Aveos signs five-year Engine Maintenance Agreement with AerCap

Agreement further underscores the company's long-term, global growth strategy

MONTREAL, Sept. 23 /PRNewswire/ - Aveos Fleet Performance Inc. is pleased to announce that it has signed a five (5) year General Terms Agreement (GTA) for engine maintenance with AerCap, a global aviation company headquartered in The Netherlands. Beginning in August 2010, this agreement includes the maintenance, repair, overhaul and related services for the operator's CFM56 engines.

As a global aviation company that, among other things, leases aircraft and engines, AerCap has international offices and customers, or "lessees", all over the world. These lessees get direct access to Aveos' world-class maintenance facility and the competitive pricing negotiated with AerCap. AerCap also benefits from the peace of mind that the engines have been maintained to the highest quality standards.

"We are very pleased to partner with AerCap. This agreement creates value for both organizations, builds on our strategy to develop winning partnerships globally and opens the door to a new market for Aveos," highlighted Jim Andrews, Vice President and General Manager, Engine Solutions.

Joe Venuto, Senior Vice President Operations of AerCap said: "AerCap is very excited to work with Aveos. Aveos has a tremendous amount of experience and is recognized as a world class engine MRO organization."

"We have a strong and established track record for the CFM56 family of engines, with over 20 years expertise and 700 CFM engines serviced," continued Jim Andrews. "Our Engine Solutions business is a centre of excellence that delivers quality services, and our agreement with AerCap is a testament to our reputation."

About Aveos

Aveos is a full-service maintenance, repair and overhaul (MRO) provider of airframe, engine, component and maintenance solutions. From maintenance facilities across Canada and in El Salvador, we provide integrated service solutions to over 100 customers, while focusing on building a robust network of strategic alliances. Approximately 4,150 employees remain committed to a tradition of providing world-class quality and expertise to customers across the Americas. To learn more, visit aveos.com.

About AerCap

AerCap is the world's leading independent aircraft leasing company. AerCap also provides engine leasing, aircraft management services, aircraft maintenance, repair and overhaul services and aircraft disassemblies. AerCap has a fleet of 327 aircraft and 87 commercial engines that were either owned, on order, under contract or letter of intent, or managed. AerCap is headquartered in The Netherlands and has offices in Ireland, the United States, China and the United Kingdom. To learn more, visit aercap.com.

SOURCE AVEOS FLEET PERFORMANCE INC.

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