AAR Signs Major Inventory Support Deal with UK Airline Flybe
Large stock of parts for Q400 wheels and brakes to cut costs, turnaround times
WOOD DALE, Illinois, July 29, 2013 – AAR (NYSE: AIR), a global leader in the supply and repair of component parts for the aviation industry, has signed a multi-year inventory support deal with European regional airline Flybe.
Under the terms of the agreement, AAR will support Flybe’s operational needs for wheels and brakes inventory for its Q400 fleet. To that end, AAR has provided the UK-based airline with a large inventory of parts, under a recent sale/leaseback agreement, for the airline to have on hand to support day-to-day requirements.
“This is another good example of how AAR has provided a flexible solution aimed at reducing the operational costs and enabling faster turnaround times for our customers,” said Carl Glover, Vice President, Sales, for AAR’s Aviation Supply Chain Group — Europe, Middle East and Africa.
AAR will house an additional pool of high-demand wheels and brakes inventory in its Amsterdam warehouse to support both Flybe and other Q400 operators in the region, providing them with a lower cost support solution.
“Like many of our customers in the EU, Flybe is working to adapt how it supports its fleet through outsourcing,” added Glover. “We are pleased to be part of the vendor community with which they have recently selected to partner.”
John Palmer, Director of Aircraft Maintenance at Flybe, said: “We are delighted to have concluded this transaction with AAR which gives us an excellent competitive financial outcome whilst ensuring our continuity of supply with an industry leading partner.”
AAR is a global aerospace and defense contractor that employs more than 6,000 people in 17 countries. Based in Wood Dale, Illinois, AAR supports commercial, government and defense customers through two operating segments: Aviation Services and Technology Products. AAR’s services include inventory management and parts distribution; aircraft maintenance, repair and overhaul; and expeditionary airlift. AAR’s products include cargo systems and containers; mobility systems and shelters; advanced aerostructures; and command and control systems. More information can be found at www.aarcorp.com.
Flybe is Europe's largest regional airline with 191 routes serving 15 countries. It operates more UK domestic flights than any other airline and was named Amsterdam Schiphol’s Airline of the Year 2012 Europe. More information can be found at www.flybe.com. Contact: Nial Duffy, Head of P PR and Public Affairs, at +44 (0)1392 266 610 or email email@example.com
AAR media contact: Shawn Taylor at 312-371-6260, Chris Mason at 630-227-2062 or email firstname.lastname@example.org
This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, including those factors discussed under Item 1A, entitled “Risk Factors”, included in the Company’s Form 10-K for the fiscal year ended May 31, 2012. Should one or more of these risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described. These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company’s control. The Company assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. For additional information, see the comments included in AAR’s filings with the Securities and Exchange Commission.