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Collins Aerospace Signs More Than $1.5 Bln Worth Maintenance Deals

Collins Aerospace Systems, a unit of United Technologies Corp. (UTX), announced Tuesday that it has secured more than $1.5 billion worth maintenance agreements from various customers around the world.

The deals include first MRO agreements with Africa's largest airline, Ethiopian Airlines, valued at approximately $500 million over a 25 year period. Collins Aerospace's Power & Controls business enable the airline to service components such as heat exchangers, air management systems and fuel metering units for its fleet of 60 Q400 aircraft.

Further, Collins Aerospace's Aerostructures business signed new long-term FlightSense Nacelle agreements on 787 and A320 aircraft platforms. This amounts to over $900 million including options with multiple IATA II customers spanning over a 25 year period.

The company has also signed FlightSense agreements with two Asia-Pacific airlines, including Japan Airlines.

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