Honeywell and ITP Aero Inaugurate Europe’s First F124 Engine Service Center in Madrid

MADRID, Spain, Sept. 29, 2025 -- Honeywell (NASDAQ: HON) and ITP Aero today announced the official opening of Europe’s first maintenance, repair and overhaul (MRO) service center for Honeywell’s F124-GA-200 engine. The milestone was marked by a ribbon-cutting ceremony at ITP Aero’s Ajalvir facility in Madrid.

“The opening of the new MRO service center in Madrid strengthens our commitment to enhancing engine readiness and operational flexibility for our European customers,” said John Head, vice president and general manager, Engines, Honeywell Aerospace Technologies. “By localizing MRO capabilities in Europe, we’re significantly improving turnaround times and reducing logistics burdens for our F124 engine operators.”

The center’s launch comes just a year after ITP Aero was awarded the F124 license and follows months of collaboration to build regional capability and infrastructure. The facility is now fully equipped to provide local repair and overhaul services for over 150 F124 engines currently operating in Europe.

“Becoming the first European authorized service center for F124 engines is a significant achievement for ITP Aero,” said Alan Jones, ITP Aero’s executive vice president of MRO. “This milestone builds on our long-standing partnership with Honeywell and represents a major step forward in our growth strategy, reinforcing Spain’s role in supporting NATO-aligned defense capabilities.”

About Honeywell

Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends – automation, the future of aviation and energy transition – underpinned by our Honeywell Accelerator operating system and Honeywell Forge IoT platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations through our Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments that help make the world smarter and safer as well as more secure and sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

About ITP Aero

As a world-leading partner in future flight technologies, ITP Aero specializes in designing, developing, manufacturing and providing lifecycle propulsion services for aeroengines that drive innovation, efficiency and sustainability. With a 35-year track record of innovation and a growing workforce of almost 6,000 professionals across 14 sites in 5 countries, ITP Aero plays a pivotal role in 40% of all commercial aircraft engine deliveries annually. With more than 5,000 engines in service, ITP Aero powers 6 aircraft take-offs every minute, partnering with all major engine OEMs to advance aviation globally.