WOOD
DALE, Ill. and PARIS and
AMSTELVEEN, Netherlands and
CHONBURI, Thailand,
Dec. 12,
2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading
provider of aviation services to commercial and government
operators, MROs, and OEMs, and Air France Industries KLM
Engineering & Maintenance (AFI KLM E&M), a multi-product
airline MRO, announced today they signed an agreement to form a
joint venture in the Asia-Pacific
region to support nacelles of next generation aircraft. This is the
second joint venture to be formed by the companies. The first was
formed in 2021 by Triumph Product Support, which was acquired by
AAR earlier this year, and AFI KLM E&M to serve the Americas
region.
"Our joint venture will be positioned with
strong capability to meet the needs of the largest fleets in the
APAC region"
Located in AAR's Chonburi, Thailand, facility, the new joint venture will
perform next generation nacelle maintenance, repair, and overhaul
services, including on-wing / on-site inspections, and ensure
extensive part availability for their valued customers. Together,
AAR and AFI KLM E&M are dedicated to meeting the evolving needs
of the aviation industry and maintaining their highly regarded
reputations for excellence in MRO services. The combination of an
independent MRO with a global airline and MRO will provide
unparalleled service and support for operators. The formation of
the joint venture is subject to regulatory approval and serves as
an addition to the worldwide network for nacelle services.
"This partnership with AAR strengthens both our positions in the
Asia-Pacific region. Our
expertise, local proximity, and sustainable supply chain will
ensure superior MRO services with enhanced efficiency, reliability,
and part availability," said Benjamin
Moreau, AFI KLM E&M's Senior Vice President of Strategy
& Business Development.
"By combining the experiences and innovative approaches of AAR
and AFI KLM E&M, we are able to expand our nacelle capabilities
portfolio and support an extensive network of operators," said
Jim Berberet, AAR's Senior Vice
President of Component Services. "Our joint venture will be
positioned with strong capability to meet the needs of the largest
fleets in the APAC region, and we plan to continue to cover
additional engine nacelle types in the future."
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 AFI KLM E&M
Air France Industries KLM
Engineering & Maintenance is a major multi-product MRO
(Maintenance, Repair, Overhaul) provider. With a workforce of over
12,800, AFI KLM E&M offers comprehensive technical support for
airlines, ranging from engineering and line maintenance to engine
overhaul, aero structure, and fan thrust reverser support, as well
as the management, repair, and supply of aircraft components,
structured around a powerful logistics network. AFI KLM E&M
supports almost 3,000 aircraft operated by 200 major international
and domestic airlines. www.afiklmem.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 regulatory approval
of the new joint venture and anticipated capabilities, activities
and benefits related to the new joint venture. 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.