AAR Corp. : AAR Awarded Multi-Year Contract to Provide Component Repair Services for Alaska Airlines
04/04/2012| 07:05am US/Eastern
WOOD DALE, Ill., April 4, 2012 /PRNewswire/ -- AAR (NYSE: AIR) has been awarded a 10-year contract by Alaska Airlines (Alaska) to provide component repair and management services for its fleet of 87 Boeing 737-700, 800 and 900 aircraft in a new cost-per-flight-hour program.
AAR will test, repair and overhaul components with guaranteed turn times, providing Alaska with reduced repair costs and increased component reliability. AAR has served as a supplier of aircraft maintenance, repair and overhaul services to Alaska since 2002.
"For more than a decade, AAR has provided Alaska with high-value services to operate their fleet cost-effectively and safely," said John Holmes, Division President, AAR Allen Asset Management. "This new program builds upon that long-standing partnership and reflects our successful track record of helping Alaska optimize their aircraft availability. We look forward to providing high levels of service, excellent turn times and cost savings through this new program."
The agreement covers the repair of high-removal, high-value components across Alaska's entire fleet. The program will be managed by AAR's Aviation Supply Chain group, backed by systems and resources gained through AAR's acquisition of component repair management provider, Airinmar.
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 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.
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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, 2011. 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.