Triumph Group And Air France Industries KLM Engineering & Maintenance To Form Joint Venture

Rhea-AI Summary

Triumph Group and Air France Industries KLM Engineering & Maintenance have announced a joint venture to enhance nacelle maintenance, repair, and overhaul services for next-generation aircraft at Triumph's facility in Hot Springs, Arkansas. This partnership, stemming from their collaboration in June 2019, aims to provide global MRO support to operators in North and South America. The agreement is pending regulatory approval and is expected to help both companies capitalize on the recovery of the aviation industry post-COVID-19.

Positive

• Formation of a joint venture for nacelle MRO services enhances service offerings.
• Partnership leverages combined expertise to provide seamless global support.
• Response to recovery in the aviation sector post-COVID-19.

Negative

• None.

BERWYN, Pa. and PARIS and AMSTELVEEN, Netherlands, March 31, 2021 /PRNewswire/ -- Triumph Group [NYSE:TGI] and Air France Industries KLM Engineering & Maintenance (AFI KLM E&M) announced today they have signed a definitive agreement to form a joint venture to overhaul nacelles for next generation aircraft at Triumph's Hot Springs, Arkansas repair facility.

Building on their partnership announced in June 2019, Triumph Group and AFI KLM E&M will provide expanded 'new gen' nacelle maintenance, repair and overhaul (MRO) services for customers based in North and South America.  The formation of this joint venture, subject to regulatory approval, represents the critical first phase of the parties' previously announced strategic collaboration to leverage their combined expertise and capabilities to provide seamless global MRO support to customers regardless of location. From operational issues to regular maintenance, the joint venture will benefit aircraft operators in the Americas by offering the combined experience of a global airline-MRO that operates and maintains 'new gen' aircraft with that of a trusted and established MRO service provider.

Johann Panier, SVP Business Development & Strategy AFI KLM E&M said, "We are delighted to enhance our partnership with Triumph Group, a world class company. This close collaboration will strengthen our global network of subsidiaries and joint ventures supporting operators worldwide and with such a partner, we are able to offer the best local services to airlines in the Americas."

"Together, Triumph Group and AFI KLM E&M will deliver world class service and value to our customers when they need it the most, while creating momentum for both companies as our industry recovers from the COVID-19 pandemic," said William Kircher, Executive Vice President for Triumph Systems & Support.

About Air France Industries KLM Engineering & Maintenance
Air France Industries KLM Engineering & Maintenance is a major multi-product MRO (Maintenance, Repair, Overhaul) provider. With a workforce of over 14,000, AFI KLM E&M offers comprehensive technical support for airlines, ranging from engineering and line maintenance to engine overhaul, aero structure and fan thrust reverser support, as well as the management, repair and supply of aircraft components, structured around a powerful logistics network. AFI KLM E&M supports almost 2,800 aircraft operated by 200 major international and domestic airlines. www.afiklmem.com – Follow us on Twitter @afiklmem

About Triumph
Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerospace and defense systems, components and structures. The company serves the global aviation industry, including original equipment manufacturers and the full spectrum of military and commercial aircraft operators. More information about Triumph can be found on the company's website at www.triumphgroup.com.

 

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SOURCE Triumph Group

FAQ

What is the joint venture between TGI and Air France KLM about?

The joint venture focuses on nacelle maintenance, repair, and overhaul for next-generation aircraft.

When was the joint venture between Triumph Group and Air France KLM announced?

The joint venture was announced on March 31, 2021.

Where will the nacelle services be provided under the TGI and Air France KLM joint venture?

Services will be provided at Triumph's repair facility in Hot Springs, Arkansas.

What are the anticipated benefits of the TGI and Air France KLM joint venture?

The joint venture aims to deliver enhanced MRO services and support for aircraft operators in the Americas.