WOOD DALE, Ill., April 11, 2017 /PRNewswire/ -- AAR (NYSE: AIR) announces it has been awarded a multi-year component support contract from ASL Aviation Holdings. The new contract for power-by-the-hour support for ASL Group's airlines includes component support and repair for approximately 100 passenger and cargo aircraft, including ATR aircraft. AAR will support the contract with inventory purchased from ASL subsidiary ACLAS Global, which will be incorporated into AAR's existing global supply chain network located in Brussels, Hannover and Singapore. A new ATR team will be based in the UK to serve ATR customer parts requirements globally. The ATR is a leading regional aircraft with more than 1,300 delivered to operators across the globe.
"This new award, along with the acquisition of the ACLAS ATR inventory, allows our industry-leading supply chain business to expand its reach into the ATR market," said John Holmes, AAR Chief Operating Officer of Aviation Services.
"By aggregating PBH support for ASL Group airlines under one provider, we can streamline our maintenance, create efficiencies and focus on operations," said ASL Aviation Holdings Chief Executive Hugh Flynn. "AAR was a good fit because of their global component support structure that will provide the same level of service across all our bases and line stations."
AAR is a global aftermarket solutions company that employs more than 4,500 people in over 20 countries. Based in Wood Dale, Illinois, AAR supports commercial aviation and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR's Aviation Services include inventory management; parts supply; OEM parts distribution; aircraft maintenance, repair and overhaul; and component repair. AAR's Expeditionary Services include airlift operations; mobility systems; and command and control centers in support of military and humanitarian missions. More information can be found at www.aarcorp.com.
About ASL Aviation Holdings
ASL Aviation Holdings, formerly ASL Aviation Group, currently has operations during every year on all 7 continents and has 2,500 staff from 51 nationalities in 20 countries. A global leader in the provision of ACMI services to the express freight integrator and postal industries, ASL also operates passenger flights on an ACMI basis and under its own brands. The Group has 6 airlines in Europe and both passenger and cargo airlines in South Africa and Asia including the world's largest fleet of commercial Hercules aircraft operating humanitarian services for the United Nations World Food programme and the International Red Cross. Further information at 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. 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, 2016. 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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