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TAE Aerospace has confirmed is acquisition of Honeywell Aerospace's TPE331 Engine Rental Bank.
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The move will see Honeywell’s 21 TPE331 rental engine variants from -5 to -14 added to TAE Aerospace’s existing rental engines pool with the engines leased out of TAE Aerospace’s facilities in Scottsdale, Arizona (US), and Adelaide, Australia.
All customer related MSP arrangements remain with Honeywell. Honeywell customers will continue to receive their TPE331 rental engines under the existing terms of their current Maintenance Service Plans (MSP) agreements with Honeywell under the new arrangement.
The acquisition is effective immediately and TPE331 engines will now be provided by TAE Aerospace, rather than Honeywell.
According to Andrew Sanderson, TAE Aerospace CEO, the deal will allow TAE to expand its reach and support levels for the TPE331 customer base, providing a faster, more integrated customer experience for all its TPE331 customers.
“There are thousands of TPE331 operators around the world and by adding broader coverage for rental engines, we are now clearly positioned to be the first choice MRO provider for that market,” Sanderson said.
“We have TPE331 customers in Europe, North and South America, the Middle East, Africa and the Asia-Pacific and we can now service even more of them even faster while still providing the high-quality engine performance and value we’re renowned for.”
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