AAR extends relationship with Volotea for A320 family PBH component support
AAR (NYSE: AIR) has extended its power-by-the-hour (PBH) component support contract with Volotea, which began in 2016. The partnership has grown from four A319 aircraft to nearly 40 A320 family aircraft. The new agreement will enhance logistics and support operations across Volotea's 17 European bases, ensuring efficient component repair cycles and inventory access. Volotea's COO emphasized the value and reliability of AAR’s services, while AAR’s VP noted their capability to support Volotea’s expansive growth across over 100 cities in Europe.
- Contract extension with Volotea strengthens AAR's revenue stream.
- Growth from 4 to nearly 40 aircraft indicates increased business volume.
- Enhanced logistic support across 17 European bases improves operational efficiency.
- None.
Wood Dale, Sept. 21, 2021 (GLOBE NEWSWIRE) -- AAR (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs and OEMs, announced today the extension of its power-by-the-hour (PBH) component support contract with Volotea. The partnership started in 2016 with four A319 aircraft and the fleet has grown now to nearly 40 aircraft today.
The agreement includes the positioning of Main Base Kits at Volotea’s operating bases throughout Europe, access to AAR’s component pool inventory from logistic centers in Europe and the management of the component repair cycle.
“Following a selection process that prioritized value and reliability, we are excited to confirm AAR as the provider for component services for our fleet of A320 family aircraft. We look forward to having AAR in support of the next phase of our growth,” said Isidre Porqueras, Volotea COO.
“We are honored to extend this successful partnership with Volotea. Our proven ability to provide European component and logistic support across Volotea's rapidly evolving and growing network of 17 operating bases and operations to over 100 cities was key to this extension,” said Nicholas Gross, AAR Vice President Integrated Solutions.
To learn more about AAR´s Integrated Solutions, please visit https://www.aarcorp.com/integrated-solutions/commercial-solutions/.
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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 www.aarcorp.com.
About Volotea
Volotea was founded in 2011 by Carlos Munoz and Lázaro Ros, previously founders of Vueling, is one of the fastest-growing independent airlines in Europe, increasing year-on-year its fleet, routes served, and seats offered. Since its start, Volotea has carried more than 35 million passengers across Europe.
Volotea is based in 17 European small and mid-sized cities and operated an all Airbus A320F fleet of 40 aircraft in summer 2021 versus 36 in 2019. In terms of volume, Volotea and has increased its seat capacity by up to
| 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 the Company’s proven ability to provide pan-European component and logistic support across Volotea's rapidly evolving and growing network of 17 operating bases and operations to over 100 cities. 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. |
FAQ
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