September 17, 2014
AAR Landing Gear Signs Five-Year Deal with Air Nostrum in Spain
Work is already under way on regional airline’s CRJ900 fleet
MIAMI – AAR (NYSE: AIR) announces an agreement with Air Nostrum, based in Valencia, Spain, to overhaul landing gear on its CRJ900 aircraft fleet. The contract builds upon AAR’s existing relationship and experience servicing landing gear on the airline’s entire fleet of CRJ200s over the past seven years. AAR is performing the work at its landing gear repair station in Miami.
This agreement expands AAR’s global maintenance, repair and overhaul capabilities on regional jets. Last month, the company signed an agreement with Utah-based SkyWest Airlines to overhaul landing gear on its fleet of 40 Embraer 175 commercial passenger jets.
“AAR has a strong partner in Air Nostrum and this new contract demonstrates the customer confidence and loyalty we strive to earn every day,” said Pastor Lopez, AAR’s Vice President of Aircraft Components and Landing Gear Services. “Our full-service Miami facility aims to consistently deliver quality results to Air Nostrum, one of the largest regional airlines in Europe.”
AAR Landing Gear Services is just one resource in AAR's 1MRO service network of solutions for commercial airlines worldwide. AAR offers a comprehensive range of products and services extending to heavy maintenance, landing gear and component repair services, as well as parts supply and support. AAR is the No. 1 provider of MRO services in North America and one of the top three in the world, according to industry rankings.
About AAR
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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