AAR Signs MOU to Take Part in FAA Aviation Safety Action Program (ASAP)
October 9, 2015
Program encourages MRO technicians to report potential safety issues
MIAMI, October 9, 2015 – AAR (NYSE: AIR), a recognized leader in aircraft maintenance, repair and overhaul (MRO), has signed a Memorandum of Understanding (MOU) with the Federal Aviation Administration of South Florida FSDO-19 to take part in its Aviation Safety Action Program (ASAP). Under ASAP, maintenance technicians at the Company’s aircraft repair facility in Miami are encouraged to voluntarily disclose potential safety issues that come to their attention.
The goal is to enhance aviation safety through the prevention of accidents and incidents. AAR Aircraft Services – Miami is the only Part 145 Repair Station in the south region to sign up for this voluntary program. The Miami repair station is also one of only 14 MROs in the U.S. in the FAA Voluntary Safety Management System program.
"AAR has a history and a culture of sharing information with the FAA, and ASAP is another way we’re partnering with the agency to enhance safety," said Frank R. Valenzano, Vice President Quality and Safety, Aircraft Services – Miami. "Aircraft safety should never be compromised for any reason. ASAP creates an environment that encourages reporting, and we’re happy to take part in it."
Safety and performance are the cornerstones of AAR’s 1MRO Network, comprised of five aircraft maintenance facilities in Indianapolis; Oklahoma City; Miami; Duluth, Minn.; and Lake Charles, La. Last year, AAR became the first maintenance provider to take part in the FAA’s Aviation Safety Information Analysis and Sharing program (ASIAS). The program is designed to help MRO operators avoid serious and potentially costly safety issues and the FAA to identify high-risk areas.
For more information on ASAP visit http://www.faa.gov/about/initiatives/asap/.
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, 2015. 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.