Honeywell Signs Extension With Southwest Airlines to Maintain Fleet for 10 Years

PHOENIX, July 22 /PRNewswire-FirstCall/ -- Honeywell (NYSE: HON) announced today that it has signed a contract extension with Southwest Airlines to provide aftermarket maintenance services for Honeywell avionics and mechanical products on Southwest's entire fleet of Boeing 737s for the next 10 years.

Under the extended agreement, Honeywell will provide aftermarket repair and overhaul services for Honeywell equipment on Southwest's entire fleet -- up to 520 aircraft plus future aircraft deliveries -- including Honeywell's Auxiliary Power Units (APU), hydro mechanical units (HMU), avionics, lighting, mechanical components and wheels and brakes.

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"This agreement today further demonstrates Honeywell's continued commitment to helping one of the world's most successful airlines," said Michael Madsen, Honeywell Aerospace Vice President, Airlines. "Southwest has seen over the past several years that our maintenance program for avionics and mechanical equipment saves the airline money and most importantly, time, so they can keep flying. That has an added significance in this challenging business environment of rising fuel costs. We are extremely proud to extend our longstanding relationship with Southwest Airlines"

"Our long-standing relationship with Honeywell has yielded quality, reliability, and value to Southwest Airlines," said Jim Sokol, Southwest Airlines' Vice President of Maintenance and Engineering. "Honeywell shares a passion for Customer Service and our commitment to excellence, and this agreement will help us deliver on our mission to be the safest and most productive airline in the world."

Honeywell's aftermarket service programs provide a comprehensive range of cost-effective maintenance and asset availability solutions to support airline operations throughout the life span 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 ranging support services can also be customized to create cost-effective packaged 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.

Southwest Airlines (NYSE: LUV), the nation's largest carrier in terms of domestic passengers enplaned, currently serves 64 cities in 32 states. Based in Dallas, Southwest currently operates more than 3,400 flights a day and has more than 34,000 Employees systemwide.

Honeywell International is a $37 billion 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 additional information, please visit http://www.honeywell.com.

Based in Phoenix, 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.

This release contains forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934, including statements about future business operations, financial performance and market conditions. Such forward-looking statements involve risks and uncertainties inherent in business forecasts as further described in our filings under the Securities Exchange Act.