AAR Wins Maintenance and Modifications Contract from Virgin America
WOOD DALE, Ill., /PRNewswire via COMTEX/ --AAR CORP. (NYSE: AIR) announced today that it has been awarded an eighteen month contract from Virgin America to provide maintenance and installation services for the airline's growing fleet of Airbus 320 series aircraft.
Through its Aircraft Services facility in Miami, Fla., AAR will perform comprehensive heavy maintenance "D-Checks" on Virgin America's existing fleet of aircraft and install seating and advanced in-flight entertainment systems (IFEs) on their upcoming aircraft deliveries from Airbus. The Virgin America aircraft feature some of the most sophisticated and feature-rich IFEs in use today, providing passengers with in-flight access to satellite TV, movies, games, Internet and personal mood lighting.
AAR's President and Chief Operating Officer Timothy J. Romenesko said, "In four years, Virgin America built a thriving airline with a reputation for value and high-quality service. We are enthusiastic about working with them to maintain their A320 fleet and provide passengers with the very best in on-board entertainment."
"We are pleased to partner with AAR to continue to offer our guests the best in-flight entertainment in the domestic skies," said Mark Bianchi, Senior Vice President of Technical Operations at Virgin America. "AAR is a key partner as we continue to grow in the North American market and bring our low-fare, upscale service to more new destinations in 2011 and beyond."
AAR was recently named a Top-Performing Company by Aviation Weekand Space Technology, and ranked the number one U.S.-based company in all categories of Overhaul & Maintenance magazine's biennial "Top 10 MRO" report.
AAR is a leading provider of value-added products and services to the worldwide aerospace and government and defense industries. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve aviation and government and defense customers through four operating segments: Aviation Supply Chain; Maintenance, Repair and Overhaul; Structures and Systems; and Government and Defense Services. More information can be found at www.aarcorp.com.
Named one of The Most Trustworthy Companies by Forbes magazine.
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, 2010 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.
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