WOOD DALE, Ill., April 28, 2011 /PRNewswire/ -- AAR (NYSE: AIR) announced today that it has partnered with Gulf Technics to provide an integrated supply chain and component repair solution for Gulf Air, the national carrier of the Kingdom of Bahrain. Work on the five-year program commenced in April 2011.
The partnership will combine parts supply, component repair, distribution, information technology, and logistics capabilities to help Gulf Air cost-effectively and safely operate its Airbus fleet. AAR and Gulf Technics will manage the rotable components supply chain for fourteen A320, ten A330 and four A340 aircraft.
In addition to the rotable program, AAR and Gulf Technics (GT) are exploring a joint supply chain and component repair capability, outlined in an LOA signed by both companies in March 2011.
"This program builds upon the excellent relationship AAR and GT have established with Gulf Air in support of their operations and will leverage our extensive planning, inventory management, technical and testing capabilities," said John Holmes, Division President, AAR Allen Asset Management. "As we focus on executing the program, we are also working closely with GT to develop a joint supply chain and component repair capability to serve Gulf Air, as well as other Airbus operators in the Middle East and North Africa."
"GT is equally excited by this achievement. We strive to provide a fantastic program for Gulf Air and Bahrain. The partnership with AAR will bring direct benefit to Gulf Air, as well as to the economy and technical sector in Bahrain. This program is only the launch pad for a greater endeavor to establish a competitive aviation asset management hub in Bahrain," said Ahmed Elnenaey, Head of Research and Business development at GT.
AAR is a leading provider of products and value-added services to the worldwide aerospace and government and defense industries. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve aviation and government and defense customers through four operating segments: Aviation Supply Chain; Government and Defense Services; Maintenance, Repair and Overhaul; and Structures and Systems. More information can be found at www.aarcorp.com.
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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 May 31, 2010 Form 10-K. 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.