AAR, Tawazun Economic Council and Global Aerospace Logistics sign joint repair management deal at Paris Air Show
June 20, 2019
WOOD DALE, Illinois — AAR (NYSE: AIR), a leading provider of aviation services to commercial airlines and governments worldwide, announced a new contract with Tawazun Economic Council, a defense and security industry enabler in the United Arab Emirates, and Global Aerospace Logistics (GAL), an Abu Dhabi-based professional aerospace and defense services company, to provide component repair management and consulting services for UAE military fleets.
Signed on June 18 at Paris Air Show, AAR will begin the two-year repair management contract providing complete repair loop services and supply management for GAL clients in the United Arab Emirates. AAR support will include UH-60 Black Hawk, CH-47 Chinook, Twin Otter and C-208 Caravan platforms.
“We are embarking on the next phase in development and growth for GAL and endeavor to strengthen our industry relationships. GAL is pleased to announce this strategic partnership with AAR to enhance service delivery to our customers in the UAE and support our regional growth initiatives,” said Khalid Al Breiki, GAL Chief Executive Officer. “We are excited to leverage AAR’s global supply chain and logistics support expertise, which will make us more agile as we scale our own capability. We see this as the beginning of a larger strategic partnership with AAR.”
“We are committed to enabling the sector by building industrial and human capabilities, creating new opportunities and allowing the transfer of know-how,” says Matar Al Romaithi, Tawazun Economic Council Chief Economic Development Officer. “This endeavor is a result of the new policy that will allow us to further support our goals in promoting long-term partnerships to enhance the aerospace and defense capabilities of the UAE as well within the region."
AAR will perform the services for GAL in Abu Dhabi, as well as at AAR headquarters in Wood Dale, Illinois.
AAR has the experience and expertise needed to provide meaningful knowledge transfer and capability development to GAL,” said John Holmes, AAR President and Chief Executive Officer. “We look forward to expanding our partnership with GAL as they seek to become a premier maintenance and integrated logistics support provider in the region.”
For more information on AAR Component Repair, please click here, and for more information about GAL, please visit www.gal.ae.
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, 2018. 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.