Miami-based Aero Turbine, a subsidiary of the International Lease Finance Corp. (ILFC) that markets engines and aircraft parts, and Lufthansa Technik have announced their intention to enter into a partnership. Under the terms of the agreement, AeroTurbine will supply Lufthansa Technik with aircraft and engine components, while Lufthansa Technik will provide technical services and supply AeroTurbine with surplus material for resale.

As part of the deal, Lufthansa Technik will acquire a 15-percent interest in AeroTurbine, and if the partnership proceeds to the satisfaction of both parties, Lufthansa Technik can exercise the option to increase its holding to 19.9 percent.

This new partnership builds on the Hamburg-based company’s already close relationship with AeroTurbine, a provider of certified aircraft engines, parts and supply chain solutions.

Parent company ILFC is an aircraft leasing and remarketing company with approximately 1,000 owned and managed aircraft and commitments to purchase approximately 330 more. ILFC serves about 200 customers in more than 80 countries from offices in Los Angeles, Amsterdam, Beijing, Dublin, Miami, Seattle and Singapore.