Berkshire, England, Sept. 29, 2022 (GLOBE NEWSWIRE) -- AAR (NYSE: AIR) subsidiary Airinmar, a leading independent provider of component repair cycle management and aircraft warranty solutions, signed a new services agreement with Philippines-based low-cost carrier Cebu Pacific.
Airinmar will provide Cebu Pacific with a full suite of support services covering both aircraft warranty management and value engineering. Warranty management services will include the identification, claim, and recovery of the multiple airframe, engine, and component warranty entitlements provided by airframe manufacturers and their suppliers. Value engineering services will include cost oversight to ensure compliance with Cebu's contracted component repairs and to minimize component out-of-scope flight-hour repair charges. The services provided by Airinmar will complement Cebu's current materials management activities and will focus on maximizing the recovery of Cebu's warranty entitlements and reducing the cost of component repair.
"Airinmar's well regarded warranty management and value engineering services and ability to deliver cost savings and credit recovery will support effective management of our maintenance spend as we expand our fleet of aircraft," said Shevantha Weerasekera, Senior Advisor / Vice President, Engineering and Maintenance for Cebu. "Airinmar's ability to customize its solutions to our business needs will enable us to relentlessly pursue new ideas and better solutions."
"We are proud to provide Airinmar services and look forward to delivering results to Asia's oldest low-cost carrier," said Matt Davies, General Manager of Airinmar. "With 77 aircraft in service and a further 49 on order, we are excited to contribute to Cebu Pacific's growth and success over the coming years."
For more information on Airinmar's industry-leading solutions, visit aarcorp.com/airinmar/.
About Airinmar
Airinmar has supported airlines, MROs, OEMs, helicopter operators, and military programs for more than 35 years through the delivery of its tailored component repair and warranty management support services, which deliver reduced repair expenditure, improved component availability, and enhanced operational efficiencies. Airinmar is a subsidiary of global aviation aftermarket leader AAR.
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.
About Cebu Pacific
Cebu Pacific.
| 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. 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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