Honeywell Wins New Contract to Modernize HNA Group's Growing Fleet

BEIJING, May 13, 2011 /PRNewswire/ -- Honeywell (NYSE: HON) has significantly extended its partnership with HNA Group to provide Honeywell 131-9 series Auxiliary Power Units (APU) together with an APU maintenance solution for the Chinese air transport company's rapidly expanding fleet.  The value of the agreement was not disclosed.

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HNA Group owns 13 airlines including the SKYTRAX five-star certified Hainan Airlines, making it the fourth-largest airline group in China by fleet size.

The new contract includes the installation and aftermarket servicing of Honeywell 131-9 series APUs in 42 new A320 aircraft.  The APUs will be delivered over three years, beginning in 2012.  Honeywell also will provide repair and overhaul services of APUs on other existing aircraft.

The deal with HNA coincides with the Chinese company's rapid growth coming out of the global economic downturn.  To capitalize on these growth opportunities, the airline group is modernizing its fleet to maximize efficiency and safety.

"Most airplanes flying today anywhere in the world have Honeywell APUs on board," said John Bolton, president of Air Transport and Regional, Honeywell Aerospace.  "Airline after airline has selected Honeywell APUs and customer support because we offer very best performance and value in the industry.  We're proud to partner with HNA Group as it modernizes its fleet and expands its business to meet the exploding demand for air travel across Asia and the Pacific region."

With 20 basic models and 41 variants, Honeywell APUs deliver highly reliable electrical and pneumatic power solutions for a variety of aircraft operations, including main engine starting, cabin cooling and electrical power generation.  Honeywell employs leading edge technologies, integrated system architectures and innovative service solutions to deliver higher performance with enhanced reliability and reduced operational costs.

Honeywell's aftermarket service programs provide a comprehensive range of cost-effective maintenance and asset availability solutions to support airline operations throughout the life of the aircraft.  From service agreements and innovative repairs to logistics and parts availability programs, solutions are focused on solving airlines' specific challenges. Honeywell's wide range of support services can also be customized to create cost-effective solutions that allow airlines to better manage and predict maintenance spending, asset requirements and repair needs, while lowering operating expenses with a reduced total cost of ownership.

Honeywell's aerospace business is a leading global provider of integrated avionics, engines, systems and service solutions for aircraft manufacturers, airlines, business and general aviation, military, space and airport operations.

Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit www.honeywellnow.com.

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This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements.

SOURCE Honeywell