Press release
AAR and FTAI Aviation extend their exclusive Serviceable Engine Products agreement, providing CFM56 engine material to the global aviation aftermarket through 2030
WOOD DALE, Ill., March 27, 2025 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs,
About this update from Ftai Aviation Ltd.
[{"type":"text","content":"WOOD DALE, Ill., March 27, 2025 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, has signed an extension of its exclusive Serviceable Engine Products agreement for the CFM56 used serviceable material (\"USM\") collaboration with FTAI Aviation Ltd. (Nasdaq: FTAI) through 2030.\n\n \n \n \n \n \n \n\n \n\"AAR is proud to be the exclusive service provider for this agreement with FTAI,\" said John M. Holmes.The collaboration has made USM inventory available to the global aviation aftermarket and FTAI's consumption at the Module Factory™, a dedicated commercial maintenance center focused on modular repair and refurbishment of CFM56-7B and CFM56-5B engines. Through its worldwide network, AAR will manage the teardown, repair, marketing, and sales of spare parts from FTAI's CFM56 engine pool totaling over 450 engines and growing.\nSince signing the original agreement in 2020, AAR expanded its Component Services footprint through the acquisition of five additional global component repair facilities. The additional capabilities enable AAR to support the maintenance, repair, and overhaul of a larger pool of engine components in support of this program.\n\"AAR is proud to be the exclusive service provider for this agreement with FTAI. The demand for this industry-leading engine platform continues to grow, and our collaboration supports the needs of the global aviation aftermarket,\" said John M. Holmes, AAR's Chairman, President and CEO. \"AAR is pleased to combine our strong reputation for engine USM offerings, Component Services capabilities, and global sales team with FTAI's market position through 2030.\"\nJoe Adams, Chairman and Chief Executive Officer of FTAI Aviation, commented on the extended agreement, saying: \"We are delighted to continue our strong relationship with AAR through 2030, delivering significant value to the CFM56 aftermarket. This extension underscores our shared commitment to provide cost-effective maintenance solutions that improve efficiency and lower costs per cycle for airlines worldwide.\"\nFor more information on AAR's engine solutions, visit https://www.aarcorp.com/en/products/engine-solutions/.\nAbout AARAAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered i...