WOOD
DALE, Ill., March 20,
2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a
leading provider of aviation services to commercial and government
operators, MROs, and OEMs, has signed a multi-year agreement
to supply surplus material for the CFM56-5B engine to Cebu Pacific.
Under this agreement, AAR will support the 30 CFM56-5B scheduled shop visits Cebu Pacific has planned
for the term of the contract.
"Cebu Pacific is proud to partner with AAR to enhance
availability of parts and maximize value through the use of surplus
material," said Shevantha Weerasekera, Cebu Pacific's Vice
President for Engineering and Fleet Management.
"AAR is pleased to grow our relationship with Cebu Pacific
through this multi-year agreement," said Sal Marino, AAR's Senior Vice President of Parts
Supply. "Leveraging available OEM-approved surplus materials
through our strategic FTAI Aviation partnership on the CFM56 engine
platform will enable Cebu Pacific to realize significant cost
savings during shop visits."
For more information on AAR's engine solutions, visit
https://www.aarcorp.com/en/products/engine-solutions/.
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 Cebu Pacific
Cebu Pacific (CEB), the Philippines' leading airline, entered the
aviation industry on March 8, 1996
and pioneered the "low fare, great value" strategy. It has flown
over 200 million passengers since inception. CEB offers the
widest domestic network in the
Philippines with 35 domestic destinations. It also currently
operates flights to 25 international destinations, spanning across
Asia, Australia, and the Middle East.
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 anticipated activities and benefits under the
new parts supply 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.