AAR Signs Integrated Component Solutions Agreement to Provide Full PBH Support of Air Malta’s A320neo
September 19, 2018
Global aftermarket leader expands PBH footprint in Europe
WOOD DALE, ILLINOIS, September 19, 2018 – AAR (NYSE: AIR), a leading provider of aviation aftermarket services to the world’s airlines, has entered a multiyear Integrated Component Solutions agreement with Air Malta to provide full power-by-the-hour (PBH) support of its A320neo aircraft. Air Malta will receive nose-to-tail ATA chapter coverage, including airframe, APU and engine line replaceable units (LRUs) together with the provision of on-site inventory in Malta.
The A320neo aircraft is the newest to join Air Malta’s growing fleet. This agreement expands upon an existing relationship in which AAR already supports the airlines’ most recently delivered A320ceo aircraft and marks the latest expansion of AAR’s PBH footprint across Europe. AAR recentlyenhanced and centralized its global AOG and order fulfillment services by creating an International Operations Centre in London Gatwick to empower customer operational excellence.
“AAR is a trusted partner with a proven track record of delivering just-in-time solutions to our commercial customers worldwide,” said Colin Craig, Senior Vice President, Business Development, AAR Integrated Solutions – Commercial. “We look forward to continuing our support of Air Malta at a time of growth and expansion.”
“Over the last year, we have embarked on a growth strategy during which we have added 21 new destinations and two aircraft, including a brand-new Airbus A320neo. In parallel to this, the airline embarked on a fleet rollover plan that will see us acquiring two brand-new Airbus A320neo next year. We are confident that through the support of AAR we will be in a better position to service our aircraft and our customers,” said Silvio Falzon, Air Malta Chief Operations Officer.
Air Malta, established in 1974, is the national flag carrier of the Maltese Islands, located in the centre of the Mediterranean in Europe. Headquartered in Gudja and its hub at Malta International Airport, Air Malta flies to destinations in Europe, the Middle East and North Africa.
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, 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.