WOOD DALE, Ill., Oct. 9, 2019 /PRNewswire/ -- AAR (NYSE: AIR), a leading provider of aviation services to commercial airlines and governments worldwide, has expanded its Component Repair and overhaul services with BAE Systems Regional Aircraft to include a wider range of components for its regional jet support programs.
AAR began executing on the Component Repair contract in January 2019, and following strong operational performance, signed a service expansion agreement in September to cover additional components. The scope of services focuses on BAE Systems' out-of-production regional aircraft, utilizing AAR's proven expertise in legacy platform component repair.
"With the rapid expansion of our global aerospace and defense business, AAR has been a trusted, skilled aftermarket provider to support our commercial regional aircraft programs," said Andrew James, Director of BAE Systems Regional Aircraft. "Since entering our contract in January, AAR Component Repair has consistently delivered cost savings and a high-quality final product, and we look forward to continued benefits as we expand the services in our partnership."
The services for the BAE Systems agreement are performed out of AAR's Component Repair facility in Amsterdam.
"We are proud to take on a larger role supporting our OEM partner BAE Systems' regional jet programs," said Andre op't Hof, Director of Commercial Operations at AAR Component Repair. "Our expertise has optimized our service delivery, providing high-quality, reliable repairs at a lower cost to the customer."
For more information on AAR's Component Repair capabilities, click here.
AAR is a global aerospace and defense aftermarket solutions company that employs more than 6,000 people in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR's Aviation Services include Parts Supply; OEM Solutions; Integrated Solutions; and Maintenance, Repair and Overhaul (MRO) Services. AAR's Expeditionary Services include Mobility Systems and Composite Manufacturing operations. Additional information can be found at www.aarcorp.com.
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, 2019. 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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