AAR Signs Landing Gear Contract with IndiGo, a Low-Cost Airline in India
March 20, 2017
Global aftermarket leader to provide up to 49 full ship sets for A320s
WOOD DALE, Illinois, March 20, 2017 – AAR (NYSE: AIR), a global leader in aviation aftermarket services, has signed an agreement with India’s largest airline, Interglobe Aviation Limited (“IndiGo”), to provide support for landing gear overhaul services. The contract includes up to 49 full ship sets of A320 landing gear, as well as assemblies and subassemblies, for the next five years.
The agreement expands AAR Landing Gear Services’ footprint in the Asia-Pacific region and spearheads a relationship with the growing low-fare carrier, which AAR currently supports through exclusive components upon request. IndiGo currently operates 129 aircraft, which fly to 42 domestic and five international destinations.
AAR Landing Gear Services delivers comprehensive and cost-effective landing gear, wheels and brakes solutions to more than 40 commercial and military aircraft types, narrow-body and wide-body, at its state-of-the-art Miami facility. Services include everything from complete overhauls to minor repairs, component machining, plating and painting. AAR maintains a complete inventory of OEM parts, wheels, brakes and accessories. AAR also offers on-wing service and deploys Tiger Teams to handle on-site situations around the world.
“We are honored to win the trust of IndiGo team to perform the important landing gear overhauls and exchanges,” said Rahul Shah, AAR Senior Vice President, Strategic Growth and Business Development, Asia Pacific, Middle East and Africa. “Our quick turnaround times are one of the reasons we’ve landed several maintenance and repair contracts with low-fare and regional carriers in the past few months.”
“Our landing gear team takes pride in our global agility,” said Scott Ingold, Vice President and General Manager, AAR Landing Gear Services. “We are eager to extend our value proposition to a key player in one of the most important aviation markets in the world today.”
IndiGo’s Chief Aircraft Acquisition & Financing Officer, Mr. Riyaz Peermohamed, said: “IndiGo prides itself on its on-time performance and technical dispatch reliability. AAR’s global presence and quick turn-around times will help IndiGo to continue to maintain its global standards and customer expectations.”
AAR is a global aerospace and defense aftermarket solutions company that employs 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 and Composite Manufacturing 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 the estimated contract value. 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 and the Company’s Form 10-Q for the fiscal quarter ended February 29, 2020. 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.