AAR announces marketing partnership agreement with ProvenAir Technologies, LLC
AAR CORP. (NYSE: AIR) announced a marketing partnership with ProvenAir Technologies to enhance digital solutions for aviation customers. This partnership focuses on automating the back-to-birth (BtB) trace history of life limited parts, aiming to improve records quality, save time, and increase the value of used serviceable materials. With ProvenAir's technology, AAR intends to connect aircraft owners with efficient digital solutions, further differentiating their offerings in the market.
- Strategic partnership with ProvenAir to improve digital solutions for customers.
- Automation of the BtB trace process to enhance efficiency and accuracy.
- Potential to increase residual value of used serviceable materials.
- None.
Wood Dale, Illinois, April 26, 2022 (GLOBE NEWSWIRE) -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, has signed a marketing partnership agreement with ProvenAir Technologies, LLC to enhance the digital solutions available to AAR customers.
ProvenAir’s digital solution leverages advanced technologies to analyze and dynamically generate back-to-birth (BtB) trace history for life limited parts. ProvenAir automates the BtB process to save aviation customers time, increase records quality, shorten the sales cycle, ease aircraft transitions, and increase the residual value of used serviceable material.
“ProvenAir’s mission is to redefine service in the aviation industry through innovation and technology. We make an impact by digitizing and automating a cumbersome manual process,” said James Boccarossa, ProvenAir Founder and CEO. “By partnering with AAR, one of the world’s top MROs and parts suppliers, we will be able to reach more customers and help those customers realize their digitization goals.”
“AAR continues to focus on digital solutions that enhance and differentiate our offerings. We are impressed by ProvenAir’s technology and have been able to realize internal efficiencies from utilizing ProvenAir for our own Parts Supply and Landing Gear needs,” said Rahul S. Ghai, AAR Chief Digital Officer. “Leveraging our global sales team to connect aircraft owners and operators with ProvenAir for the benefit of our customers is a natural progression of our relationship.”
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 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 operations. Additional information can be found at aarcorp.com.
About ProvenAir
ProvenAir is a technology company with a service platform that, with the click of a mouse, dynamically generates consistent, easy to follow, back-to-birth trace insights for life limited material. The ProvenAir system uses proprietary algorithms and advanced technology to scan, digitize, and categorize maintenance records, precisely interpret life limited part usage, and create historical trace timelines and exception reports for assemblies, sub-assemblies, or individual parts. Additional information can be found at provenair.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 ProvenAir’s expectation to redefine service in the aviation industry through innovation and technology, to make an impact by digitizing and automating a cumbersome manual process, and to be able to reach more customers and help those customers realize their digitization goals, and the Company’s ability to focus on digital solutions that enhance and differentiate our offerings, to continue to realize internal efficiencies from utilizing ProvenAir’s technology, and the Company’s expectation that leveraging our global sales team to connect the aircraft owners and operators with ProvenAir for the benefit of our customers will result in a natural progression of our relationship. 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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