GA Telesis And HAECO ITM Sign Post Airframe Teardown Consignment Sale Agreement

HONG KONG and FORT LAUDERDALE, Fla., Dec. 9, 2019 /PRNewswire/ -- HAECO ITM Ltd. ("HAECO ITM"), a member of the HAECO Group, has acquired a Cathay Dragon Airbus A330-300 (MSN083) for disassembly and has partnered with GA Telesis' Component Solutions Group ("GA Telesis CSG") for the distribution and resale of the parts removed from the aircraft. Once the components are recertified, they will support HAECO ITM's inventory pool as well as GA Telesis' customer base worldwide.

A joint venture between HAECO and Cathay Pacific Airways, HAECO ITM offers services that include the provision and pool management of aircraft components. HAECO ITM currently manages a fleet of over 290 aircraft from an inventory pool located in Hong Kong.

GA Telesis CSG is a global leader in component supply chain solutions. With 35 sales offices and distribution centers on six continents, together with the world's foremost expertise in aircraft and engine disassembly, GA Telesis CSG is uniquely positioned to provide real-time support solutions to its airline customers worldwide.

Graham Air, HAECO ITM Head of Asset Management and Trading, said: "We are delighted to have secured this airframe for our present customer pool. HAECO ITM has had ample experience with this specific aircraft type, with multiple operators supported by our inventory pool. After disassembly and inventory harvest, the components will be recertified and either returned to our inventory pool or consigned to our partner, GA Telesis CSG, to support their global customers."

Lynda Cheng, GA Telesis CSG Vice President of Asia Pacific Sales, said: "We are looking forward to partnering with HAECO ITM on their first A330-300 disassembly and the redistribution of the harvested components. With over 350 aircraft and 700 engine disassemblies under our belt and over $550 million in net proceeds returned to our consignors, GA Telesis remains the world leader in consignment management."

About GA Telesis 
GA Telesis is a global leader providing integrated solutions to the aviation and aerospace industries.  Built on the premise of "Customer Success" being the goal, GA Telesis serves over 3,000 customers including airlines, OEMs, MROs, and suppliers worldwide with 31 leasing, sales, distribution, and MRO operations in 19 countries. At GA Telesis, the company's core business is integrated aviation solutions and their mission is customer success.

About Hong Kong Aircraft Engineering Company Limited ("HAECO Group")
The HAECO Group is one of the world's leading aircraft engineering and maintenance service providers. The Group provides a comprehensive range of services encompassing Airframe Services, Line Services, Cabin Solutions, Private Jet Solutions, Fleet Technical Management, Inventory Technical Management, Component Overhaul, Aerostructure Repairs, Landing Gear Services, Engine Services, Global Engine Support, Parts Manufacturing and Technical Training. The HAECO Group consists of 16 operating companies, employing around 17,000 staff in Hong Kong, Mainland China and the United States. HAECO Group's website: www.haeco.com

About HAECO ITM Limited ("HAECO ITM")
A joint venture formed in Hong Kong between HAECO and Cathay Pacific Airways in 2012, HAECO ITM provides services ranging from flexible inventory pooling options, Power-By-The-Hour support services and repair management to ad-hoc loans, exchanges and worldwide AOG support. With extensive component engineering and airline operating experience and strong in-house repair capabilities, HAECO ITM offers customised, innovative and cost-effective component management solutions with guaranteed service level and high quality component maintenance at competitive cost, ensuring customer fleet performance and technical dispatch reliability whilst providing cost visibility.

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SOURCE GA Telesis, LLC