Airinmar Signs Warranty Support Agreement with Major European Low-Cost Carrier
February 1, 2019
BERKSHIRE, England, February 1, 2019 – AAR (NYSE: AIR) subsidiary Airinmar, a global leader in the provision of intelligent component repair cycle management and aircraft warranty solutions for commercial and defense customers, has signed an agreement with one of the leading low-cost carriers in Europe to augment its warranty management capability.
Airinmar will operate as an extension of the airline’s warranty team to identify, record and claim heavy/line maintenance warranty entitlements; lend expertise to assess service bulletins for additional warranty, when applicable; and maximize warranty recovery, including free of charge material and labour credits. In collaboration with the airline, warranty and guarantee entitlements associated with aircraft engines will be recovered, and projects will be run to analyse expendable equipment usage, review subcontract maintenance events and implement quarantines.
“We are proud that Airinmar has been chosen to complement this leading low-cost carrier’s existing warranty management team through the provision of our expertise, robust processes and systems,” said Matt Davies, General Manager, Airinmar. “Our new partnership adds a well-respected airline to our customer base as we expand our warranty management services.”
Airinmar offers a wide range of component repair and warranty management support services that reduce maintenance expenditure and enhance part availability. The leading dedicated repair management solutions provider in the world, Airinmar has supported airlines, MROs, OEMs and military operations for more than 30 years through the integration of its proprietary systems, engineering expertise and supply management solutions. Airinmar is a subsidiary of global aviation aftermarket leader AAR (NYSE: AIR).
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, 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, 2018 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.