Aviation services provider AAR has signed an extension of its exclusive serviceable engine products agreement for the CFM56 used serviceable material (USM) partnership with FTAI Aviation through 2030.
AAR will manage the teardown, repair, marketing, and sale of spare parts from FTAI's CFM56 engine pool totalling over 450 engines and growing.
The original agreement was signed in 2020. Since then, AAR has acquired five additional global component repair facilities, which will enable it to support the larger pool of engines.
“The demand for this industry-leading engine platform continues to grow, and our collaboration supports the needs of the global aviation aftermarket,” said AAR's chairman president and CEO John Holmes.
FTAI Aviation CEO and chairman Joe Adams commented: “This extension underscores our shared commitment to provide cost-effective maintenance solutions that improve efficiency and lower costs per cycle for airlines worldwide.”