AAR Corp. (NYSE:AIR) has signed a multi-year contract extension with MTU Maintenance, solidifying their commitment to supply parts for Pratt & Whitney PW2000 engines.
This marks the fourth extension of a partnership that commenced in 2009. Under the agreement, AAR will provide used serviceable material for the PW2000 engine program at MTU’s facility in Hannover, Germany.
The collaboration aims to enhance logistical efficiency and cost savings for MTU Maintenance’s customers.
Christine Bognar, AAR’s PW2000 Product Director, said, “The AAR-MTU relationship is a successful partnership providing mutual benefit, and we look forward to collaborating on the next chapter.”
Price Action: AIR shares traded higher by 2.03% at $59.65 on the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was Reviewed And Published By Benzinga Editors.
