WOOD DALE, Ill., March 24, 2016 /PRNewswire/ -- AAR (NYSE: AIR)
was awarded a $104,970,967 five-year,
fixed-price contract by the Naval Air Systems Command (NAVAIR) for
fleet logistics support, including commercial depot support and
site support, for the C-40A Clipper aircraft, a derivative of the
Boeing 737-700 commercial airliner.
"We are honored by this selection and look forward to providing
top-notch service to our U.S. Navy customer," said John Holmes, Chief Operating Officer, Aviation
Services. "This award further cements AAR's position as a prime
logistics sustainment provider in the government and defense
marketplace."
"AAR is a strong fit for this contract because we can utilize
our broad range of services and facilities across the country to
maintain the airframes from tip to tail," said Don Wetekam, Senior Vice President, Government
& Defense Programs. "And we will be partnering with United
Airlines under their Part 121 certificate for technical parts and
quality oversight."
Heavy maintenance work on the C-40A aircraft, the newest
commercial derivative medium lift aircraft used for Navy Unique
Fleet Essential Airlift missions, will be performed at AAR's
Maintenance, Repair and Overhaul (MRO) facility at the Oklahoma City airport, with logistics being
supported at five Naval Air Stations. AAR will also use its landing
gear repair facility in Miami and
component repair shop in New York
to support the Navy fleet. AAR has contracted with Lockheed Martin
Commercial Engine Solutions to provide engine repair work.
"This contract is a great example of how AAR can apply
commercial aviation supply chain best practices to help the
government increase efficiencies and decrease costs," said
David P. Storch, Chairman, President
& CEO. "In this time of reduced budgets, government can rely on
a trusted partner like AAR that has been providing aviation
aftermarket services for more than 60 years."
About AAR
AAR is a global aftermarket solutions
company that employs more than 4,500 people in over 20 countries.
Based in Wood Dale, Illinois, AAR
supports commercial aviation and government customers through two
operating segments: Aviation Services and Expeditionary Services.
AAR's Aviation Services include inventory management; parts supply;
OEM parts distribution; aircraft maintenance, repair and overhaul;
and component repair. AAR's Expeditionary Services include airlift
operations; mobility systems; and command and control centers in
support of military and humanitarian missions. More 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, 2015. 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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SOURCE AAR