Demand for new aviation workforce fuels AAR, Vincennes University partnership
January 31, 2019
January 31, 2019 - INDIANAPOLIS, Ind. - AAR (NYSE: AIR), a global provider of aviation services, and Vincennes University (VU) today announced their new aviation maintenance education and training partnership to further enhance instruction as well as student job experiences and career prospects at AAR upon graduation.
AAR’s EAGLE Career Pathway program will expand the curriculum of VU’s aviation maintenance technology program to include job shadowing and mentoring, as well as academic support and monitoring. VU students who pursue the FAA-certified aircraft mechanic’s certificate are eligible for up to $15,000 in tuition reimbursements from AAR.
Indiana Gov. Eric Holcomb joined John Holmes, AAR president and CEO, Chuck Johnson, president of Vincennes University, and Indianapolis Mayor Joe Hogsett for the official announcement on Thursday at VU’s Aviation Training Center, located at the Indianapolis International Airport.
"I'm proud to support this partnership that complements our goal to strengthen our workforce and equip Hoosiers to fill the high-wage, high-demand jobs throughout our state," Gov. Holcomb said. "Together AAR and Vincennes University will help students take their education and skills into a fulfilling career."
AAR’s partnership with VU is one of many ways the company is connecting students with education and real-world job experience to fill the gaps in aviation for middle skills that do not require a bachelor’s degree. There is demand for 189,000 new mechanics in North America through 2037, according to a Boeing study. But aircraft maintenance technicians (AMTs) are already in short supply.
“There are significant opportunities for government, business and educators to collaborate to resolve the industry’s workforce challenges,” Holmes said. “At AAR, we are encouraged by the enthusiasm and support we’ve received in Indiana and across the Midwest to provide greater access to training for jobs that are available now.”
VU and the state are pushing to grow Indiana’s workforce and are focusing on developing workers for high-priority industries and in-demand, high-paying jobs. Holcomb’s Next Level Jobs program is part of the Next Level Jobs Indiana initiative. The multifaceted approach provides reimbursements to Indiana employers for training employees in high-demand fields. The Workforce Ready grants allow Hoosiers to receive tuition-free certificates from VU in flourishing sectors of Indiana’s economy, including advanced manufacturing, building and construction, health and life sciences, information technology and business services, and transportation and logistics. VU offers 47 qualifying programs, including two in aviation maintenance technology in Indianapolis.
“Vincennes University is proud of the long and successful association we have had with AAR, and with this new announcement we are taking the partnership to the next level,” said Johnson of Vincennes. “This program combines a great company in a key industry sector whose economic impact is growing in central Indiana and throughout our state, with VU's tradition of producing the highest quality aviation technicians. Further, we are grateful for the opportunity to help more Hoosiers acquire the training, education and skills they need by leveraging the funds available through the governor's Next Level Jobs program.”
AAR is introducing the EAGLE Career Pathway at schools near its five U.S. aircraft repair stations. EAGLE demonstrates how students can earn portable, stackable skills leading to multiple career paths at AAR. The stackable skills will enable interested students to pursue the coveted position of FAA-certified airframe and powerplant (A&P) mechanic.
About Vincennes University Aviation Technology Center
The 92,000-square-foot facility has two hangars and 15 aircraft, including a fully functional Boeing 737-200, as well as two full-motion flight simulators and two stationary simulators. Students can earn a FAA Airframe and Powerplant (A&P) certificate along with either an Associate of Applied Science Degree or Associate of Science Degree in Aviation Maintenance Technology in just 20 months. Students training to become commercial pilots can earn private, instrument, commercial, and multi-engine ratings along with an Associate Degree in Aviation Flight. More information is available at www.aviationtechcenter.com or by calling 317-381-6000.
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 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, 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, 2018. 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.