AAR to Provide Aircraft Remarketing Services for United Airlines
WOOD DALE, Ill., /PRNewswire-FirstCall/ -- AAR (NYSE: AIR) announced today that it has been selected by United Airlines to remarket and provide technical advisory services for United's fleet of wholly owned Boeing 737 aircraft, which the company has previously announced will be retired from service. Under the terms of the agreement, AAR will assist United in placing its 737s with operators around the world -- with a focus on operators outside the US -- looking to upgrade or expand their fleets. The aircraft are available immediately.
"We will use AAR's global reach and resources to identify carriers that would benefit from adding high-quality 737s to their fleets in markets where demand is more robust or growing," said John Johnson, Vice President, AAR Aircraft Sales and Leasing. "Over the years, AAR has developed a broad network of customers for this aircraft type through our leasing activities, as well as our supply chain, maintenance and engineering services and support."
Through its Aircraft Sales and Leasing segment, AAR helps customers improve their liquidity by turning surplus assets into working capital. AAR Aircraft Sales and Leasing provides a broad range of technical services including aircraft evaluation, lease return condition analysis, aircraft and engine records management, aircraft preparation and asset management.
AAR is a leading provider of products and value-added services to the worldwide aerospace and defense industry. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve aviation and defense customers through four operating segments: Aviation Supply Chain; Maintenance, Repair and Overhaul; Structures and Systems and Aircraft Sales and Leasing. More information can be found at http://www.aarcorp.com.
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 May 31, 2008 Form 10-K. 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.
Chris Mason, Director, Corporate Communications of AAR
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