power plants and components for both commercial aviation and defence applications. ITP Aero has over the last thirty-five years demonstrated its ability to continuously advance its core capabilities and develop new offerings, lead large-scale development programmes and work in strong partnership with its global customers and partners as can be seen from our positioning on some of today’s most environmentally friendly new engine platforms. As an independent global company with more than 5000 employees across facilities in Spain, UK, Mexico, USA, Malta and India, ITP Aero continues to invest to build and evolve its proprietary technology, operational capacity & sustainability and product and service offerings all the while ensuring a strong governance foundation and commitment to its values.

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