SR Technics, a unit of Abu Dhabi-based Mubadala Development Company, said it has signed a new five-year integrated component solutions contract with Spanish airline Air Europa.

Zurich-based SR Technics is a leading independent provider of technical services for civil aviation sector.

As per the deal, Air Europa will also have access to SR Technics' components pool and component management services, covering a complete package of components including auxiliary power unit and engine line-replaceable units, the Mubadala company said in a statement.

The new contract covers all aircraft - from Airbus A330 to Boeing 767, 737-800 aircraft types - and includes component exchange, maintenance and repair, and logistics services.

SR Technics will manage component inventory pools in Zurich, Switzerland.

"We have enjoyed a long and successful relationship with Air Europa, celebrating 20 years of working in partnership this August," remarked James Stewart, CEO at SR Technics.

"Over these years SR Technics has extended its support across the airline’s entire Airbus and Boeing fleets for all component maintenance and repair requirements," he added.

“As testament to our working relationship, in January 1996, we collectively set up a component repair facility in Palma, as a joint venture, to fully support the airline’s operations. Since its establishment we have serviced 152 aircraft from 10 airlines, out of this facility,” explained Stewart.

Commenting on the deal extension, Alberto Lines, Maintenance & Engineering director at Air Europa, said, "By extending our contract with SR Technics until 2017, we will achieve a partnership of at least 26 years."

"We are a pioneer in the component support solution arena, being one of the first European airlines to sign a component “power by the hour” agreement," Lines noted.

"Our fleet has experienced significant changes. New aircraft and new aircraft models have been incorporated while older ones were phased out."

"We have built new solutions together with SR Technics, either considering new models or newer specifications as a normal evolution of existing aircraft. We have proved that flexibility is one of the best values of SR Technics," Lines added.

With its head office at Zurich Airport, SR Technics provides its services to about 500 airline customers through an extensive network of international operations and sales offices in Europe, America, Asia and the Middle East.-TradeArabia News Service