29 April 2020: AvAir and Lufthansa Technik Component Solutions signed a long-term aftermarket sales agreement. According to the agreement AvAir has acquired the complete rotable spares pool inventory that includes 9,000 line items valued at USD 100 million. All serviceable parts come from the Lufthansa Airline Group and other Lufthansa Technik customer fleets and they were maintained by Lufthansa Technik's component MRO (maintenance, repair and overhaul) organization.
The first components will be delivered immediately from Lufthansa Technik facilities in Germany to AvAir facilities in Ireland and the United States. The complete transfer will be finalized within the next three months.
"We are extremely excited for this agreement, which not only solidifies the relationship built between AvAir and Lufthansa Technik over the past 20 years, but also allows us to greatly address the inventory needs of our customers worldwide," said Mike Bianco, CEO of AvAir.
With this transaction, AvAir has added a wide range of commercial and regional aircraft material to its inventory. Commercial assets include A320, A320-NE0, A330, A340, A350, A380, MD-11, B737-NG, B737-MAX, B747, B757, B767, B777, and B787. Regional assets include CRJ, ERJ and Q400. All material will come with fresh dual release certification (FAA/EASA) from Lufthansa Technik and come with a 12-month warranty.
"Over the past few months, we have been able to increase the efficiency of our supply chain with an improved allocation of our rotable spare parts inventory," said Georg Fanta, vice president of Lufthansa Technik. "This has enabled us to release the material into this sales program with AvAir. The teams of AvAir in Chandler and Lufthansa Technik's Component Division in Miami started working on this initiative at the end of 2019 and are now moving forward to utilize AvAir's trade expertise and worldwide customer network for similar opportunities in the future."