AAR Signs Long Term Component Repair Contract with Utair
January 31, 2018
AAR Signs Long-Term Component Repair Contract with Russia’s Utair
Contract includes reliability engineering to help improve on-wing component reliability
WOOD DALE, Illinois, January 31, 2018 – AAR (NYSE: AIR), a worldwide provider of aviation services to commercial airlines and governments, has announced a long-term agreement between AAR Aircraft Component Repair – Amsterdam and the Russian airline, Utair Aviation. Under the eight-year deal, AAR provides component repair and exchange for Utair’s B737 and ATR fleets, as well as reliability engineering support to improve on-wing component reliability.
“This agreement reinforces the significance of our growing relationship with Utair,” said Andre op’t Hof, Director of Commercial Operation, AAR Component Repair – Amsterdam. “The inclusion of reliability engineering allows us to go beyond what the manual requires for shop visits and also to schedule failure-preventing removals.”
“Utair wanted to invest in component availability and on-wing performance to increase efficiency and decrease costs,” said Alexander Vasiliev, Deputy Director for Technical Operations, Utair. “We had already been working with AAR’s Component Repair shop in Amsterdam and decided to sign a contract to become a priority customer and guarantee turn times on repairs.”
AAR’s Component Repair shops in Amsterdam and New York are recognized leaders in providing repair services for more than 6,000 components to both commercial and government customers.
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, 2017. 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.