WOOD
DALE, Ill., Sept. 26,
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
engine depot maintenance and repair for its P-8A Poseidon Aircraft
fleet. This new award follows a recently announced award under
which AAR will continue to perform P-8A airframe maintenance for
the U.S. Navy.
"This contract is an important step forward
in AAR's strategy to grow and advance its commercial derivative
business."
Beginning October 2024, AAR, along
with strategic partner Delta TechOps, will provide program
management, supply chain management, engineering support, and
maintenance and repair services to increase engine asset
availability for the Navy's growing fleet. The additional engine
maintenance capability achieved through this partnership with AAR
will enable the U.S. Navy to continue flying the P-8A and complete
its vital national security mission.
This contract is an important step forward in AAR's strategy to
grow and advance its commercial derivative business through the
delivery of integrated solutions. It is also expected to increase
the volume of engine part sales in the Company's Part Supply
segment.
"AAR's tailored solutions integrate government and commercial
capabilities to provide parts supply, maintenance, and other
services to meet customers' unique mission-critical needs," said
Nicholas Gross, AAR's Senior Vice
President of Integrated Solutions. "We are proud to expand our
support of the Navy's maritime patrol and reconnaissance mission
through P-8A maintenance and repair."
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.
About Delta TechOps
Delta TechOps is the largest
airline maintenance, repair and overhaul (MRO) provider in
North America. In addition to
supplying maintenance and engineering support for Delta's large
fleet of aircraft, Delta TechOps provides high-quality service to
more than 150 other aviation and airline customers around the world
and has developed strategic partnerships for next-generation
engines with Pratt & Whitney and Rolls-Royce. The organization
specializes in high-skill work such as engines, components, and
line maintenance. Delta TechOps employs thousands of aviation
maintenance professionals and is one of the world's
most-experienced providers with more than 90 years of aviation
experience. For more information
visit www.deltatechops.com.
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This press release may
contain 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 management, as
well as assumptions and estimates based on information currently
available to management 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
AAR CORP.'s 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
management's control. Management 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.
|
Contact:
Media Team
+1-630-227-5100
Editor@aarcorp.com
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SOURCE AAR CORP.
