Benzinga | Aug 9, 2021 04:55PM EDT

Copa Airlines Selects Honeywell's Fuel Tank Safety Technology For Boeing 737 Fleet

* Copa Holdings SA (NYSE:CPA) subsidiary Copa Airlines has selected Honeywell International Inc (NASDAQ:HON) to provide the Air Separation Module (ASM) kit for its fleet of Boeing Co (NYSE:BA) 737 aircraft. The financial terms of the contract were not disclosed.

* Copa is the first airline to operate Honeywell's version of the safety system that has a seven-year warranty.

* Honeywell's ASM can be installed roughly six to eight hours faster than the current product from the original equipment manufacturer. This shortened installation time contributes to lower maintenance costs.

* Additionally, Honeywell's ASM has increased durability over other options currently installed in 737 aircraft and is designed to integrate with its Nitrogen Generation System, which has been line-fit on every 737 built after 2008.

* It is supplied as a kit and contains a new Honeywell ASM, complete with all needed blankets and brackets, ozone destruct filter and instructions for installation.

* Price Action: HON shares closed lower by 0.63% at $228.23, and CPA shares closed up 0.03% at $75.65 on Monday.