Company Announcements

Wood Dale, Illinois, Oct. 17, 2023 (GLOBE NEWSWIRE) -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, has signed a multi-year contract extension with MTU Maintenance, the global market leader in customized solutions for aero engines, to supply parts for Pratt & Whitney PW2000 engines.

This fourth extension marks the continuation of an AAR-MTU contract that originally began in 2009. Under the agreement, AAR supplies used serviceable material for the PW2000 engine program at MTU’s facility in Hannover, Germany. This partnership significantly streamlines logistical processes and creates cost efficiencies for MTU Maintenance’s customers.

“The last 15 years have shown us that AAR is a reliable partner, which helps us to offer tailor-made and cost-efficient material solutions to our customers,” said Torben Lohse, Director of Purchasing at MTU Maintenance Hannover. “I am looking forward to continuing this successful partnership for years to come.”

“AAR is thrilled to continue supporting valued customer MTU on the PW2000 engines,” said Christine Bognar, AAR’s PW2000 Product Director. “The AAR-MTU relationship is a successful partnership providing mutual benefit, and we look forward to collaborating on the next chapter.”

For more information on AAR products, visit https://www.aarcorp.com/en/products/.

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 which reflect management’s expectations about future conditions, including expected activities and benefits under the 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.