AAR Expands Reach in Europe with Enter Air PBH Support Contract
September 2, 2016
Low-cost, long-distance carrier selects AAR to support its B737 fleet
WOOD DALE, Illinois, September 2, 2016 – AAR (NYSE: AIR), a leading provider of aircraft maintenance and integrated supply chain solutions worldwide, has signed a long-term, multimillion-dollar agreement with Polish charter carrier Enter Air to provide full power-by-the-hour (PBH) component inventory management and repair services on 19 Boeing 737-series aircraft, including the 737CL and NG.
AAR will assume responsibility for nose-to-tail management of components and repairs on the fleet for Enter Air, a low-cost carrier based in Warsaw, Poland, that flies to 30 countries in Europe, Africa and the Middle East. AAR will tap into its global supply chain network, including its hub in Brussels that provides AOG and power-by-the-hour support for airlines in Europe, the Middle East and Africa.
AAR’s European footprint also includes a component repair facility in Amsterdam and Airinmar, a repair cycle management subsidiary based in Berkshire, England. Earlier this year, AAR announced a new International Sales Team based in Gatwick, England, that has spearheaded the rapid growth of AAR’s PBH offerings in Europe and beyond.
“We are pleased to partner with Enter Air to optimize its fleet performance, increase operational efficiencies and manage costs as the airline continues to grow,” said Deepak Sharma, President, AAR International Supply Chain.
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, 2016. 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.