AAR to Showcase its Expanding Aviation Services in Asia at Singapore Airshow
February 23, 2016
Company’s regional growth plan includes partnership to build MRO facility in South Korea
WOOD DALE, Illinois, February 16, 2016 — AAR (NYSE: AIR), a leading provider worldwide of aviation services to commercial airlines, original equipment manufacturers (OEMs) and governments, will showcase its growing presence in Asia, including a supply chain hub in Singapore and its first inventory management contract in Asia, during the Singapore Airshow Feb. 16–21.
AAR’s portfolio of aviation services encompasses award-winning aircraft maintenance, repair and overhaul (MRO); parts supply; inventory management and component repair; as well as airlift support, command and control centers, and shelters to support government and humanitarian missions. AAR recently was named Best Airframe MRO Provider Worldwide by ATE&M, its third such honor in four years.
Media attending the Singapore Airshow are invited to stop at AAR’s Booth S01 at the Changi Exhibition Centre, where AAR executives, including Chief Operating Officer, Aviation Services, John Holmes and Deepak Sharma, President of International Supply Chain, can share the latest Company ventures in Asia, as well as insights on global aviation market. AAR just celebrated its 60-year anniversary and is adept at anticipating industry challenges and devising innovative solutions for its diverse clientele around the world. In addition to helping startup and fast-growing airlines save money, AAR is renowned for translating best commercial practices into cost savings and mission success for government customers including the U.S. military and its allies.
In a special event during the Singapore Airshow, the Royal Aeronautical Society will present corporate partner certification to AAR at 11 a.m. Feb. 18, in AAR’s booth S01. This partnership is an extension of AAR’s global expansion agenda and provides an important venue for connecting with customers around the world.
AAR in Asia
AAR and Korea Aerospace Industries recently signed a Memorandum of Understanding in which they agreed to jointly establish an MRO facility for commercial aircraft in South Korea. AAR’s 1MRO Network, the third largest in the world, will provide its standard-setting practices in MRO as a consultant to KAI, the largest OEM and MRO provider for military aerospace customers in Korea. Chris Jessup, AAR’s Chief Commercial Officer, will be on hand to discuss AAR’s 1MRO network, which includes airframe maintenance, landing gear overhaul and technical and engineering capabilities. In fact, AAR operates a landing gear repair facility in Kuala Lumpur as part of a joint venture with Malaysian MRO provider, AIROD. Conveniently located near Kuala Lumpur’s Subang Airport, the facility brings high-quality, cost-effective landing gear services to commercial and military customers throughout the Asia Pacific region.
AAR’s supply chain hub in Singapore is part of a global network that ranks among the world’s leading providers of aftermarket aircraft parts and inventory support, as well as new OEM components. AAR is one of the largest providers of air-on-ground (AOG) service and power-by-the-hour (PBH) support for airlines worldwide with more than 800 aircraft under management. AAR recently signed its first inventory support agreement with an Asian airline, IBEX, a Japanese-based regional feeder for ANA Airlines. AAR serves customers in more than 100 countries from sales and service locations in Singapore, Japan, China, Abu Dhabi and Australia as well as the U.S., UK, France and Germany, so customers get the right part at the right time.
In addition to managing parts inventories for commercial airlines, AAR also provides comprehensive supply chain management solutions for government entities including the Japanese MoD Hawkeye E-2C. As of July, AAR also supports fleets acquired as part of Foreign Military Sales (FMS) and was quickly ramped up to begin in January a five-year, $72 million Complete Logistics Support (CLS) FMS contract to sustain a fleet of C-130H aircraft on behalf of the Afghan Air Force.
AAR also offers a range of high-value, cost-effective engineering services to augment customers’ technical requirements, specializing in interior, structural and systems modifications; avionics upgrades; and supply chain and maintenance program engineering solutions.
AAR’s Airlift division is also looking to expand its services into Asia. Airlift operates fixed and rotary-wing aircraft for the UN and government customers in Afghanistan, Africa, and South America. The Group was recently awarded extensions by the U.S. Navy to continue vertical replenishment of ships in the Arabian Gulf, Indian Ocean, Mediterranean Sea and Western Pacific. Randy Martinez, AAR’s Corporate Vice President of Strategy and Business Development, will be available to speak to reporters about AAR’s Airlift’s capabilities, as well as recent government contract awards and trends.
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; 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. 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.