TROIS-RIVIÈRES, Quebec,
Sept. 19, 2017 /PRNewswire/ -- Global
aviation services leader AAR CORP. (NYSE: AIR) and Air Canada (TSX:
AC) today announced they have signed a 10-year agreement to provide
airframe maintenance for the airline's Airbus narrow-body fleet of
A319, A320 and A321 aircraft, as well as a new five-year agreement
for Air Canada's Embraer E-190 fleet. AAR will perform the work at
its Maintenance, Repair and Overhaul (MRO) facility at
Trois-Rivières Airport in Québec, previously known as Premier
Aviation.
The work to be performed on Air Canada's fleet of 125 narrow
bodies will require approximately 350 aircraft mechanics at AAR's
Trois-Rivières facility. The total value of the contract over its
term is estimated to be approximately $500
million CAD.
"We have been very pleased with the quality and turnaround time
of AAR and the Trois-Rivières facility for the work performed on
our narrow-body fleet over the past five years and are especially
delighted that additional work can now be performed in
Trois-Rivières Québec," said Richard
Steer, Senior Vice President, Operations at Air Canada.
"This contract further supports the development of Québec's
aviation sector by encouraging industry expertise and job growth in
the coming years, and Air Canada is proud to be a significant
contributor to the economy of the region."
"We are honored by Air Canada's confidence in AAR's airframe
heavy maintenance expertise, and look forward to continuing our
long-term relationship," said Chris
Jessup, Chief Commercial Officer, AAR.
About AAR
In addition to those in Canada,
AAR's award-winning MRO network includes airframe maintenance
facilities in Indianapolis,
Indiana; Miami, Florida;
Oklahoma City, Oklahoma;
Duluth, Minnesota; and
Rockford, Illinois, as well as
component repair facilities in New
York and Amsterdam; and
landing gear services in Miami. Across these sites, AAR
provides industry-leading maintenance, repair and overhaul for
regional, narrow-body and wide-body aircraft operators. AAR is the
largest MRO services provider in the Americas and third
worldwide.
AAR is a global aftermarket solutions company that employs more
than 5,000 people in over 20 countries. Based in Wood Dale, Illinois, AAR provides aviation
services to commercial and government customers in over 100
countries 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.
About Air Canada
Air Canada is Canada's largest domestic and international
airline serving more than 200 airports on six continents.
Canada's flag carrier is among the
20 largest airlines in the world and in 2016 served close to 45
million customers. Air Canada provides scheduled passenger
service directly to 64 airports in Canada, 57 in the
United States and 96 in Europe, the Middle
East, Africa, Asia, Australia, the Caribbean, Mexico, Central
America and South America.
Air Canada is a founding member of
Star Alliance, the world's most
comprehensive air transportation network serving 1,300 airports in
191 countries. Air Canada is the only international network
carrier in North America to
receive a Four-Star ranking according to independent U.K. research
firm Skytrax, which also named Air Canada the 2017 Best Airline in
North America. For more information, please visit:
www.aircanada.com, follow @AirCanada on Twitter and join Air Canada
on Facebook.
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, 2017. 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