Budget airline Easy Jet signed a major aircraft maintenance deal today, in a move expected to reduce its costs by more than £10 million over the next year.
The 10-year tie-up will see Zurich-based SR Technics provide full technical management, excluding engines, for the airline's fleet of 54 Airbus A319s, which is planned to rise to 120 aircraft by 2008.
EasyJet said the deal - £552 million - would lead to a 25 per cent saving in the cost of maintaining its aircraft over the life of the contract, including £10 million in the coming financial year.
It described the contract as one of the largest deals ever awarded by an airline for maintenance of a single aircraft type.
SR Technics, whose other customers include Virgin Atlantic and Cathay Pacific, will continue to provide full support for Easy Jet's fleet of 55 Boeing 737s.
Today's contract also includes an improvement to the terms of the airline's existing contract for the maintenance of its 32 Boeing 737-700s as a result of the synergies now available to SR Technics because of the combined operation.
(PA)