AAR Enters General Terms Agreement with Liebherr-Aerospace
Deal is key step in AAR’s comprehensive solution to support Airbus fleet
WOOD DALE, Illinois — AAR (NYSE: AIR) has signed a long-term general terms agreement with Liebherr-Aerospace. Under terms of the deal, Liebherr-Aerospace will provide full support of AAR’s nose-to-tail comprehensive solution on the Airbus fleet. In addition, Liebherr-Aerospace will grant access to technical documentation, spare parts, and technical support to AAR maintenance, repair and overhaul (MRO) repair centers in Garden City, New York, and Amsterdam, which will also be performing certain repairs on Liebherr equipment.
The agreement strengthens AAR's position in the aviation component support business and covers products Liebherr-Aerospace designs and manufactures for Airbus, including flight control, actuation and air-management systems. The terms allow for the agreement to be amended in the future for other aircraft types.
"Not only does this relationship enhance AAR's ability to provide comprehensive support for the Airbus fleet, it also allows us to provide customers OEM value at competitive pricing, along with all the technical support including engineering and reliability improvements," said John Holmes, Group Vice President – Aviation Supply Chain.
AAR’s Aviation Supply Chain offers a suite of products and services ranging from new and aftermarket airframe and engine parts to complete end-to-end supply chain programs involving inventory and repair management. AAR gives commercial and defense customers unmatched access to the aftermarket, maximizing service levels while minimizing total costs. AAR maintains one of the industry’s most extensive inventories of airframe and engine parts and components, and is one of the largest providers of power-by-the-hour component support. Capitalizing on its international network of distribution and repair centers, and cutting-edge tracking technology, AAR expedites delivery of products and services and customizes solutions for airline, MRO and OEM customers around the world.
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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