A trial scheduled for this year is no longer needed as Honeywell and Flexjet have settled the latter company’s lawsuit over costs and delays associated with Honeywell’s maintenance services agreement for Honeywell engines powering Flexjet airplanes. The settlement is worth more than a billion dollars, according to Flexjet.
“Honeywell and Flexjet are pleased to have reached a comprehensive agreement to resolve their pending litigation and look forward to rebuilding the parties' commercial partnership,” according to a Honeywell statement. “The agreement will resolve in full all pending claims among and between the parties, as well as related litigation involving StandardAero and Duncan Aviation. Simultaneously, and as partial consideration for the resolution of the litigation, Honeywell and Flexjet have agreed to extend their aircraft engine maintenance agreement through 2035. Honeywell and Flexjet look forward to working collaboratively going forward.”
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