WOOD
DALE, Ill., Sept. 23,
2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a
leading provider of aviation services to commercial and government
operators, MROs, and OEMs, has been awarded a five-year indefinite
delivery / indefinite quantity contract with an aggregate ceiling
value of approximately $1.2 billion
by the U.S. Navy's Naval Air Systems Command (NAVAIR) to perform
P-8A Poseidon depot airframe maintenance and depot field team
support for the U.S. Navy, government of Australia, and foreign military sales (FMS)
customers.
"Our rapid deployment teams provide
on-demand expertise anywhere in the world," said Nicholas Gross.
This follow-on contract continues AAR's strategic
partnership supporting NAVAIR. AAR will provide scheduled and
unscheduled maintenance, in-service repair, technical directive
incorporation, airframe modifications, and aircraft-on-ground (AOG)
support.
This contract retains AAR's position as a leader of commercial
derivative airframe maintenance for the U.S. Department of Defense
and supports the Navy's readiness through the repair of the P-8A
Poseidon.
"AAR is pleased to continue our longstanding partnership with
NAVAIR and honored to be the prime provider supporting this
critical fleet," said Nicholas
Gross, AAR's Senior Vice President of Integrated Solutions.
"Our rapid deployment teams provide on-demand expertise anywhere in
the world."
For more information on AAR's government solutions, visit
https://www.aarcorp.com/en/services/government-solutions/.
About AAR
AAR is a global aerospace and defense
aftermarket solutions company with operations in over 20 countries.
Headquartered in the Chicago area,
AAR supports commercial and government customers through four
operating segments: Parts Supply, Repair & Engineering,
Integrated Solutions, and Expeditionary Services. Additional
information can be found at 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, reflecting management's
expectations about future conditions, including anticipated
activities and benefits under the five-year contract.
Forward-looking statements may also be identified because they
contain words such as ''anticipate,'' ''believe,'' ''continue,''
''could,'' ''estimate,'' ''expect,'' ''intend,'' ''likely,''
''may,'' ''might,'' ''plan,'' ''potential,'' ''predict,''
''project,'' ''seek,'' ''should,'' ''target,'' ''will,'' ''would,''
or similar expressions and the negatives of those terms. 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. For
a discussion of these and other risks and uncertainties, refer to
"Risk Factors" in our most recent Annual Report on Form 10-K and
subsequent Quarterly Reports on Form 10-Q. 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.
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Contact:
Media Team
+1-630-227-5100
Editor@aarcorp.com
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SOURCE AAR CORP.