AAR’s Nordisk Expands Embedded Base of UltraLite Cargo Containers
Finnair selects Nordisk ULDs to improve fuel economy and reduce CO2 emissions
WOOD DALE, ILLINOIS — AAR (NYSE: AIR) announced today that Nordisk Aviation Products has begun manufacturing and delivering Nordisk UltraLite AKE unit load devices (ULDs) for Finnair’s fleet of wide-body aircraft. Nordisk ULDs are used by commercial airlines to efficiently store and transport cargo and offer industry-leading strength-to-weight performance. Nordisk began manufacturing its second-generation Nordisk UltraLite ULDs in 2010 and to date has sold more than 4,500 units.
Compared with traditional ULDs weighing around 85 kg, the Nordisk UltraLite AKE weighs only 55 kilograms, significantly contributing to reduced fuel consumption and CO2 emissions. For an airline operating 18 aircraft, flying an average 3,800 hours per year and carrying 14 Nordisk UltraLite AKEs per plane, this translates into a weight reduction of 7,560 kg, saving the airline approximately 1,149,120 kg of fuel per year and cutting CO2 emissions by 3,619,728 kg.
“We are committed to providing customers with cargo products that reduce weight and overall operating costs while withstanding the rigorous demands of day-to-day flight operations,” said Frode Ljøterud, President of Nordisk Aviation Products. “Our products are value engineered with our airline customers in mind — a key driver behind the continued growth of our embedded base.”
AAR acquired Nordisk Aviation Products and Telair International in 2011, boosting the Company’s commercial manufacturing business. The combination of Nordisk, Telair and AAR Cargo Systems makes AAR one of the world’s premier providers of cargo systems and products for commercial and military aircraft.
AAR is a global aftermarket solutions company that employs more than 6,000 people in over 20 countries. Based in Wood Dale, Illinois, AAR supports commercial aviation and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR’s Aviation Services include inventory management; parts supply; OEM parts distribution; aircraft maintenance, repair and overhaul; engineering services and component repair. AAR’s Expeditionary Services include airlift operations; mobility systems; and command and control centers in support of military and humanitarian missions. More information can be found at www.aarcorp.com.
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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 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.
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