Honeywell and Flexjet settle litigation, extend maintenance deal to 2035

Honeywell International Inc. (NASDAQ: HON) and Flexjet announced they have reached a settlement agreement to resolve pending litigation and renewed their aircraft engine maintenance contract through 2035.

The agreement resolves all pending claims between the parties and related litigation involving StandardAero and Duncan Aviation, according to a statement from the companies. The extended maintenance agreement serves as partial consideration for the litigation settlement.

The companies stated they look forward to working collaboratively and rebuilding their commercial partnership following the resolution of their legal disputes.

Financial terms of the settlement and contract extension were not disclosed in the announcement made January 21.

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