BERKSHIRE, England, Feb. 11, 2020 (GLOBE NEWSWIRE) -- AAR (AIR) - Get Report subsidiary Airinmar, the leading independent global provider of component repair management and new aircraft warranty solutions, has signed a three-year support services agreement with flag carrier Philippine Airlines (PAL).
Working in conjunction with PAL's Aircraft Material Management team, Airinmar will provide a full suite of support services covering both new aircraft warranty and value engineering. The services will supplement PAL's current activities and focus on maximizing the recovery of PAL's new aircraft warranty entitlements and reducing the cost of component repair.
"Safety remains the cornerstone of PAL´s operations. We are pleased to work with Airinmar and appreciate their commitment to provide value engineering support which is vital to meeting PAL´s safety and efficiency goals. We look forward to leveraging their comprehensive engineering knowledge and expertise to help drive down our operational maintenance costs and thereby contribute to our overall sustained improvement goals," stressed Capt. Stanley K. Ng, PAL SVP - Airline Operations Group.
Airinmar's new aircraft warranty management services will cover the identification, claim and recovery of the multiple aircraft warranty entitlements provided by Airbus, Boeing and Bombardier and their suppliers.
Airinmar's value engineering support will provide cost oversight services to assure compliance with PAL's contracted component repairs and minimize component flight-hour out-of-scope repair charges.
"We are committed to working alongside PAL's Material Management team and assisting in reducing maintenance costs across PAL's multiple fleet types." said Peter O'Dea, Airinmar Head of Sales and Business Development. "We are delighted to add PAL, the flag carrier of the Philippines and one of the most established commercial airlines in Asia, to our global customer base."
For more information on Airinmar's industry-leading warranty solutions, click here .
# # #
About AARAAR is a global aerospace and defense aftermarket solutions company that employs more than 6,000 people in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR's Aviation Services include Parts Supply; OEM Solutions; Integrated Solutions; and Maintenance, Repair and Overhaul (MRO) Services. AAR's Expeditionary Services include Mobility Systems and Composite Manufacturing operations. Additional information can be found at www.aarcorp.com.
About AirinmarAirinmar has supported airlines, MROs, OEMs, helicopter operators and military programs for 35 years through the delivery of its tailored component repair and warranty management support services, which deliver reduced repair expenditure, improved component availability and enhance operational efficiencies.
Airinmar is a subsidiary of global aviation aftermarket leader AAR (NYSE: AIR ).
About Philippine AirlinesPhilippine Airlines (PAL) is the flag carrier of the Philippines. Headquartered in Manila, PAL was the first commercial airline in Asia. Operating out of its hubs at Ninoy Aquino International Airport of Manila, Mactan-Cebu International Airport of Cebu, Clark International Airport and Davao International Airport with a fleet of 91 aircraft, PAL serves 31 destinations in the Philippines and over 45 internationally destinations in 23 countries.
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, 2019. 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.
Daniela PietschAAR Corpfirstname.lastname@example.org