US-based aviation aftermarket inventory solutions provider AvAir and Lufthansa Technik Component Solutions (LTCS) have reached a long-term aftermarket sales agreement.
AvAir has taken over the complete rotable spares pool inventory valued at $100m. It includes 9,000 line items.
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Lufthansa Technik will deliver the first components from its facilities in Germany to AvAir facilities in Ireland and the US. The entire transfer will be settled within the next three months.
AvAir CEO Mike Bianco said: “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.”
The components under the agreement will come from the Lufthansa Airline Group and other Lufthansa Technik customer fleets.
The materials will also hold FAA/EASA dual release certification from Lufthansa Technik and a 12-month warranty.
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By GlobalDataThe deal complements AvAir commercial inventory, which includes A320, A320-NE0, A330, A340, A350, A380, MD-11, B737-NG, B737-MAX, B747, B757, B767, B777, and B787.
Lufthansa Technik vice-president Georg Fanta said: “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.
“This has enabled us to release the material into this sales programme 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 utilise AvAir’s trade expertise and worldwide customer network for similar opportunities in the future.”
