Honeywell (HON) Boosts Organic Growth Path On New Contracts
Zacks Investment Research | Apr 17, 2018 09:54PM ET
Honeywell International Inc. (NYSE:HON) inked a fresh three-year contract with Asia Pacific’s biggest business aviation operator — Deer Jet — in a bid to extend the latter’s aircraft protection plan.
Per the deal, Deer Jet will enroll nine aircrafts into Honeywell Mechanical Protection Plan (MPP) and additional 12 aircrafts in Honeywell Avionics Protection Plan (HAPP).
Honeywell’s premium protection and maintenance service program, HAAP, offers cost effective and speedy avionics assistance to general, as well as business aviation operators. The program helps evade unforeseen maintenance costs and keeps fleets flight-ready and optimized. HAPP protects aircrafts of more than 3,000 operators globally, at present.
Under the MPP and HAPP plans, Honeywell has been providing aircraft protection services to Deer Jet, since 2015. These reliable and cost-effective programs have helped Deer Jet save approximately $1 million of fleet maintenance expenses, so far.
On a month-to-date basis, shares of this Zacks Rank #3 (Hold) company rallied 2.9%, outperforming 0.2% growth recorded by the Zacks Investment Research
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