GlobeNewswire Inc | Sep 21, 2021 04:02PM EDT

September 21, 2021

Wood Dale, Sept. 21, 2021 (GLOBE NEWSWIRE) -- AAR (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs and OEMs, announced today the extension of its power-by-the-hour (PBH) component support contract with Volotea. The partnership started in 2016 with four A319 aircraft and the fleet has grown now to nearly 40 aircraft today.

The agreement includes the positioning of Main Base Kits at Voloteas operating bases throughout Europe, access to AARs component pool inventory from logistic centers in Europe and the management of the component repair cycle.

Following a selection process that prioritized value and reliability, we are excited to confirm AAR as the provider for component services for our fleet of A320 family aircraft. We look forward to having AAR in support of the next phase of our growth, said Isidre Porqueras, Volotea COO.

We are honored to extend this successful partnership with Volotea. Our proven ability to provide European component and logistic support across Volotea's rapidly evolving and growing network of 17 operating bases and operations to over 100 cities was key to this extension, said Nicholas Gross, AAR Vice President Integrated Solutions.

To learn more about AARs Integrated Solutions, please visit https://www.aarcorp.com/integrated-solutions/commercial-solutions/.

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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 Volotea

Volotea was founded in 2011 by Carlos Munoz and Lzaro Ros, previously founders of Vueling, is one of the fastest-growing independent airlines in Europe, increasing year-on-year its fleet, routes served, and seats offered. Since its start, Volotea has carried more than 35 million passengers across Europe.

Volotea is based in 17 European small and mid-sized cities and operated an all Airbus A320F fleet of 40 aircraft in summer 2021 versus 36 in 2019. In terms of volume, Volotea and has increased its seat capacity by up to 111% compared to summer 2019. It employs over 1,350 staff across Europe and was the most active airline in Summer 2020 among its main competitors in activity, seat-load factor, operational levels and customer satisfaction.

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, including the Company?s proven ability toprovide pan-European component and logistic support across Volotea's rapidlyevolving and growing network of 17 operating bases and operations to over 100cities. Forward-looking statements may also be identified because they containwords 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, aswell as assumptions and estimates based on information currently available tothe Company, and are subject to certain risks and uncertainties that couldcause actual results to differ materially from historical results or thoseanticipated. For a discussion of these and other risks and uncertainties, referto ?Risk Factors? in our most recent Annual Report on Form 10-K and subsequentQuarterly Reports on Form 10-Q. Should one or more of these risks oruncertainties materialize adversely, or should underlying assumptions orestimates prove incorrect, actual results may vary materially from thosedescribed. These events and uncertainties are difficult or impossible topredict accurately and many are beyond the Company?s control. The Companyassumes no obligation to update any forward-looking statements to reflectevents or circumstances after the date of such statements or to reflect theoccurrence of anticipated or unanticipated events.

Daniela PietschAAR Corp+16302275100editor@aarcorp.com