AAR Becomes the First MRO Operator to Sign Data-Sharing Pact with FAA
June 6, 2014
Leader in aircraft maintenance takes steps to ensure aviation safety, identify risks
WOOD DALE, Illinois, June 6, 2014 -- AAR (NYSE: AIR), a recognized leader in aircraft maintenance, repair and overhaul (MRO), has become the first MRO operator to agree to voluntarily share safety information with the Federal Aviation Administration. AAR recently signed an agreement to take part in the FAA’s Aviation Safety Information Analysis and Sharing program (ASIAS), which is designed to help MRO operators avoid serious and potentially costly safety issues and the FAA to identify high-risk areas.
“The FAA is very pleased to have AAR launch the ASIAS program among MROs,” said Steven Douglas, Manager, Aircraft Maintenance Division, for the FAA. “We believe that sharing and analyzing safety data are important for the aviation industry as a whole.”
Safety and performance are the cornerstones of AAR’s 1MRO Network, comprised of six aircraft maintenance facilities in Indianapolis; Oklahoma City; Miami; and Duluth, Minn.
“We understand that voluntary reporting is critical to overall safety in the aviation industry and are excited to partner with the FAA’s efforts,” said Art Smith, AAR Vice President and Chief Quality Officer. “Although we are now officially signed on to the ASIAS program, our customers and other partners know AAR has long had a culture and practice of sharing safety information.”
AAR has received frequent industry recognition, including earning the Diamond Award of Excellence, the FAA’s highest honor for maintenance training, for the fifth-consecutive year. AAR also was recently voted Best Airframe Provider in the Americas by industry professionals.
AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR’s Aviation Services include Parts Supply; OEM Solutions; Integrated Solutions; and Maintenance, Repair and Overhaul (MRO) Services. AAR’s Expeditionary Services include Mobility Systems operations. Additional information can be found at www.aarcorp.com.
Media contact: Daniela Pietsch, Vice President Corporate Marketing & Communications, at email@example.com or +1 630-227-5100.
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, including, but not limited to,statements regarding the agreement to establish The Module Factory,AAR’s estimate that it will manage the teardown, repair, marketing and sales of spare parts of FTAI’s CFM56 engine pool totaling over 200 engines and growing, AAR’s ability to leverage its extensive USM capabilities to offer CFM56 serviceable engine material to the global commercial aviation aftermarket, that the partnership positions AAR well to service the growing demand for USM on a leading engine platform as customers increasingly prioritize more cost-efficient solutions, and the belief that serviceable engine products, combined with FTAI’s proprietary products and partnerships, completes its unique suite of CFM56 aftermarket offerings aimed at delivering the lowest cost per cycle solution to airline customers. Forward-looking statements may also be identified because they contain words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘continue,’’ ‘‘could,’’ ‘‘estimate,’’ ‘‘expect,’’ ‘‘intend,’’ ‘‘likely,’’ ‘‘may,’’ ‘‘might,’’ ‘‘plan,’’ ‘‘potential,’’ ‘‘predict,’’ ‘‘project,’’ ‘‘seek,’’ ‘‘should,’’ ‘‘target,’’ ‘‘will,’’ ‘‘would,’’ or similar expressions and the negatives of those terms. 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, 2013. 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.