Honeywell To Offer Maintenance Services For Emirates Fleet
Zacks Investment Research | Nov 12, 2017 08:26PM ET
Diversified technology company, Honeywell International Inc. (NYSE:HON) recently inked a 15-year agreement with Dubai-based airline firm Emirates to offer maintenance and aftermarket components for its fleet. The agreement with the world’s largest operator of Airbus A380 and Boeing (NYSE:BA) 777 aircraft aims to cut airline operating costs by reducing grounded aircraft time through round-the-clock support services.
Over the years, Honeywell has developed a rich expertise in the areas of aircraft component exchange and repairs. The company intends to leverage this strength to provide comprehensive repair and maintenance services to lower cost of ownership and increase the lifespan of aircraft components. This, in turn, will effectively reduce departure delays and cancellations and boost Emirates’ commitment to on-time arrivals.
The airline industry is fiercely competitive and each player in the market strives to incorporate all possible options to reduce operating costs. In tune with this strategy, Royal Jordanian Airlines selected Honeywell's Connected Aircraft GoDirect Fuel Efficiency software to minimize fuels usage on its fleet of 24 aircraft. The software utilizes data analysis and various monitoring tools to identify various fuel-saving opportunities to make operations more cost-effective and conducive to green environment.
Fuel consumption usually accounts for 20-40% of an airline’s operating costs and even a single-digit percentage improvement can reportedly save millions for an airline company. With this initiative, Royal Jordanian joins an expanding list of global customers that are patrons to the software, including India's Jet Airways, Japan Airlines, Finnair and Turkish Airlines.
On the back of such innovative portfolio of products and services, the company has outperformed the Original post
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