SCHIPHOL-RIJK (dpa-AFX) - AAR Corp. (AIR), an aviation aftermarket solutions provider, announced that it has signed a multi-year radome repair agreement with Airbus Avionics, an aerospace systems business of Airbus SE (AIR.PA).
The agreement includes repair services for all radome models in Airbus's portfolio.
Under the contract, AAR will become an Airbus-approved repair station in the Asia-Pacific region, excluding China, authorized to perform repairs on radomes installed on Airbus commercial aircraft.
The deal expands AAR's existing Airbus-approved repair capabilities, which include structures and components such as sharklets, elevators, rudders and slats.
AAR said the agreement builds on its decade-long relationship with Airbus and strengthens its component maintenance, repair and overhaul services across the Asia-Pacific region.
The company expects the expanded capabilities to support the growing aircraft fleet in the region and strengthen its position as a provider of proprietary repair services.
On the New York Stock Exchange, shares of AAR closed Monday's trading 6.79 percent higher at $116.62.
In Paris, shares of Airbus traded 4.89 percent higher on Monday and closed at 206.0 euros.
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