Wood Dale, Illinois, July 25, 2022 (GLOBE NEWSWIRE) -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced the implementation of Airvolution® — AAR’s customizable, cloud-based, end-to-end repair cycle management (RCM) tool focused on optimizing the administration of aircraft component repairs — at Textron Aviation Defense.
Airvolution® was designed by AAR to meet the demands and challenges of the aviation supply chain by enhancing aviation repair teams’ management efficiencies, reducing operational costs, maximizing productivity, improving component availability, and streamlining supplier performance management.
“Airvolution® incorporates AAR’s decades of industry expertise into an easy-to-use SaaS platform,” said Matt Kammerait, AAR’s Vice President, Strategy, Planning, and Innovation. “Textron Aviation Defense is an industry leader with a well-known track record for innovation. They were a natural fit for our product launch.”
Textron Aviation Defense LLC — a wholly owned subsidiary of Textron Aviation Inc., a Textron Inc. (NYSE:TXT) company — will rely on Airvolution® to supplement and modernize current workflows for its repair orders. Textron Aviation Defense will leverage such features as straightforward quote processing, enhanced reporting and data analytics, standardized order management, and comprehensive repair status communications with end-customers and suppliers.
“The launch of Airvolution® is the most recent example of AAR’s focus on developing digital technologies to increase efficiencies and decrease operational costs of our customers,” said Rahul S. Ghai, AAR’s Chief Digital Officer. “Implementation of this product with Textron Aviation Defense demonstrates AAR’s commitment to helping our customers better achieve their goals by providing cutting-edge applications, and we look forward to offering the product to AAR’s other customers and end users.”
For more information on AAR’s Airvolution® tool, visit aarcorp.com/airvolution/.
About AAR
AAR 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 two operating segments: Aviation Services and Expeditionary Services. AAR’s Aviation Services include Parts Supply; OEM Solutions; Integrated Solutions; and Maintenance, Repair, and Overhaul (MRO) Services. AAR’s Expeditionary Services include Mobility Systems operations. Additional information can be found at aarcorp.com.
| This press release contains 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 which reflect management’s expectations about future conditions, including the continued focus on developing digital technologies to increase efficiencies and decrease operational costs of our customers, AAR’s ability to commit to helping our customers better achieve their goals by providing cutting-edge applications, and to offering the product to AAR’s other customers and end users. 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 Company management, as well as assumptions and estimates based on information currently available to the Company, 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 our 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 the Company’s control. The Company 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. |
