AAR Signs Component Support Agreement with VivaColombia and Viva Air Peru
AAR (NYSE: AIR) expands its global footprint by signing a multi-year component support agreement with VivaColombia and Viva Air Peru. AAR will provide pool support to affiliate airlines within the Viva LatinAmerica group, including VivaColombia, Colombia's first low-cost carrier, and the newly established low-cost carrier Viva Air in Peru. AAR will make inventory available from its facilities in Miami and Chicago, as well as positioning stock in Bogota, Medellin and Lima.
"Our individualized cost-per-flight-hour programs are providing real-time support for our growing clientele all over the world," says Deepak Sharma, president, International Supply Chain, AAR. "We are excited to add South American airlines to our portfolio of more than 1,300 aircraft under contract."
"We are proud to allow millions of Latin Americans to take their first airline flight or travel by air more frequently," says William Shaw, founder and CEO of VivaColombia and Viva Air Peru. "We are excited to begin working with AAR to help continue to provide affordable air travel in the region."
"This contract is the latest example of how AAR's flight-hour support programs are a perfect fit for fast-growing airlines in emerging markets, in addition to established carriers in major markets," says John Holmes, president and chief operating officer, AAR. "We use our capital, buying power and experience in component support on behalf of our partners, so they can focus on cost-effective operations and expansion."
VivaColombia and Air Peru are part of the Irelandia Aviation group, the world's premier low-cost airline developer, led by Declan Ryan, one of the founders of Ryanair. Irelandia has successfully developed 6 LCCs around the world, namely Ryanair, Allegiant, Tigerair, Viva Aerobus, VivaColombia and Viva Air Peru, which, combined, have a fleet of over 420 aircraft and have carried more than 1 billion passengers to date.