AAR Landing Gear Signs Five-Year Deal with Air Nostrum in Spain
September 17, 2014
Work is already under way on regional airline’s CRJ900 fleet
MIAMI, September 17, 2014 – AAR (NYSE: AIR) announces an agreement with Air Nostrum, based in Valencia, Spain, to overhaul landing gear on its CRJ900 aircraft fleet. The contract builds upon AAR’s existing relationship and experience servicing landing gear on the airline’s entire fleet of CRJ200s over the past seven years. AAR is performing the work at its landing gear repair station in Miami.
This agreement expands AAR’s global maintenance, repair and overhaul capabilities on regional jets. Last month, the company signed an agreement with Utah-based SkyWest Airlines to overhaul landing gear on its fleet of 40 Embraer 175 commercial passenger jets.
“AAR has a strong partner in Air Nostrum and this new contract demonstrates the customer confidence and loyalty we strive to earn every day,” said Pastor Lopez, AAR’s Vice President of Aircraft Components and Landing Gear Services. “Our full-service Miami facility aims to consistently deliver quality results to Air Nostrum, one of the largest regional airlines in Europe.”
AAR Landing Gear Services is just one resource in AAR's 1MRO service network of solutions for commercial airlines worldwide. AAR offers a comprehensive range of products and services extending to heavy maintenance, landing gear and component repair services, as well as parts supply and support. AAR is the No. 1 provider of MRO services in North America and one of the top three in the world, according to industry rankings.
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 firstname.lastname@example.org 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, 2014. 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.