Airinmar signs multi-year extension of aircraft warranty management and value engineering services with Cebu Pacific
Rhea-AI Summary
AAR CORP (NYSE:AIR) subsidiary Airinmar has extended its multi-year support services agreement with Philippines-based low-cost carrier Cebu Pacific. The extension continues the full suite of services provided since 2022, including aircraft warranty management and value engineering.
The partnership aims to maximize warranty entitlements recovery and reduce component repair and maintenance costs for Cebu Pacific's fleet of 100 aircraft, with over 100 additional aircraft on order. The services complement Cebu Pacific's existing materials management activities, supporting the airline's fleet expansion strategy.
Positive
- Service agreement extension demonstrates successful partnership and client satisfaction
- Supporting Cebu Pacific's significant fleet expansion from 100 to 200+ aircraft
Negative
- None.
News Market Reaction – AIR
On the day this news was published, AIR declined 1.31%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
This agreement is a continuation of the full suite of support services – covering both aircraft warranty management and value engineering – that Airinmar has provided to Cebu Pacific since 2022.
Airinmar's services complement Cebu Pacific's current materials management activities and focus on maximizing the recovery of the airline's warranty entitlements as well as reducing the cost of component repair and the airline's overall cost of maintenance.
"Airinmar's highly regarded warranty management and value engineering services and ability to deliver cost savings and credit recovery have supported us with effective management of maintenance spend as we have expanded our fleet of aircraft," said Shevantha Weerasekera, Cebu Pacific's Vice President for Engineering and Fleet Maintenance. "Airinmar's ability to customize its solutions to our business needs enables us to relentlessly pursue new ideas and better solutions."
"Airinmar is pleased to continue bringing value to Cebu Pacific through our well-proven value engineering and warranty management services," said Matt Davies, Airinmar's General Manager. "Cebu Pacific has reached a fleet of 100 aircraft with 100+ additional aircraft on order, and we take great pride in supporting the airline through its ongoing growth."
For more information on Airinmar's industry-leading services, visit https://www.airinmar.com/.
About Airinmar
Airinmar has supported airlines, MROs, OEMs, helicopter operators, and military programs for over 40 years through the delivery of its tailored component repair and warranty management support services, which deliver reduced repair expenditure, improved component availability, and enhanced operational efficiencies. Airinmar is a subsidiary of global aviation aftermarket leader AAR. Additional information can be found at https://www.airinmar.com/.
About AAR
AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the
About Cebu Pacific
Cebu Pacific entered the aviation industry in March 1996 and as a low cost-carrier, it pioneered the "low fare, great value" strategy. Since its inception, it has flown over 250 million passengers. CEB offers the widest network coverage in
This press release may contain 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 anticipated activities and benefits under the extension. 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 management, as well as assumptions and estimates based on information currently available to management 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 AAR CORP.'s 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 management's control. Management 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
+1-630-227-5100
Editor@aarcorp.com
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SOURCE Airinmar
FAQ
What services will Airinmar provide to Cebu Pacific under the extended agreement?
How many aircraft does Cebu Pacific currently operate and have on order?
When did Airinmar first begin providing services to Cebu Pacific?
How will this extension benefit Cebu Pacific's operations?
