Piedmont Aviation (TAT-Piedmont), a fully owned subsidiary of TAT Technologies, and Honeywell have signed a 10-year agreement for an exclusive worldwide Auxiliary Power Unit (APU) rental services for OEM authorized GTCP331-500 engines.
As part of the deal, TAT-Piedmont has acquired Honeywell’s GTCP331-500 APU’s rental bank and will offer rental services to airlines that are operating Boeing’s 777 aircraft. The company will serve on behalf of Honeywell for any rental of Honeywell GTCP331-500 APUs to Honeywell customers on an exclusive basis.
In addition, TAT-Piedmont and Honeywell entered into a binding MOA to authorize TAT-Piedmont to provide licensed MRO services on GTCP331-500 APUs, and provide relevant knowhow and parts, making TAT-Piedmont an authorized global MRO services provider for this engine.
“This agreement is a significant step in the development of TAT-Piedmont as a major global player in the APU MRO services business, and will improve support and options for Honeywell APU customers,” said Igal Zamir, CEO of TAT Technologies.
“The GTCP331-500 APU engine, which is installed in all Boeing 777 aircraft around the world, is expected to be in operation for the next few decades, generating meaningful MRO business opportunities,” Zamir added. “The rental services agreement and the anticipated authorization to provide licensed MRO services, are major growth opportunities for TAT.”
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