Rolls-Royce today launched LifeKey, an important new addition to its pioneering LessorCare service which sets new standards in aircraft lessor support. The first LifeKey customers are Jackson Square Aviation and CDB Aviation.
LifeKey is a central component of LessorCare, which was launched in January to offer a single, comprehensive agreement for all Trent engine types. LessorCare provides faster and easier access to lessor services, offers the incorporation of services today and for the future, and maximises possible return on investment. Rolls-Royce has signed LessorCare contracts with 11 customers, covering almost half of its leased widebody fleet.
Enhancing and replacing the industry-leading Operating lessor Engine Restoration Agreement (OPERA), LifeKey complements LessorCare by offering unique improvements in terms of greater visibility, accessibility, portability and liquidity.
- Visibility – lessors will now have visibility of the refurbishment element of the operator’s TotalCare Life rate from five years from engine entry into service
- Accessibility – lessors will have increased flexibility, allowing them to elect to withdraw the TotalCare Life refurbishment element any time that the aircraft is off lease
- Portability – all improvements are designed to allow for greater flexibility and portability of the value
- Liquidity – improved liquidity enables the lessor to better manage and maximise its investment profile over the full engine lifecycle
Simon Goodson, Rolls-Royce, Senior Vice President - Customer Business, Civil Aerospace, said: “We have been working closely with our lessor customers to design a set of services that give them choice and flexibility across the lifecycle. LessorCare and LifeKey are key steps in our journey together. I’m particularly pleased to welcome Jackson Square Aviation and CDB Aviation as our launch LifeKey customers and look forward to our teams working together to make it a success.”
Toby Bright, CEO, Jackson Square Aviation, said: “We were among the first lessors to become a LessorCare partner and our LifeKey agreement takes our relationship with Rolls-Royce another step further.”
Lucas Mollan, Chief Technical Officer, CDB Aviation, said: “We see LifeKey as a positive enhancement to OPERA, which strengthens the LessorCare service we signed earlier this year. We look forward to continuing to work closely with Rolls-Royce on lessor-specific services.”
Rolls-Royce expects to bring all lessors using the existing OPERA mechanism over to LifeKey, which is only available as part of LessorCare.