AAR Signs Agreement with Ontic for Support of Military MRO Business
October 16, 2018
WOOD DALE, Illinois, October 16, 2018 — Ontic, a BBA Aviation company and the aerospace industry’s leading provider of ‘Extended Life Solutions’ for OEM legacy products, has appointed AAR as its authorized inventory management partner and exclusive distributor in support of Ontic UK’s Military MRO business. This business includes a variety of repair and overhaul services for a portfolio of legacy avionics parts servicing the military market, including electromechanical, barometric, gyroscopes and electronics products. Key platforms include the BAE Hawk aircraft; Leonardo Sea King and AW101 helicopters; Lockheed C-130 transports; Boeing F-15 and V22; and the Tornado.
“This partnership with AAR represents a great strategic fit for Ontic, with both organizations being very closely aligned in their approach to delivering the highest customer service levels,” said Matthew Pritchard, Ontic’s UK Site Director. “We believe our military MRO customers will be pleased with the increased level of service they receive as a consequence of this relationship with AAR. As Ontic continues to grow, I’m confident that our partnership will expand as we look to deliver extended life solutions to our customers and OEM partners.”
“We are delighted with our appointment as Ontic's authorized inventory management partner and exclusive distributor for their military MRO business,” said AAR’s Tim Driscoll, Vice President and General Manager of OEM Solutions. “We look forward to working with Ontic to provide our mutual customers with the parts they need, when they need them.”
Ontic is a wholly-owned subsidiary of BBA Aviation plc, with over 42 years of aerospace product manufacturing and aftermarket support experience. Ontic provides FAA, CAAS, CAAC, TCCA, DCA, EASA Part 21 and 145 OEM support, including new and serviceable spares and repairs for over 4,500 maturing and legacy aircraft parts. Its portfolio of products licensed or acquired from major OEMs such as Honeywell, UTC Aerospace, Safran, Thales and GE Aviation, span all major aircraft systems in both civil and military markets. For more information, please visit www.ontic.com.
About BBA Aviation
BBA Aviation plc is a market leading, global aviation support and aftermarket services provider, primarily focused on servicing the business and general aviation (B&GA) market. BBA supports its customers through three principal businesses: Signature Flight Support and Signature TECHNICAirTM, which provide premium, full-service flight and home base support including refuelling, ground handling, hangarage and MRO services through the world’s largest fixed base operation (FBO) network for B&GA users with around 200 locations covering key destinations in North America, Europe, South America, Caribbean, Africa and Asia. Ontic is a leading provider of high-quality equipment and cost-effective solutions for the continuing support of maturing and legacy aerospace platforms, with locations in the USA, Europe and Asia. Engine Repair & Overhaul/Global Engine Services is a leading independent engine service provider to global B&GA operators, the rotorcraft market and regional airline fleets with locations in the USA, Europe, South America, Asia and the Middle East. For more information, please visit www.bbaaviation.com.
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, 2018. 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.