WOOD DALE, Ill., Sept. 6, 2019 /PRNewswire/ -- AAR (NYSE:
AIR), a leading provider of aviation services to commercial
airlines and governments worldwide, has secured a new $118.6 million contract with the Naval Air
Systems Command (NAVAIR) to deliver two 737 aircraft and associated
support equipment to the U.S. Marine Corps (USMC).
The firm-fixed price contract, estimated to last two years,
entails the acquisition, modification, acceptance and delivery of
two 737-700 Increased Gross Weight (IGW) series commercial
aircraft. The aircraft will meet USMC C-9B replacement medium lift
requirements and be designated as C-40A aircraft when delivered.
AAR leveraged expertise across its Government Programs, Parts
Supply and MRO activities within the Aviation Services segment to
deliver this innovative solution to NAVAIR.
"We are honored to be selected by NAVAIR to manage the
procurement, upgrade modification and delivery of these aircraft,"
said John Holmes, AAR President and
CEO. "This integrated solution delivers an outstanding product
focused on cost efficiency that directly aligns with the Secretary
of the Navy's recently announced initiative to achieve greater
output and faster turnaround times for their dollars spent. AAR is
excited to promote this innovative partnership to all areas of
government to highlight the benefits of utilizing commercial
aftermarket solutions to meet military requirements."
The aircraft will be certified in accordance with the 14 Code of
Federal Regulations (CFR) Part 25 (airworthiness standards) in
three aircraft configurations, all-passenger, all-cargo and a
combined-passenger-cargo configuration.
"Our engineered approach seamlessly delivers a comprehensive
solution from across AAR's businesses that combines best practices
from our industry-leading repair, engineering services and supply
chain solutions," said Nick Gross,
AAR Senior Vice President of Government Solutions. "We are eager to
see these aircraft delivered for service in support of the Navy and
Marine Corps."
AAR will manage the program and provide parts distribution from
the company's headquarters in Wood Dale,
Illinois, perform engineering out of the Indianapolis MRO
facility, and provide maintenance and modification services at the
Oklahoma City MRO and Miami Landing Gear Services facilities.
For further detail on the contract award, please view the U.S.
Navy's public announcement here.
About AAR
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.
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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SOURCE AAR