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AAR signs new component repair agreement with Cebu Pacific

1. AAR signs multi-year agreement for nacelle services with Cebu Pacific. 2. Contract enhances AAR's presence in the APAC region's aviation market. 3. Cebu Pacific values AAR's competitive maintenance and turnaround times. 4. AAR's partnership includes engine material supply and warranty management. 5. AAR operates in over 20 countries, supporting diverse aviation needs.

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FAQ

Why Bullish?

The contract indicates robust demand for AAR's services, likely boosting financial performance, similar to past contracts with major airlines.

How important is it?

The strategic partnership strengthens AAR's market position, indicating a positive outlook for future contracts.

Why Long Term?

The multi-year nature of the agreement suggests sustained revenue growth over an extended period.

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CEBBALMTNOC
, /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced a multi-year agreement to provide Cebu Pacific Air with nacelle maintenance, repair, and overhaul services for the airline's A320 fleet powered by the CFM56-5B engine. This work will be performed at AAR's Component Services facility in Chonburi, Thailand. AAR’s Jim Berberet and Cebu Pacific Air’s Shev Weerasekera meet for a signing ceremony. AAR's longstanding relationship with Cebu Pacific includes supplying USM engine material for the airline's CFM56-5B engine overhauls and providing warranty management and repair cost oversight services through AAR subsidiary Airinmar. "We are extremely pleased to be continuing our partnership with AAR. They share our values on maintenance quality and turnaround time, provided at a very competitive rate," said Shev Weerasekera, VP of Engineering and Fleet Management for Cebu Pacific Air. "We're proud to expand our relationship with Cebu Pacific Air through this component repair agreement, where we will provide innovative and timely solutions for their CFM56-5B nacelles," said Jim Berberet, AAR's Senior Vice President of Component Services. "This agreement reflects the strong confidence that operators have in our cost-effective service offerings in the APAC region." For more information on AAR's Component Services, part of the Company's Repair & Engineering segment, visit https://www.aarcorp.com/en/services/component-services/.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 four operating segments: Parts Supply, Repair & Engineering, Integrated Solutions, and Expeditionary Services. Additional information can be found at aarcorp.com.About Cebu PacificCebu Pacific (CEB), the Philippines' leading airline, entered the aviation industry on March 8,1996 and pioneered the "low fare, great value" strategy, and has flown over 200 million passengers since inception. CEB offers the widest domestic network in the Philippines with 35 domestic destinations. It also currently operates flights to 25 international destinations, spanning across Asia, Australia, and the Middle East.This press release may contain 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 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 management, as well as assumptions and estimates based on information currently available to management 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 AAR CORP.'s 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 management's control. Management 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+1-630-227-5100[email protected]SOURCE AAR CORP. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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