AAR awarded five-year contract to perform airframe maintenance for U.S. Navy's P-8A Poseidon fleet
PRNewswire 23-Sep-2024 8:00 AM
WOOD DALE, Ill., Sept. 23, 2024 /PRNewswire/ -- AAR CORP. (NYSE:AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, has been awarded a five-year indefinite delivery / indefinite quantity contract with an aggregate ceiling value of approximately $1.2 billion by the U.S. Navy's Naval Air Systems Command (NAVAIR) to perform P-8A Poseidon depot airframe maintenance and depot field team support for the U.S. Navy, government of Australia, and foreign military sales (FMS) customers.
"Our rapid deployment teams provide on-demand expertise anywhere in the world," said Nicholas Gross.
This follow-on contract continues AAR's strategic partnership supporting NAVAIR. AAR will provide scheduled and unscheduled maintenance, in-service repair, technical directive incorporation, airframe modifications, and aircraft-on-ground (AOG) support.
This contract retains AAR's position as a leader of commercial derivative airframe maintenance for the U.S. Department of Defense and supports the Navy's readiness through the repair of the P-8A Poseidon.
"AAR is pleased to continue our longstanding partnership with NAVAIR and honored to be the prime provider supporting this critical fleet," said Nicholas Gross, AAR's Senior Vice President of Integrated Solutions. "Our rapid deployment teams provide on-demand expertise anywhere in the world."
For more information on AAR's government solutions, visit https://www.aarcorp.com/en/services/government-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.
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 five-year contract. 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.
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SOURCE AAR CORP.
