AAR to Provide Component Repair and Management for Air Contractors
February 24, 2014
Multi-year program will support transatlantic 757 service, increase efficiency
LONDON, United Kingdom – AAR (NYSE: AIR) has been awarded a three-year contract from Ireland-based Air Contractors Ltd. to provide component repair and management services for Boeing 757 aircraft operated by Air Contractors in a new cost-per-flight-hour program.
AAR will repair, overhaul, provision and supply components for Air Contractors’ base and line stations. Through increased component availability, AAR will be able to provide faster turn times and reduce repair costs. The work will be performed by AAR’s Aviation Supply Chain group, leveraging the Company’s diverse component repair and inventory management experience and capabilities.
“We were able to offer a flexible, high-value solution to Air Contractors that enables them to ensure high levels of service in support of its expanded transatlantic service,” said Carl Glover, Vice President of European Sales for AAR’s Aviation Supply Chain group. “We appreciate the confidence Air Contractors has shown in us with this new program and look forward to contributing to its efficient operations.”
AAR’s Aviation Supply Chain group offers a full range of products and services, from aftermarket airframe and engine parts to complete end-to-end supply chain management programs. AAR maintains one of the industry’s most extensive inventories of airframe and engine components and is one of the largest providers of flight-hour support. Capitalizing on its international network of distribution and repair centers, and cutting-edge tracking technology, AAR expedites delivery of products and services and customizes solutions for airline, MRO and OEM customers around the world.
About Air Contractors
With more than 40 years of experience, Air Contractors, based in Dublin, has established itself as Europe’s leading aircraft operator for the freight integrator, express parcel and postal markets. During this time, its route network has grown to serve over 90 cities operating more than 13,000 flights per year. Air Contractors announced the launch of its 757 service with Aer Lingus earlier this month.
AAR is a global aerospace and defense aftermarket solutions company that employs more than 6,000 people 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; maintenance, repair, overhaul; and engineering. 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. 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.