WOOD DALE, Ill. - AAR CORP. (NYSE: NYSE:AIR), an established provider of aviation services, has entered into a multi-year agreement with Cebu Pacific to provide surplus material for CFM56-5B engines, aiming to support the airline's maintenance needs. The deal, announced today, will cover 30 scheduled shop visits for engine maintenance over the contract period.
The collaboration between AAR and Cebu Pacific is expected to yield significant cost savings for the airline by utilizing OEM-approved surplus parts. Shevantha Weerasekera, Vice President for Engineering and Fleet Management at Cebu Pacific, expressed enthusiasm about the partnership, emphasizing the enhanced parts availability and value optimization it promises.
AAR's Senior Vice President of Parts Supply, Sal Marino, also conveyed satisfaction with the expanded relationship with Cebu Pacific. He highlighted the role of AAR's strategic partnership with FTAI Aviation in leveraging surplus materials for the CFM56 engine platform, which will facilitate the airline's cost-effective maintenance operations.
AAR, with a global presence in over 20 countries, offers a broad range of aerospace and defense aftermarket solutions. The company operates through multiple segments, including Parts Supply, which is directly involved in the newly announced agreement.
Cebu Pacific, the Philippines' leading airline, has been a significant player in the aviation industry since its inception on March 8, 1996. Known for its low-cost strategy, the airline has transported over 200 million passengers to date and operates an extensive network in the Philippines and internationally.
The information in this article is based on a press release statement from AAR CORP.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.