Air Canada and AAR Announce Signing a Five-Year MRO Contract with Air Canada for Boeing 767 Maintenance
September 25, 2017
WOOD DALE, Illinois, September 25, 2017 – Global aviation services leader AAR (NYSE: AIR) and Air Canada (TSX: AC) today announced they have signed a 5-year agreement to provide airframe maintenance for the airline’s fleet of 34 Boeing 767 at AAR’s Miami MRO facility. The contract will commence later this year and ramp up over three months.
Air Canada’s Senior Vice President, Operations, Rich Steer, added, “We have been pleased with the work performed by AAR on Air Canada’s fleet. This contract assures Air Canada of a quality solution for our Boeing 767 maintenance needs through AAR’s extensive and proven capabilities in this field.”
“We are excited to expand our long-term relationship with Air Canada to their 767 fleet,” said Chris Jessup, Chief Commercial Officer, AAR. “Our Miami MRO is a world-class facility that can accommodate wide-body aircraft and provides good-paying jobs to American workers.”
In addition to Miami, AAR’s award-winning network includes airframe maintenance facilities in Indianapolis, Indiana; Oklahoma City, Oklahoma; Duluth, Minnesota, Rockford, Illinois; Trois-Rivières, Quebéc; and Windsor, Ontario, as well as component repair facilities in New York and Amsterdam; and landing gear services in Miami.Across these sites, AAR provides industry leading maintenance, repair and overhaul for regional, narrow-body and wide-body aircraft operators. AAR is the largest MRO services provider in the Americas and third worldwide.
AAR is a global aftermarket solutions company that employs more than 5,000 people in over 20 countries. Based in Wood Dale, Illinois, AAR provides aviation services to commercial and government customers in over 100 countries through two operating segments: Aviation Services and Expeditionary Services. AAR’s Aviation Services include inventory management; parts supply; OEM parts distribution; aircraft maintenance, repair and overhaul; and component repair. AAR’s Expeditionary Services include airlift operations; mobility systems; and command and control centers in support of military and humanitarian missions. More information can be found at www.aarcorp.com.
Media contact: Kathleen Cantillon, Vice President of Strategic Communications, at Kathleen.Cantillon@aarcorp.com| 630-227-2081 or email firstname.lastname@example.org.
About Air Canada
Air Canada is Canada's largest domestic and international airline serving more than 200 airports on six continents. Canada's flag carrier is among the 20 largest airlines in the world and in 2016 served close to 45 million customers. Air Canada provides scheduled passenger service directly to 64 airports in Canada, 57 in the United States and 96 in Europe, the Middle East, Africa, Asia, Australia, the Caribbean, Mexico, Central America and South America. Air Canada is a founding member of Star Alliance, the world's most comprehensive air transportation network serving 1,300 airports in 191 countries. Air Canada is the only international network carrier in North America to receive a Four-Star ranking according to independent U.K. research firm Skytrax, which also named Air Canada the 2017 Best Airline in North America. For more information, please visit: www.aircanada.com, follow @AirCanada on Twitter and join Air Canada on Facebook.
Isabelle Arthur (Montreal) Isabelle.email@example.com 514 422-5788
Peter Fitzpatrick (Toronto) firstname.lastname@example.org 416 263-5576
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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, 2017. 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.