Vector Aerospace announces contract with Jazz Air
March 25, 2009, Toronto - Vector Aerospace Corp., through its wholly owned subsidiary Vector Aerospace Engine Services - Atlantic Inc., has been awarded a seven-year engine maintenance contract with Jazz Air LP.
March 25, 2009, Toronto – Vector Aerospace Corporation (TSX-RNO) (Vector) has announced that it has, through its wholly owned subsidiary Vector Aerospace Engine Services – Atlantic Inc. (Vector Atlantic), been awarded a seven year engine maintenance contract with Jazz Air LP (Jazz), as represented by its general partner, Jazz Air Holding GP Inc.
The signing of this contract, which is expected to generate approximately US$170M over the seven-year term, is an example of Vector’s strategy to continue to build long term partnerships with its customers. The PW100 series engines are part of Vector’s engine services portfolio which includes both fixed wing and rotary applications for products from the world’s leading aircraft OEMs.
Declan O’Shea, President and Chief Executive Officer of Vector Aerospace, said: “We are delighted to establish this long term relationship with a great company like Jazz. We are firmly committed to deliver on our promises to all our customers and continue to build an organization which is a leader in the global MRO industry.”
Vector Atlantic President, Brian Thompson, said: “Vector Atlantic has a long history of serving the PW100 turboprop market. We have built our reputation on listening to our customers needs and providing industry-leading customer service. Our entire team is committed to serving Jazz, a leader in the regional airline market, and an operator of one of the largest PW100 series engine fleets in the world.”
Vector Atlantic, headquartered in Summerside, Prince Edward Island, (formerly Atlantic Turbines), is a fully-authorized Pratt & Whitney Canada (PWC) Distributor & Designated Overhaul Facility (DDOF). Under the terms of the contract, Vector Atlantic will provide engine maintenance repair and overhaul (MRO) for the Jazz fleet of PW120A and PW123 engines.
Vector Aerospace Corporation is an independent provider of aviation repair and overhaul services. Through facilities in Canada, the United States, the United Kingdom and Africa, Vector provides services to commercial and military customers for various types of gas turbine engines, components and helicopter airframes. The Company has approximately 2,500 employees.