AAR Continues to Grow Business and Capabilities with Air New Zealand

WOOD DALE, Illinois, November 20, 2017 – AAR (NYSE: AIR), a global leader in aviation services, has committed to significantly increasing the volume of contracted component repairs with Air New Zealand. In a 10-year agreement, AAR designated Air New Zealand’s component center as its Asia Pacific MRO of choice. This is the latest example of AAR’s commitment to grow and strengthen its partnership with Air New Zealand, the country’s flag carrier airline.

After successfully implementing a long-term repair contract signed in January 2017, AAR and Air New Zealand have moved to another level of component repair collaboration, providing both parties with an opportunity for parallel growth. As AAR’s component support agreement customer base has increased, so has the Company’s need for a more global repair network. And Air New Zealand will benefit from AAR’s relationships with other operators.

“With strong OEM relationships and vast airline operational experience, Air New Zealand’s workshops complement AAR’s workshops in Amsterdam and New York,” said Deepak Sharma, President, AAR Integrated Solutions – Commercial. “AAR’s customers from all corners of the globe are now within easy reach of these strategically positioned repair bases.”

“AAR’s large customer base and growing volume of aircraft under component support contract aligns with our goal to develop and grow our component business, which provides significant support to not only the Air New Zealand fleet but to a number of third-party customers as well,” said Air New Zealand Chief Operations Officer Bruce Parton.

“Both parties share core values throughout their organizations, and this is evident in the way the component agreements were developed,” said John Holmes, President & Chief Operating Officer, AAR. “Collaboration, mutual respect and focus on exceeding customer expectations is readily translated to working together to produce high-quality, highly reliable MRO services at a competitive global market cost.”

Early this year, AAR and Air New Zealand signed a significant agreement that establishes a component inventory and repair partnership with AAR in the growing Asia-Pacific region with an AAA-rated carrier. It also marks AAR’s first PBH agreement solely focused on the B777 aircraft, the flagship carrier and international workhorse connecting New Zealand to the rest of the world.