March 24, 2009 / 9:59 PM / in 9 years

UPDATE 1-Vector Aerospace gets $170 mln contract

* Says contract to generate $170 mln over 7 yrs

* Says to provide engine maintenance to Jazz fleet

March 24 (Reuters) - Aviation repair company Vector Aerospace Corp RNO.TO said it signed an engine maintenance contract with Jazz Air LP JAZ_u.TO and expects the deal to generate about $170 million over the seven-year term.

Under the terms, the company’s unit Vector Aerospace Engine Services - Atlantic Inc will provide engine maintenance, repair and overhaul (MRO) for Jazz fleet.

Shares of Vector Aerospace closed at C$4.10 Tuesday on the Toronto Stock Exchange. (Reporting by Ashutosh Joshi in Bangalore; Editing by Ratul Ray Chaudhuri)

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