Honeywell International Inc., parent of engine manufacturer and services provider Honeywell Aerospace Technologies, has disclosed in a filing with the United States Securities and Exchange Commission (SEC) on December 22 that it expects to pay USD470 million if a settlement is reached in a lawsuit filed by Flexjet (LXJ, Cleveland Cuyahoga Country) in 2019.

The lawsuit, which could see Flexjet receive up to USD1.2 billion, arises from an agreement under which Honeywell committed to service and maintain engines across Flexjet's fleet, including Honeywell HTF turbofan engines installed on Bombardier Business Aircraft and Embraer Executive Jets.

In a statement provided to ch-aviation, a Flexjet spokesperson said the USD470 million figure disclosed by Honeywell represents an accounting recognition rather than a finalised agreement, which could entitle Flexjet to more than USD1 billion. The spokesperson added that Flexjet remains engaged in negotiations with Honeywell to reach a comprehensive agreement aligned with the original Master Services Agreement. Flexjet said it is encouraged by Honeywell's public acknowledgement of the matter and is seeking “a resolution that strengthens accountability and reinforces the importance of service reliability for the aviation industry at large.”

ch-aviation has reached out to Honeywell for comment.