AAR to Provide PBH Services to Africa’s Award-Winning, Low-Cost Carrier
May 12, 2016
fastjet selects global aftermarket leader to support its A319 fleet
WOOD DALE, Illinois, May 12, 2016 – AAR (NYSE: AIR), a leading provider of aviation aftermarket services to the world’s airlines, has extended its reach in Africa further with a contract to provide power-by-the-hour (PBH) component inventory management and repair services to fastjet. The long-term agreement with the award-winning, low-cost airline illustrates the global reach of AAR’s supply chain capabilities.
The contract encompasses nose-to-tail management of components and repairs for fastjet’s A319 airframes. To service fastjet’s fleet, AAR will:
· Draw from its global warehouse network, with a primary parts pool in Brussels. AAR also will leverage its digital supply chain and relationships with original equipment manufacturers (OEMs) for parts procurement and exchange.
· Deploy its proprietary predictive-maintenance software to ensure the right parts are in the right place at the right time. The goal is to minimize aircraft-on-ground-time at fastjet’s home base in Dar es Salaam, Tanzania, as well as its other locations.
fastjet, which began operations in 2012, recently celebrated its 2 millionth passenger served, a milestone reached just 15 months after the airline hit the 1 millionth passenger mark. The operator has flown more than 21,800 flights domestically and internationally, some for as little as $10 one-way, and recently expanded its fleet. In April, fastjet was named Africa's Leading Low-Cost Airline at the 23rd Annual World Travel Awards in Zanzibar, Tanzania.
“As fastjet expands, it needs a reliable fleet and a partner that can help minimize maintenance costs,” said Deepak Sharma, president, AAR international supply chain. “fastjet recognized that AAR has the bandwidth and expertise to access parts and perform repairs with maximum efficiency and effectiveness.”
“This contract reinforces AAR’s growing partnerships in Africa and our ability to cater to both low-cost and full-service operators,” said John Holmes, chief operating officer, AAR Aviation Services.“One of the many strengths of our global team is an ability to tailor solutions to each customer’s unique needs.”
AAR is a global aerospace and defense aftermarket solutions company that employs 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 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, including the estimated contract value. 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 and the Company’s Form 10-Q for the fiscal quarter ended February 29, 2020. 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.