GlobeNewswire Inc | Oct 14, 2020 08:40AM EDT

October 14, 2020

BERKSHIRE, England, Oct. 14, 2020 (GLOBE NEWSWIRE) -- AAR (NYSE: AIR) subsidiary Airinmar, the top global independent provider of component repair cycle management and aircraft warranty solutions, signed a new services agreement with European low-fare carrier Wizz Air.

Airinmar will provide a full suite of warranty management services covering airframe, engines and components. The agreement covers the identification, claim and recovery of the multiple airframe, engine and component warranty entitlements provided by Airbus and its suppliers. These services will integrate with Wizz Airs current materials management activities and focus on maximizing the recovery of Wizz Airs warranty entitlements and reducing the cost of aircraft maintenance.

Airinmars services will support us effectively recovering our warranty entitlements and reduce our maintenance spend on our growing fleet of 134 Airbus aircraft. said Wizz Air. With a further 250 aircraft on order, Airinmars delivery of new aircraft warranty cost savings and credit recovery aligns with our strategic goals and growth plan.

We are delighted to expand our services with Wizz Air, Central and Eastern Europes largest ultra-low-cost carrier said Matt Davies, Airinmar General Manager. With a proven track record of already delivering our value engineering services to Wizz Air, we are excited to continue our contribution to Wizz Airs ambitious growth and sustained success over the coming years.

For more information on Airinmars industry-leading warranty solutions, click here.

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About AARAAR 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. AARs Aviation Services include Parts Supply; OEM Solutions; Integrated Solutions; and Maintenance, Repair and Overhaul (MRO) Services. AARs Expeditionary Services include Mobility Systems operations. Additional information can be found at www.aarcorp.com.

About AirinmarAirinmar 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 enhance operational efficiencies. Airinmar is a subsidiary of global aviation aftermarket leader AAR (NYSE:AIR).

About Wizz AirWizz Air, the fastest growing and greenest* European low-cost airline, operates a fleet of 132 Airbus A320 and A321 aircraft. A team of dedicated aviation professionals delivers superior service and very low fares, making Wizz Air the preferred choice of 40 million passengers in the financial year F20 ending 31 March 2020. Wizz Air is listed on the London Stock Exchange under the ticker WIZZ. The company was recently named one of the worlds top ten safest airlines by airlineratings.com, the worlds only safety and product rating agency, and 2020 Airline of the Year by ATW, the most coveted honour an airline or individual can receive, recognizing individuals and organizations that have distinguished themselves through outstanding performance, innovation, and superior service.

* Wizz Airs carbon-dioxide emissions were the lowest among European airlines in FY2019 (57.2 gr/km/passenger)

This press release contains certain statements relating to future results,which are forward-looking statements as that term is defined in the PrivateSecurities Litigation Reform Act of 1995 which reflect management?sexpectations about future conditions. Forward-looking statements may also beidentified 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 expressionsand the negatives of those terms. These forward-looking statements are based onbeliefs of Company management, as well as assumptions and estimates based oninformation currently available to the Company, and are subject to certainrisks and uncertainties that could cause actual results to differ materiallyfrom historical results or those anticipated. For a discussion of these andother risks and uncertainties, refer to ?Risk Factors? in our most recentAnnual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.Should one or more of these risks or uncertainties materialize adversely, orshould underlying assumptions or estimates prove incorrect, actual results mayvary materially from those described. These events and uncertainties aredifficult or impossible to predict accurately and many are beyond the Company?scontrol. The Company assumes no obligation to update any forward-lookingstatements to reflect events or circumstances after the date of such statementsor to reflect the occurrence of anticipated or unanticipated events.



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Daniela PietschAAR Corp+1 630 227 5100editor@aarcorp.com