24 June 2014
AAR (NYSE: AIR) said it has become the first aviation company to land a multi-year deal under the Obama administration´s “Doing Business in Africa” initiative.
AAR is announcing a five-year multi-million dollar agreement with Kenya Airways to provide power-by-the-hour component support for its fleet of 737NG aircraft. AAR will place inventory on site in Nairobi while offering additional rotable pool support from its newly established supply chain hub in Brussels.
With assistance from US Department of Commerce leadership and staff in Washington, D.C., Chicago, and the US Embassy in Kenya, AAR´s top executives were able to connect with key government and business officials beginning last year during a visit to Nairobi, Kenya; meet legal requirements; establish business protocols; and cultivate relationships.
Doing Business in Africa, first announced in December 2012, was designed to close the opportunity gap between American business and emerging markets in Africa, home to seven of the fastest-growing economies in the world.
AAR is a global aerospace and defense contractor that employs more than 6,000 people in 17 countries. Based in Wood Dale, Illinois, AAR supports commercial, government and defense customers through two operating segments: aviation services and technology products. More information can be found at www.aarcorp.com.