AAR Signs Landing Gear Overhaul Contract with SkyWest, Inc.
February 6, 2017
Agreement covers more than 400 CRJ aircraft
WOOD DALE, Illinois, February 6, 2017 –Global aerospace leader AAR (NYSE: AIR) has signed a three-year agreement to provide landing gear overhaul and exchange services for SkyWest, Inc.’s (NASDAQ: SKYW) operating carriers. The agreement, which covers landing gear assemblies and sub-assemblies on its fleet of more than 400 Bombardier CRJ aircraft, includes the option to extend to five years.
The agreement builds on a relationship with SkyWest that dates to the 1990s. AAR, which will perform the work at its landing gear repair station in Miami, has previously provided similar services for SkyWest Airlines and ExpressJet’s fleet of Bombardier commercial passenger jets.
“This latest contract is a testament to the quality AAR delivers and the loyalty AAR earns from our customers,” said Troy Jonas, Vice President of MRO Services, AAR. “SkyWest and ExpressJet carry over 56 million passengers a year, and AAR’s team in Miami recognizes the role that our work plays in delivering them safely to each gate.”
SkyWest, Inc. is the holding company for two scheduled passenger airline operations that provide commercial air service in cities throughout North America. Together, SkyWest Airlines and ExpressJet Airlines operate nearly 3,000 daily flights carrying more than 56 million passengers annually through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.
“We’re pleased to secure this agreement with a proven landing gear provider,” said Bill Dykes, SkyWest Airlines’ Vice President of Maintenance. “We know from experience that we can count on AAR as a reliable partner.”
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, 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.