AAR expands Component Repair services with BAE Systems, providing additional regional jet program support
October 9, 2019
WOOD DALE, Illinois — AAR (NYSE: AIR), a leading provider of aviation services to commercial airlines and governments worldwide, has expanded its Component Repair and overhaul services with BAE Systems Regional Aircraft to include a wider range of components for its regional jet support programs.
AAR began executing on the Component Repair contract in January 2019, and following strong operational performance, signed a service expansion agreement in September to cover additional components. The scope of services focuses on BAE Systems’ out-of-production regional aircraft, utilizing AAR’s proven expertise in legacy platform component repair.
“With the rapid expansion of our global aerospace and defense business, AAR has been a trusted, skilled aftermarket provider to support our commercial regional aircraft programs,” said Andrew James, Director of BAE Systems Regional Aircraft. “Since entering our contract in January, AAR Component Repair has consistently delivered cost savings and a high-quality final product, and we look forward to continued benefits as we expand the services in our partnership.”
The services for the BAE Systems agreement are performed out of AAR’s Component Repair facility in Amsterdam.
“We are proud to take on a larger role supporting our OEM partner BAE Systems’ regional jet programs,” said Andre op’t Hof, Director of Commercial Operations at AAR Component Repair. “Our expertise has optimized our service delivery, providing high-quality, reliable repairs at a lower cost to the customer.”
For more information on AAR’s Component Repair capabilities, click here.
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, 2019. 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.