Spirit Evergreen Aftermarket Solutions Joint Venture ready to Serve Asia-Pacific Aftermarket Customers

Spirit AeroSystems [NYSE: SPR] announced today at MRO Asia-Pacific in Singapore that Spirit Evergreen Aftermarket Solutions (SEAS), a joint venture with Evergreen Aviation Technologies Corp. (EGAT), will open for business on Oct. 3 in Taiwan.

Spirit announced the joint venture agreement with EGAT in April 2021, strengthening its global maintenance, repair and overhaul (MRO) capabilities. The agreement will bring comprehensive nacelles and flight control surfaces solutions for 777 (GE90, Trent800 & PW4000), 747-8 (GEnx-2B), 737 (CFM56-7B & LEAP 1B), 747/767 (CF6-80C2), 787 (GEnx-1B), A330 (Trent700), and A320 (V2500 & CFM56-5B).

SEAS increases Spirit’s services to meet growing fleet demands in the Asia-Pacific region.

“We are very happy to have successfully built our commercial relationship into a long lasting one as a joint-venture partner,” said Kailash Krishnaswamy, Senior Vice President of Spirit Aftermarket Services. “During the last several years, EGAT has been a trusted partner while we jointly served the Asia-Pacific market. The significant pickup in flight activity in this region provides robust tailwind for the success of our joint venture. Spirit will be bringing its efficient and low-cost MRO repair engineering, and material management capabilities to the joint venture.”

In September 2020, Spirit EGAT entered into an agreement for Spirit to provide maintenance services in Taiwan on 777 GE90/Trent800 nacelles, 737 CFM56-7B thrust reversers, and flight-control surfaces along with broader nacelle MRO services on the CF6 powered aircraft and A320.

“For EGAT in SEAS, it is a partnership of shared values towards delivering excellence in MRO services, underpinned by mutually strong business ethics,” said Kin Chong, Executive Vice President of EGAT’s Business Coordination Division. “SEAS is an extension of the exceptional heavy airframe maintenance and modification business value that EGAT provides to a host of notable airline partners globally, ranging from Dreamlifter conversions to BCF conversions, and from 787 structural mods to 747-8 stringer repairs.”

Krishnaswamy said Spirit’s Aftermarket business continues to grow since the 2021 acquisition of select Bombardier maintenance, repair and overhaul operations in Belfast, Northern Ireland, and Casablanca, Morocco; the acquisition of assets from Applied Aerodynamics in Dallas, Texas, USA, and the SEAS joint venture. Spirit’s Aftermarket business revenues grew from $186 million in 2019 to $239.9 million in 2021. Spirit is targeting to grow the Aftermarket business to $500 million in revenue by 2025.