AAR Signs Agreement with flydubai to Support Boeing 737 MAX Aircraft
July 19, 2017
Expands relationship with Dubai-based carrier, extends flight-hour services to new platform
WOOD DALE, Illinois, July 19, 2017 – AAR (NYSE: AIR) has expanded its relationship with flydubai by signing a long-term contract to provide comprehensive flight-hour component support for its new Boeing 737 MAX aircraft. The Dubai-based airline is set to take delivery of 100 Boeing 737 MAX 8 aircraft ordered at the 2013 Dubai International Airshow by the end of 2023. This is AAR’s first agreement to support the new aircraft and will utilize the company’s extensive global supply chain network, including its new parts warehouse in Dubai.
“AAR is honored that flydubai will be AAR’s launch customer for the Boeing 737 MAX aircraft,” said AAR Chairman and CEO David P. Storch at a signing ceremony in Dubai to mark this important event. “We have been supporting flydubai’s current fleet since September 2016, and it is a privilege to be entrusted with this new opportunity.”
“As the first customer of the Boeing 737 MAX 8 in the region, we are looking forward to bringing further fuel and operating efficiency to our young modern fleet,” said flydubai’s CEO Ghaith Al Ghaith. “AAR is a key partner with an enduring commitment to innovation and reliability, and we look forward to continuing our partnership.”
“Our imbedded team and proprietary systems enable the fastest possible response times and streamlined operational efficiencies,” said John Holmes, President and Chief Operating Officer, AAR. “This is another big win for our Integrated Supply Chain Solutions team who have a done a great job of expanding AAR’s flight-hour support services around the world.”
Dubai-based flydubai currently has a network of more than 90 destinations in 44 countries. It is committed to opening up previously underserved markets and provides direct links from Dubai to 63 routes that did not previously have direct air links to Dubai, or were not served by a UAE national carrier from Dubai.
Dubai-based flydubai strives to remove barriers to travel and enhance connectivity between different cultures across its ever-expanding network. Since launching its operations in 2009, flydubai has:
Created a network of more than 90 destinations in 44 countries.
Opened up 63 new routes that did not previously have direct air links to Dubai or were not served by a UAE national carrier from Dubai.
Operated a single fleet type of 58 Next-Generation Boeing 737-800 aircraft and will take delivery of more than 100 aircraft by the end of 2023.
In addition, flydubai’s agility and flexibility as a young airline has enhanced Dubai’s economic development, in line with the Government of Dubai’s vision, by creating trade and tourism flows in previously underserved markets.
Download a high resolution image of CEOs David Storch and Ghaith Al Ghaith from signing ceremony.
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, 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.