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Meggitt to supply brakes to Wizz Air in $50m deal
Components and subsystems producer Meggitt has finalised the terms of a long-term agreement with Wizz Air, it announced on Thursday, for Meggitt to supply wheels and brakes, worth more than $50m over the lifetime of the "all-encompassing" material maintenance agreement which would start from 2021.
The FTSE 250 firm said it would provide its latest 'NuCarb' carbon brake to the central and eastern Europe-focussed low-cost carrier, with a new wheel specifically designed to improve the performance characteristics of the Airbus A321neo aircraft.
Wizz Air was currently committed to 110 A321neo aircraft, with options for a further 90, and would begin taking delivery of the aircraft in 2019.
"Meggitt is proud to be pairing our NuCarb technology with the A321neo aircraft for our launch customer, Wizz Air," said Meggitt chief executive Tony Wood.
"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."