Summary
FTAI Aviation Ltd. (FTAI) announced a significant strategic partnership with Lockheed Martin Commercial Engine Solutions (LMCES) to establish "The Module FactoryTM". This dedicated facility will focus on the modular repair and refurbishment of CFM56-7B and CFM56-5B engines, key components for a large segment of the commercial aviation market. The collaboration, initially set for seven years with an extension option, will be housed in LMCES' substantial 500,000 square foot facility in Montreal, Canada, and is designed to handle up to 300 shop visits annually.
Key Highlights
- 1Strategic partnership established with Lockheed Martin Commercial Engine Solutions (LMCES).
- 2Creation of "The Module FactoryTM" dedicated to modular repair of CFM56-7B and CFM56-5B engines.
- 3Facility located in Montreal, Canada, with a significant capacity of 300 shop visits per year.
- 4Initial collaboration term of seven years, with an option to extend, indicating long-term commitment.
- 5Addresses a critical need for efficient and specialized engine maintenance in the commercial aviation sector.
- 6Leverages LMCES' existing infrastructure and FTAI's expertise in aviation services.
Frequently Asked Questions
The Module FactoryTM is established to provide specialized modular repair and refurbishment services for CFM56-7B and CFM56-5B engines, which are widely used in commercial aircraft.
The venture is a joint effort between FTAI Aviation Ltd. (FTAI) and Lockheed Martin Commercial Engine Solutions (LMCES).
The facility will be based at LMCES' existing 500,000 square foot site in Montreal, Canada, with a capacity for up to 300 shop visits per year.
The initial term of the collaboration is seven years, with an option for extension, suggesting a long-term strategic initiative.