Airinmar signs extension of aircraft warranty and value engineering services with Philippine Airlines

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Feb 21, 2024, 17:30 ET

BERKSHIRE, England, Feb. 21, 2024 /PRNewswire/ -- AAR (NYSE: AIR) subsidiary Airinmar, a leading independent provider of component repair cycle management and aircraft warranty solutions, has signed a multi-year support services extension with Philippine Airlines (PAL).

Working in conjunction with PAL's Aircraft Material Management team, Airinmar will provide a full suite of support services covering both aircraft warranty and value engineering. The services will supplement PAL's current activities and continue building on the successful recovery of the Philippine flag carrier's aircraft warranty entitlements and reducing the cost of component repair.

"Since we implemented Airinmar's services at the start of 2020, Airinmar has been a trusted partner. We appreciate their commitment to value engineering and solid warranty management, which has contributed to meeting Philippine Airlines' safety and efficiency goals," said Alvin Kendrich Limqueco, PAL SVP – Supply Chain Management Group. "We will continue to leverage Airinmar's comprehensive engineering knowledge and expertise to help drive down PAL's operational maintenance costs and thereby contribute to our overall sustained improvement goals."

Airinmar's value engineering support will continue to deliver cost savings through supplier compliance with PAL's contracted component repairs and minimize component flight-hour out-of-scope repair charges.

Airinmar's aircraft warranty management services cover the identification, claim, and recovery of the multiple aircraft warranty entitlements provided by Airbus, Boeing, and de Havilland and their suppliers.

"We are delighted to extend our successful relationship with PAL and continue working alongside their Aircraft Material Management team to reduce maintenance costs across PAL's multiple fleet types," said Matt Davies, Airinmar's General Manager. "We are excited to be part of PAL's growth strategy as their fleet expands with new aircraft deliveries in the coming years."

For more information on Airinmar's industry-leading services, visit https://www.airinmar.com/.

About Airinmar
Airinmar 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 enhanced operational efficiencies. Airinmar is a subsidiary of global aviation aftermarket leader AAR (NYSE: AIR). Additional information can be found at https://www.airinmar.com/.

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 four operating segments: Parts Supply, Repair & Engineering, Integrated Solutions, and Expeditionary Services. Additional information can be found at aarcorp.com.

About Philippine Airlines
Philippine Airlines (PAL) is the Philippines' flag carrier and only full-service network airline, as well as the first commercial airline in Asia. PAL's fleet of Boeing, Airbus, and De Havilland aircraft operate scheduled nonstop flights out of hubs in Manila, Cebu, Clark, and Davao to 33 destinations in the Philippines and 39 destinations in Asia, North America, Australia, and the Middle East. Known for its hallmark heartwarming and gracious Filipino service, PAL also supports the global economy through air cargo and charter services, while serving the travel needs of overseas Filipinos as well as businesspeople, tourists and families from all over the world.

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, reflecting management's expectations about future conditions, including anticipated activities and benefits under the extended support services agreement. 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

Contact:
Media Team
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+1-630-227-5100
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SOURCE Airinmar