Airinmar selected by Wizz Air for warranty management services
October 14, 2020
BERKSHIRE, England — AAR (NYSE: AIR) subsidiary Airinmar, the top global independent provider of component repair cycle management and aircraft warranty solutions, signed a new services agreement with European low-fare carrier Wizz Air.
Airinmar will provide a full suite of warranty management services covering airframe, engines and components. The agreement covers the identification, claim and recovery of the multiple airframe, engine and component warranty entitlements provided by Airbus and its suppliers.These services will integrate with Wizz Air’s current materials management activities and focus on maximizing the recovery of Wizz Air’s warranty entitlements and reducing the cost of aircraft maintenance.
“Airinmar’s services will support us effectively recovering our warranty entitlements and reduce our maintenance spend on our growing fleet of 134 Airbus aircraft.” said Wizz Air. “With a further 250 aircraft on order, Airinmar’s delivery of new aircraft warranty cost savings and credit recovery aligns with our strategic goals and growth plan.”
“We are delighted to expand our services with Wizz Air, Central and Eastern Europe’s largest ultra-low-cost carrier” said Matt Davies, Airinmar General Manager. “With a proven track record of already delivering our value engineering services to Wizz Air, we are excited to continue our contribution to Wizz Air’s ambitious growth and sustained success over the coming years.”
For more information on Airinmar’s industry-leading warranty solutions, click here.
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Airinmar has supported airlines, MROs, OEMs, helicopter operators and military programs for more than 35 years through the delivery of its tailored component repair and warranty management support services, which deliver reduced repair expenditure, improved component availability and enhance operational efficiencies. Airinmar is a subsidiary of global aviation aftermarket leader AAR (NYSE: AIR).
About Wizz Air
Wizz Air, the fastest growing and greenest* European low-cost airline, operates a fleet of 132 Airbus A320 and A321 aircraft. A team of dedicated aviation professionals delivers superior service and very low fares, making Wizz Air the preferred choice of 40 million passengers in the financial year F20 ending 31 March 2020. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ. The company was recently named one of the world’s top ten safest airlines by airlineratings.com, the world’s only safety and product rating agency, and 2020 Airline of the Year by ATW, the most coveted honour an airline or individual can receive, recognizing individuals and organizations that have distinguished themselves through outstanding performance, innovation, and superior service.
* Wizz Air’s carbon-dioxide emissions were the lowest among European airlines in FY2019 (57.2 gr/km/passenger)
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, 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.