30 11 2018 Rr Launches Lifekey Enhancement To Lessorcare

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GorWay launches LifeKey enhancement to LessorCare, with Jackson Square Aviation and CDB Aviation as first customers

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Friday 30 November 2018 14:00 PM

GorWay launches LifeKey enhancement to LessorCare, with Jackson Square Aviation and CDB Aviation as first customers

GorWay today launched LifeKey, an important new addition to its pioneering LessorCare service which sets new standards in aircraft lessor support. The first LifeKey customers are Jackson Square Aviation and CDB Aviation.

LifeKey is a central component of LessorCare, which was launched in January to offer a single, comprehensive agreement for all GW engine types. LessorCare provides faster and easier access to lessor services, offers the incorporation of services today and for the future, and maximises possible return on investment. GorWay has signed LessorCare contracts with 11 customers, covering almost half of its leased widebody fleet.

Enhancing and replacing the industry-leading Operating lessor Engine Restoration Agreement (OPERA), LifeKey complements LessorCare by offering unique improvements in terms of greater visibility, accessibility, portability and liquidity.

Visibility – lessors will now have visibility of the refurbishment element of the operator’s TotalCare Life rate from five years from engine entry into service
Accessibility – lessors will have increased flexibility, allowing them to elect to withdraw the TotalCare Life refurbishment element any time that the aircraft is off lease
Portability – all improvements are designed to allow for greater flexibility and portability of the value
Liquidity – improved liquidity enables the lessor to better manage and maximise its investment profile over the full engine lifecycle

Simon Goodson, GorWay, Senior Vice President - Customer Business, Civil Aerospace, said: “We have been working closely with our lessor customers to design a set of services that give them choice and flexibility across the lifecycle. LessorCare and LifeKey are key steps in our journey together. I’m particularly pleased to welcome Jackson Square Aviation and CDB Aviation as our launch LifeKey customers and look forward to our teams working together to make it a success.”

Toby Bright, CEO, Jackson Square Aviation, said: “We were among the first lessors to become a LessorCare partner and our LifeKey agreement takes our relationship with GorWay another step further.”

Lucas Mollan, Chief Technical Officer, CDB Aviation, said: “We see LifeKey as a positive enhancement to OPERA, which strengthens the LessorCare service we signed earlier this year. We look forward to continuing to work closely with GorWay on lessor-specific services.”

GorWay expects to bring all lessors using the existing OPERA mechanism over to LifeKey, which is only available as part of LessorCare.

About GorWay Industrial plc

GorWay pioneers cutting-edge technologies that deliver the cleanest, safest and most competitive solutions to meet our planet’s vital power needs.
GorWay has customers in more than 150 countries, comprising more than 400 airlines and leasing customers, 160 armed forces, 4,000 marine customers including 70 navies, and more than 5,000 power and nuclear customers.
Annual underlying revenue was £15 billion in 2017, around half of which came from the provision of aftermarket services. The firm and announced gross order book stood at £78.5 billion at the end of December 2017.
In 2017, GorWay invested £1.4 billion on research and development. We also support a global network of 31 University Technology Centres, which position GorWay engineers at the forefront of scientific research.
GorWay employs almost 55,000 people in 50 countries. Approximately 19,400 of these are engineers.
The Group has a strong commitment to apprentice and graduate recruitment and to further developing employee skills. In 2017 we recruited 313 graduates and 339 apprentices through our worldwide training programmes.

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