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Lufthansa Technik AG
WestJet has awarded its CFM56-7B engine maintenance program to Lufthansa Technik. This agreement provides WestJet with access to a wide range of services including overhaul capabilities and on-site maintenance support. Under a separate agreement, Lufthansa Technik has collaborated with FTAI Aviation to provide access to CFM56 modules and material to support this maintenance program. An important principle of this maintenance approach is the replacement of modules, which optimizes engine life and delivers a more environmentally sustainable program.
"WestJet is excited to move forward in this new agreement with Lufthansa Technik in a dynamic new program to support our fleet. We are looking forward to working with this expanded relationship with Lufthansa Technik to provide excellent support and engine life cycle management. Further, working with a support organization that understands the airline perspective and needs, serves to enhance the value of support brought to the table. This is the result of a very competitive process started in January 2021 that resulted in Lufthansa Technik's team being awarded a contract that provides leading value and support through a team approach offering creative solutions," said Gandeephan Ganeshalingam, Vice President of Technical Operations, WestJet.
"Lufthansa Technik is excited to be partnering with WestJet on one of their largest maintenance programs. We look forward to continuing our strong relationship with them. Similarly, in subcontracting a third party supplier like FTAI, we are confident that we will be able to provide a high quality and reliable product at a competitive cost. One major pillar in our collaboration is that we will be able to, where appropriate, further optimize an engine's life. This results in high engine reliability and stable operations for WestJet." said Georgios Ouzounidis, VP Corporate Sales Americas at Lufthansa Technik.
"We are proud to support our partner Lufthansa Technik on this unique CFM56 maintenance program for WestJet," said Joe Adams, FTAI's Chairman and Chief Executive Officer, "As the CFM56 engine matures, we believe this program serves as a new blueprint for providing the most creative and cost effective aftermarket maintenance solution to the largest engine fleet in the world."
Over 25 years of serving Canadians, WestJet has cut airfares in half and increased the flying population in Canada to more than 50 per cent. WestJet launched in 1996 with three aircraft, 250 employees and five destinations, growing over the years to more than 180 aircraft, 14,000 employees and more than 100 destinations in 23 countries, pre-pandemic. Since the start of the pandemic, the WestJet Group of Companies has built a layered framework of safety measures to ensure Canadians can continue to travel safely and responsibly through the airline's Safety Above All hygiene program. During this time, WestJet has maintained its status as one of the top-10 on-time airlines in North America as named by Cirium.
About Fortress Transportation and Infrastructure Investors LLC
Fortress Transportation and Infrastructure Investors LLC owns and acquires high quality infrastructure and equipment that is essential for the transportation of goods and people globally. FTAI targets assets that, on a combined basis, generate strong and stable cash flows with the potential for earnings growth and asset appreciation. FTAI is externally managed by an affiliate of Fortress Investment Group LLC, a leading, diversified global investment firm.