AAR Selected by Continental Airlines for 757 Winglet Installation
WOOD DALE, Ill., /PRNewswire-FirstCall/ -- AAR (NYSE: AIR) today announced that it has been selected by Continental Airlines to perform winglet installations for 16 of the airline's Boeing 757-300 aircraft. The work will be performed at AAR Aircraft Services -- Indianapolis, the Company's state-of-the-art maintenance, repair and overhaul (MRO) operation located at Indianapolis International Airport.
"We are proud to welcome Continental Airlines to our Indianapolis facility," said Danny Martinez, General Manager of AAR Aircraft Services -- Indianapolis. "The workforce we have established here has extensive experience with winglet installations that has led to industry leading turn-times and contributed to Indianapolis' reputation as an aviation center of excellence."
AAR offers a wide range of MRO services through its heavy maintenance facilities in Indianapolis, Miami, Oklahoma City and Hot Springs. Since moving into the Indianapolis Maintenance Center in 2004, AAR has grown its employment base to over 700 highly skilled professionals and invested over $5 million in capital improvements at the facility.
Martinez added, "We continue to work with the Indianapolis Airport Authority and local government to explore ways to expand AAR's capabilities and presence, including leasing additional space and equipment, to attract new business to the facility."
AAR is a leading provider of products and value-added services to the worldwide aviation/aerospace industry. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve airline 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 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, 2009 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.
CONTACT: Chris Mason, Director of Corporate Communications of AAR, +1-630-227-2062
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