Meggitt PLC Agreement with Wizz Air on A321neo wheels & brakes (7445P)

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RNS Number : 7445P

Meggitt PLC

31 May 2018

31 May 2018

Meggitt PLC

("Meggitt")

Meggitt secures agreement with Wizz Air as the launch customer for its A321neo wheels and brakes

Meggitt PLC, a leading international company specialising in high performance components and sub-systems for the aerospace, defence and energy markets, and Wizz Air, the largest low cost carrier in Central and Eastern Europe today announce that they have finalised the terms of a long-term agreement for Meggitt to supply wheels and brakes, worth more than $50 million over the lifetime of this all-encompassing, material maintenance agreement which will start from 2021.

Meggitt will provide its latest NuCarb(R) carbon brake to Wizz Air, with a new wheel specifically designed to improve the performance characteristics of the A321neo aircraft. Wizz Air is currently committed to 110 A321neo aircraft with options for a further 90 and will begin taking delivery of these aircraft in 2019.

Tony Wood, Chief Executive, said: "Meggitt is proud to be pairing our NuCarb(R) technology with the A321neo aircraft for our launch customer, Wizz Air. This agreement builds on our existing partnership with Airbus to bring state of the art technology to the A321neo aircraft programme. We are grateful for the trust Wizz Air has placed in Meggitt following their rigorous selection process which further underlines the performance and operating cost benefits of our innovative aircraft braking technology".

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Enquiries

 
 Meggitt PLC                            [phone] 
 Jessica Barrett, Investor Relations 
  Manager 
 
 FTI Consulting                         [phone] 
 Deborah Scott, Senior Managing 
  Director 
 Nick Hasell, Managing Director 
 

Cautionary statement

This trading update, including information included or incorporated by reference in this trading update, may contain forward-looking statements concerning Meggitt PLC or its group. Generally, the words "will", "may", "should", "continue", "believes", "expects", "intends", "anticipates" or similar expressions identify forward-looking statements. Such forward-looking statements involve risks, uncertainties and other important factors which could cause the actual results, performance or achievements of the Meggitt group or the market and economies in which the Meggitt group operates to be materially different from those expressed or implied by such forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond the ability of Meggitt PLC or its directors to control or estimate precisely, such as future market conditions and the behaviours of other market participants, and therefore undue reliance should not be placed on such statements, which speak only as at the date of this trading update. Neither Meggitt PLC, nor any of its group undertakings, nor the directors of any of them, assumes any obligations to, and do not intend to, update these forward-looking statements, except as required pursuant to applicable law.

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May 31, 2018 02:00 ET (06:00 GMT)