AAR (NYSE: AIR) has entered into a long-term contract with Air New Zealand to provide nose-to-tail, cost-per-flight hour inventory support covering 740 parts and 15 of the airline´s B777 aircraft, the company said.
The company said under reciprocal terms of the agreement, Air New Zealand will become AAR´s exclusive component repair provider for selected parts in the Asia-Pacific region and preferred supplier for selected parts worldwide.
This contract establishes a component inventory and repair partnership for AAR in the Asia-Pacific region with an AAA-rated carrier. It also marks AAR´s first PBH agreement solely focused on the B777 aircraft, a carrier that connects New Zealand to the rest of the world.
AAR is a global aftermarket solutions company that employs more than 4,500 people in over 20 countries. AAR supports commercial aviation and government customers through aviation and expeditionary services.