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HONEYWELL AND FLEXJET FINALISE SETTLEMENT AND EXTEND MAINTENANCE AGREEMENT TO 2035

Honeywell and Flexjet have finalised a comprehensive settlement resolving pending litigation and extended their aircraft engine maintenance agreement through 2035, concluding related claims involving StandardAero and Duncan Aviation.

The agreement resolves all outstanding claims between Honeywell and Flexjet, as well as related litigation involving StandardAero and Duncan Aviation. As part of the settlement, Honeywell and Flexjet have agreed to extend their existing engine maintenance arrangement, reaffirming the commercial relationship between the two companies.

 

Both parties stated that the agreement enables them to move forward collaboratively following the conclusion of the legal proceedings. No additional commercial or financial terms were disclosed.

 

Honeywell operates across a broad range of industrial and technology sectors, including aerospace, building automation, industrial automation and process technologies. The company’s portfolio is supported by its Honeywell Accelerator operating system and Honeywell Forge platform, which are used to deliver data-driven and digital solutions across its businesses.

 

The settlement and contract extension provide long-term continuity for engine maintenance support under the renewed agreement, while formally concluding the associated litigation.

SOURCE: PR NEWSWIRE IMAGE: FLEXJET

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