ORLANDO, FLORIDA--(Marketwire - Oct. 30, 2012) - NBAA - Pratt & Whitney Canada (P&WC) and the National Aircraft Resale Association (NARA) have reached an agreement that gives its dealer members a specially adapted option to enrol their engines in P&WC's Eagle Service(TM) Plan (ESP(R) Program). The announcement was made today by Raffaele Virgili, vice-president, customer service, during the National Business Aviation Association's 65th annual meeting and convention in Orlando, Florida. P&WC is a division of United Technologies Corp. (NYSE:UTX).
NARA is a professional trade association made up of firms that specialize in aircraft sales and brokerage. The Association was organized for the specific purpose of promoting a consistently high set of ethical standards in buying and selling business aircraft and to communicate those standards to the marketplace.
"The agreement we have reached with NARA provides dealers with an ESP(R) Program enrolment option that is aligned with their business needs," said Virgili, "This gives NARA members the peace of mind that comes with knowing their engines are covered by P&WC, and enables them to realize the higher resale value associated with selling an aircraft with engines covered by an OEM service plan. When the aircraft is sold, the buyer will be able to assume all the benefits of the ESP(R) Program."
Greg Miller, ESP(R) Program product manager of global sales added, "Dealers of used aircraft often approach us wanting to enrol their engines in P&WC's ESP(R) Program because this is what buyers are looking for, while the dealers themselves are seeking cost protection when the aircraft are in inventory for resale."
The ESP(R) Program offers P&WC engine operators a complete range of maintenance coverage depending on the level selected: Gold, Silver, Gold Lite or Silver Lite. Basic coverage includes parts and shop labour for scheduled engine overall, refurbishment and hot section inspection, basic unscheduled engine and line replaceable unit (LRU), accessory maintenance, and required product support improvements at shop visits. Other benefits include rental engine support for covered events, engine condition trend monitoring, and a labour allowance for trouble shooting.
"During the sales process when a used aircraft remains in their inventory, many dealers will fly the aircraft to different locations to showcase them to potential buyers," said NARA chairman Brad Harris, president and CEO of Dallas Jet International, LP.
"The agreement that we have reached with P&WC allows our dealer members to purchase ESP(R) Program coverage for the aircraft's engines, in a structure well aligned to their business needs, until the sales process is complete. ESP(R) Program coverage can be easily transferred to the new owner. History has shown that aircraft with engines enrolled into the ESP(R) Program sell faster than aircraft that do not have the program."
"Our ESP(R) Program coverage provides these dealers with peace of mind during the resale process," concluded Miller.
Enrolment in P&WC's ESP(R) Program continues to grow, and has now reached 4000 engines, up by 1000 since 2010.
Come and see us at NBAA, booth no. 5633: Interested operators are invited to drop by P&WC's booth to speak with a customer service representative.
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