-Agreement covers majority of components for the Parker-designed A350
fuel, hydraulic, and fuel tank inerting systems

Parker Aerospace and Lufthansa Technik announced an agreement for
long-term collaboration for Airbus A350 component maintenance,
repair, and overhaul (MRO) services. The agreement, being announced
at MRO Europe 2017, covers the majority of repairable components for
the Parker-designed A350 fuel, hydraulic, and fuel tank inerting
systems.

The agreement between Lufthansa Technik and Parker Aerospace will
encompass the joint development of repair procedures to increase
component and systems reliability and reduce related maintenance
costs for airline customers worldwide. Airbus and operators benefit
from shared best practices and collaborative approaches to continuous
improvement in repair performance. The collaboration will help
optimize services by focusing on repair development, instead of
replacing components, keeping them in flight longer to reduce costs.

Parker is the original equipment manufacturer (OEM) and a global
leader in developing and integrating components across many aerospace
technologies. Lufthansa Technik is a world leader in MRO with
extensive knowledge of airline operations. By combining efforts with
a new way of doing business, customers benefit from OEM data combined
with powerful MRO insight and repair capabilities.

"Parker´s objective has always been to develop a strong network and
provide local solutions for MRO and part availability," said Parker
Aerospace Customer Support Operations (CSO) Vice President of
Commercial Aftermarket Vic Jorcyk. "By collaborating we will achieve
the best cost-savings for customers, optimize reliability, and
develop better repairs by combining our competencies."

Lufthansa Technik Vice President Aircraft Component Services Harald
Gloy stated, "This agreement enhances Lufthansa Technik´s position as
a key MRO provider on A350 components. I am very pleased that we
could further extend the long-standing successful relationship
between Parker and Lufthansa Technik."