AAR Signs Landing Gear Maintenance Contract with Asiana Airlines
August 29, 2016
Agreement covers overhaul and exchange services for 767-38EF/-300 and 777-200ER assemblies
WOOD DALE, Illinois, August 29, 2016 – For the first time, global aerospace leader AAR (NYSE: AIR) will provide landing gear overhaul and exchange services for Asiana Airlines. The five-year agreement covers landing gear assemblies and sub-assemblies for Asiana’s 767-38EF-300 and 777-200ER aircraft.
The new partnership with the Asian carrier illustrates the growing reach of AAR’s Landing Gear Services in Asia. AAR will perform the landing gear overhauls in its dedicated Miami landing gear overhaul facility.
“AAR’s strong reputation, competitive shop turnaround time and proven quality has allowed us to forge relationships with new customers in the Asia Pacific region, one of the fastest-growing aviation markets in the world,” said Peter Loeb, Vice President, Global Sales and Marketing, AAR Landing Gear Services.
“Asiana Airlines knows it can count on AAR’s world-class standards for quality and reliability,”commented Dong-Jun Shin, General Manager, Aircrafts & Supplies Purchasing, Asiana Airlines.
About Asiana Airlines
Since its foundation in 1988, Asiana Airlines has fully committed itself to providing its customers with innovative and world-class services. As a proud member of Star Alliance, Asiana Airlines has continued to maintain its 5-star rating by Skytrax for 9 consecutive years since the year of 2007 and also received the Airline of the Year award from Air Transport World (ATW) in 2009, Skytrax in 2010, Global Traveler in 2011, and Premier Traveler/Business Traveler in 2012. With only 28 years of history, Asiana Airlines has achieved remarkable growth, operating 89 international passenger routes to 75 destinations in 24 countries. For cargo flights, Asiana Airlines operates 26 routes to 28 cities in 12 countries. For more information, visit us on the web at http://kr.flyasiana.com/C/en/main.do.
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 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 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.