Pratt & Whitney and Turkish Airlines to Build a CFM56 and V2500 Engine Overhaul Center at Istanbul

Released on Monday, December 4, 2006
MoU - Memorandum of Understanding
MRO - Maintenance, Repair and Overhaul
OEM - Original Equipment Manufacturer
Pratt & Whitney, a United Technologies Corp. company (NYSE: UTX), and Turkish Airlines Technic Inc., a Turkish Airlines company (ISE:THYAO), today signed a Memorandum of Understanding (MOU) to build a major aircraft engine overhaul at Sabiha Gök´┐Żen International Airport, Istanbul. The new facility will be Pratt & Whitney's eighth commercial engine overhaul center. Financial terms of the agreement were not disclosed.

"We consider the Memorandum of Understanding to be the first step towards a potential success story by joining the expertise of Turkish Technic, a new, independent Maintenance, Repair, Overhaul (MRO) company that has emerged from an experienced airline MRO center, and Pratt & Whitney, an engine Original Equipment Manufacturer (OEM) and an independent engine MRO," said Dr. Ismail Demir, general manager, Turkish Technic Inc. "This initiative is in line with our strategy of becoming a preferred, well-known, customer-focused maintenance organization with exceptional quality and service within its region."

Through the joint venture, the companies plan to service customers operating both CFM56® and V2500 engines. Once fully operational, the overhaul center is expected to overhaul up to 200 engines per year. Groundbreaking for the new facility is expected in 2007.

"Pratt & Whitney is delighted to take the first step toward building a leading, world-class facility in Turkey with our valued partner, Turkish Technic," said Jim Keenan, senior vice president and general manager, Pratt & Whitney Global Service Partners. "Their operations and maintenance experience combined with Pratt & Whitney's engine MRO expertise will create an excellent maintenance choice for our customers.

"This initiative supports Pratt & Whitney Global Service Partners' strategy to partner with outstanding MRO providers in delivering unmatched service capabilities to our worldwide customers," Keenan said.

Turkish Airlines Technic Inc., a subsidary of Turkish Airlines, is the leading maintenance center in its region, providing MRO services for Boeing and Airbus airframe, engine, auxiliary power units, landing gear and components. Turkish Airlines Technic Inc. serves more than 100 airlines in Europe, the Middle East, Northern Africa, Turkey and the Commonwealth of Independent States (CIS), with its maintenance base in Istanbul and highly qualified workforce of more than 3,000 personnel.

Global Service Partners, Pratt & Whitney's engine services business, is an industry leader in customer solutions and service excellence. It has more than 500 aviation customers served by a worldwide network of 24 overhaul and repair facilities capable of servicing all Pratt & Whitney engines, as well as the V2500 and CFM56® engines. In addition to overhaul and repair services, customers count on Pratt & Whitney Global Service Partners to provide on-wing repair services, advanced engine monitoring and diagnostics, competitive engine lease programs and custom engine service programs.

Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines, space propulsion systems and industrial gas turbines. United Technologies, based in Hartford, Conn., is a diversified company providing high technology products and services to the global aerospace and commercial building industries.

Source: Pratt & Whitney and Turkish Airlines Technic Partner to Build New V2500 and CFM56 Engine Overhaul Center

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