News Releases

Triumph and China Southern Enter Exclusive Agreement for Nacelle Maintenance and Plan for Long-Term JV

February 6, 2018 at 7:00 PM EST

SINGAPORE--(BUSINESS WIRE)--Feb. 6, 2018-- Triumph Group, Inc. (NYSE:TGI) announced today its subsidiary, Triumph Aviation Services Asia, Ltd., has signed a memorandum of understanding (MOU) with China Southern Airlines to cooperate in a comprehensive alliance for nacelle maintenance, potentially including the establishment of a joint venture entity in Shenyang, China. Triumph Aviation Services Asia, is an operating company of Triumph Product Support.

Under the MOU, Triumph Aviation Services Asia will be relied on as supplier of choice to provide repair services for China Southern’s fleet of V2500 and PW4168 nacelles while the joint venture company is being established. The JV will then provide repair and overhaul services for nacelle components and additional aircraft components of China Southern Airlines’ fleet in the long term, as well for as other operators in the China region.

“We are very proud that Triumph Aviation Services Asia was selected by China Southern as an exclusive partner for nacelle repair requirements,” said Michael R. Abram, executive vice president of Triumph Product Support, “and we are excited to have the opportunity to partner with them to establish an aircraft maintenance, repair and overhaul footprint in China to serve the second largest domestic aviation market in the world. Our expanded relationship with China Southern Airlines demonstrates how we work with our customers to offer Total Life Cycle (TLC) Solutions when and where they need it.”

“Triumph Aviation Services Asia always supplied the best services in our years of cooperation,” said Li Zhi Gang, senior vice president for China Southern Airlines’ Maintenance & Engineering Division, “considering the expectations for future use of composite material, we firmly believe they are the best partner in composite repair sector.”

The establishment of the new alliance builds on years of collaboration between the two companies. Since 2013, Triumph has supported the development of China Southern’s composites repair shop at the airline’s Shenyang Maintenance Base.

In a closed event on February 7, at the Singapore Airshow, China Southern Airline and Triumph Aviation Services Asia will conduct an honorary signing to recognize the new contract and MOU.

China Southern Airlines is the largest operator in Asia Pacific with a current fleet of more than 700 aircraft, and the world’s fourth largest operator. They are headquartered in Baiyun District, Guangzhou, Guangdong Province, China.

Triumph Aviation Services Asia, Ltd., located in Bangkok, Thailand, repairs and overhauls a wide range of complex aircraft structures and components such as engine nacelles, fan reversers, flight control surfaces, and various aircraft accessories.

Triumph Group, Inc., headquartered in Berwyn, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aircraft structures, components, accessories, and systems. The Company serves a broad spectrum of the global aviation industry, including original equipment manufacturers of commercial, regional, business and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers.

More information about Triumph Group can be found on the company’s website at http://www.triumphgroup.com.

Statements in this release which are not historical facts are forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995, including statements about future operations, facilities and joint ventures. All forward-looking statements involve risks and uncertainties which could affect the company’s actual results and could cause its actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the company. Further information regarding the important factors that could cause actual results to differ from projected results can be found in Triumph Group’s reports filed with the SEC, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2017.

Source: Triumph Group, Inc.

Triumph Group, Inc.
Michele Long
Senior Director – Communications
Phone (610) 251-1000
mmlong@triumphgroup.com
or
Sheila G. Spagnolo
Vice President – Tax & Investor Relations
Phone (610) 251-1000
sspagnolo@triumphgroup.com