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BERKSHIRE, England, July 24, 2019 /PRNewswire/ -- AAR (NYSE: AIR) subsidiary Airinmar, the global leader in component repair cycle management and aircraft warranty solutions, has signed a three-year agreement with Smartwings, the largest Czech airline, to provide component Value Engineering Services for maximum cost savings.
In May, Airinmar began applying its Value Engineering expertise and in-house support systems to identify and deliver opportunities to reduce the cost of maintenance on a wide range of aircraft equipment, including landing gear, nacelles, avionics, hydro-mechanical, actuation, interior components and more.
Airinmar's Value Engineering Services analyzes all costs associated with the repair process, including price quotes from suppliers and service vendors, labor, flight-hour agreements, and power-by-the-hour (PBH) pricing and warranties. Based on the data analyses and findings, Airinmar identifies for cost reductions, as well as process improvements.
"This new partnership with Airinmar will support us with efficiently managing our maintenance spend on our growing fleet while maintaining our high levels of operational performance," said Petr Hutla, Smartwings Head of Logistics.
"We are proud to be providing our Value Engineering Services as a standalone product to one of the fastest growing airlines in Central Europe," said Matt Davies, Airinmar General Manager. "We're ready to assist Smartwings in the reduction of its annual component repair costs using our unique expertise, support systems and robust Value Engineering techniques."
For more information on Airinmar's industry-leading component repair services and solutions, click here.
Airinmar offers a wide range of component repair and warranty management support services that reduce maintenance expenditure and enhance part availability. The leading dedicated repair management solutions provider in the world, Airinmar has supported airlines, MROs, OEMs and military operations for more than 30 years through the integration of its proprietary systems, engineering expertise and supply management solutions. Airinmar is a subsidiary of global aviation aftermarket leader AAR (NYSE: AIR).
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; maintenance, repair, overhaul; and engineering. AAR's Expeditionary Services include mobility systems and composite manufacturing operations. Additional information can be found at www.aarcorp.com.
Smartwings is the largest Czech airline and one of the fastest growing airlines in Central Europe. It belongs to the Smartwings Group. Smartwings operates scheduled flights, charter flights and private flights in the business jet category. In addition to the Czech Republic, it also operates in the Slovak Republic, Poland, Hungary and Germany, where it has subsidiaries. The regular air links of Smartwings offer more than 100 destinations not only in Europe. Most flights operate in cooperation (code share) with Czech Airlines, which is also part of the Smartwings Group. Smartwings flies not only the clients of travel agencies on chartered flights, but flights are also ordered by renowned international companies, and by global, humanitarian and sports organizations. Smartwings is certified IOSA (IATA Operational Safety Audit), representing the most advanced standards of operational safety and quality in air transport.
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, 2018. 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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