AAR signs Memorandum of Understanding with Korean Aerospace Engineering & Maintenance Services for F-16 component maintenance...
February 12 2020 - 11:18AM
AAR (NYSE: AIR), a leading provider of aviation services to
commercial airlines and governments worldwide, announced today a
Memorandum of Understanding (MOU) to provide consulting services
for Korean Aerospace Engineering & Maintenance Services
(KAEMS).
The two companies will collaborate to define required
capabilities and infrastructure for a new KAEMS facility in South
Korea that will provide component maintenance for the Republic of
Korea Air Force’s (ROKAF) F-16 fleet. The MOU includes training for
KAEMS employees at AAR’s component repair facilities in Amsterdam
and New York.
“As an independent maintenance, repair and overhaul provider,
specifically for the F-16 platform, AAR is an ideal partner for
KAEMS,” said Youn Ki Cho, KAEMS CEO. “Our advantages include a
commercial model, skilled workforce and familiarity with the F-16
airframe overhaul.”
“AAR has extensive expertise in component maintenance and the
F-16 in specific thanks to our global repair centers,” said Ken
Hein, AAR’s SVP Group Operations. “Sharing this expertise with our
partners at KAEMS will bring a critical readiness capability to
South Korea in direct support of its frontline F-16s.”
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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; 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.
About KAEMS
KAEMS is a unique MRO company designated by Korean Government
and a subsidiary company of KAI. The headquarter is located in
Sacheon city in the far south of Seoul. KAEMS is performing
commercial and military airframe maintenance and plans to expand
further with component maintenance services. With this plan, KAEMS
is now discussing cooperation plans with ROKAF and the Korean
Government as well as global leading companies.
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.
- AAR KEAMS signing picture Rahul Shah_Youn Ki Cho_1
Daniela Pietsch
AAR Corp
+1.630.227.5100
Editor@aarcorp.com
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