AAR signs extension and expansion of flight-hour component support agreement with ASL Aviation Holdings DAC

WOOD DALE, Ill., Dec. 27, 2023 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, has signed a multi-year contract extension and expansion for flight-hour component support services with ASL Aviation Holdings DAC (ASL Airlines).

The contract extends and expands AAR's existing component support agreement with ASL Airlines Belgium to include ASL Airlines France, ASL Airlines United Kingdom, and ASL Airlines Ireland. AAR currently supports 28 ASL aircraft, which is expected to increase to 65 under the new agreement. AAR's Integrated Solutions' segment will provide 24/7 component support services for the airlines' Boeing 737 fleets.

"For more than a decade, ASL has benefited from AAR's proven excellence in delivering flight-hour support services and associated cost efficiencies, which enable the on-time performance of ASL's operations," said James George, ASL Aviation Holdings' Head of Procurement. "We are delighted to expand our partnership with AAR to include additional ASL airlines."

"AAR's strategically located warehouses and support teams expedite the delivery of components and reduce maintenance turnaround times for ASL," said Chris Fiddes, AAR's Vice President of Commercial Programs. "We look forward to the expansion of our relationship as ASL grows and modernizes its fleet."

For more information on AAR's flight-hour support, visit https://www.aarcorp.com/en/services/commercial-solutions/flight-hour-support/.

About AAR
AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through four operating segments: Parts Supply, Repair & Engineering, Integrated Solutions, and Expeditionary Services. Additional information can be found at aarcorp.com.

About ASL Aviation Holdings

ASL Aviation Holdings, a global aviation services company with airlines based in Europe, South Africa, Australia and Asia, is a world leader in ACMI airline operations and both scheduled and charter cargo and passenger services.

Headquartered in Dublin, Ireland, ASL's eight airlines include ASL Airlines Ireland, ASL Airlines Belgium, ASL Airlines France, ASL Airlines United Kingdom in Europe and ASL Airlines Australia. ASL also has joint venture and associate airlines, FlySafair in South Africa, K-Mile Asia in Thailand and Quikjet Airlines in India. The group also includes several leasing entities as well as an MRO. The Group has a fleet of 160 aircraft that includes 9 aircraft types ranging from the turbo prop ATR 72 to the Boeing 747.

For more information regarding ASL's services and fleet please visit https://www.aslaviationholdings.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 reflecting management's expectations about future conditions, including expected activities and benefits under the extended and expanded services agreement. Forward-looking statements may also be identified because they contain words such as ''anticipate,'' ''believe,'' ''continue,'' ''could,'' ''estimate,'' ''expect,'' ''intend,'' ''likely,'' ''may,'' ''might,'' ''plan,'' ''potential,'' ''predict,'' ''project,'' ''seek,'' ''should,'' ''target,'' ''will,'' ''would,'' or similar expressions and the negatives of those terms. 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. For a discussion of these and other risks and uncertainties, refer to "Risk Factors" in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. 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.

Contact:
Media Team
Corporate Marketing and Communications
+1-630-227-5100
Editor@aarcorp.com

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SOURCE AAR CORP.