WOOD DALE, Ill., Feb. 24, 2020 /PRNewswire/ -- AAR (NYSE:
AIR), a leading provider of aviation services to commercial and
government operators, announced today that AAR Aircraft Services
Trois-Rivières ULC ("AAR") has entered into a letter of intent with
Air Canada regarding a ten-year, renewable agreement for airframe
maintenance.
This long term agreement should enable AAR to develop an
Airframe Maintenance Center of Excellence at its Trois-Rivières MRO
in Quebec, Canada, and to expand
its heavy maintenance services for Air Canada, which will stimulate
new investment in aerospace and create more high-quality aircraft
mechanic jobs.
The larger combined Airbus A330 fleet of Air Canada and Air
Transat would allow Air Canada to move wide-body A330 maintenance
work for both airlines from abroad to AAR in Trois-Rivières, in
addition to maintaining and expanding AAR's airframe
maintenance work in Quebec on the
A320 family, including all new A321-neo aircraft. AAR
currently performs airframe maintenance work in
Trois-Rivières on Air Canada's existing A320 fleet and E190
fleet (which is being phased out).
The letter of intent is subject to completion of the Transat
A.T. merger by Air Canada, requisite Board of Directors' approvals
and completion of final agreements, including terms generally
applicable to large-scale airframe maintenance
agreements.
AAR intends to make necessary facility infrastructure
investments in Trois-Rivières to develop a Center of Excellence and
accommodate the new wide-body A330 work of the combined Air
Canada and Air Transat fleet. Through this
agreement, it is expected that incremental aerospace jobs will be
created in Trois-Rivières and AAR's new capabilities will attract
airframe maintenance work from other A330 operators.
"From our very first project in Trois-Rivières, we've seen a
strong commitment to quality, safety and operational performance,"
said Rich Steer, Senior
Vice-President, Operations, Air Canada. "With our largest hub a
short distance away, we're excited to have a trusted partner like
AAR with a similar commitment to excellence, and also proud to be
supporting heavy maintenance work in Quebec, especially on wide-body aircraft.
This contract for additional work in Trois-Rivières represents
a long-term investment in increased airframe maintenance in
Quebec."
"We are honored to work closely with a premier carrier like
Air Canada for so many years and to be chosen as their maintenance
provider for both the A330 and A320 family fleet types," said
Chris Jessup, Chief
Commercial Officer, AAR. "AAR is proud to support the Canadian
economy and to grow our overall footprint in Trois-Rivières,
especially for the A330."
For more information on AAR MRO Services, visit
aarcorp.com/mro/.
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 AAR Aircraft Services
AAR Aircraft Services is a
full-service aircraft maintenance, repair and overhaul (MRO)
provider, wholly owned and operated by AAR Corp. with over 290,000
sf of facilities in Trois-Rivières, Quebec and Windsor,
Ontario, along with facilities in the United States. AAR took over Premier
Aviation's facilities in Trois-Rivières and Windsor in 2017. Since inception in 2002, the
Trois-Rivières facility has experienced a steady growth of clients
and services in general maintenance overhaul, modifications,
refurbishment and paint requirements. In 2012, the Trois-Rivières
facility started to perform MRO services for some of Air Canada's
Embraer fleet, including painting and supporting back shops. AAR
expanded Trois-Rivières MRO competencies in 2017 by performing all
MRO services on Air Canada's Airbus A319, A320 and A321 aircraft.
In September 2017, Air Canada awarded
a ten-year contract to AAR for the maintenance of its 125 Airbus
A320 and Embraer E190 single-aisle aircraft at the AAR facilities
in Trois-Rivières, contributing to the continuance of 350
specialized jobs. This work was transferred to Quebec from AAR's Duluth, Minnesota facility.
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.
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