AAR (AIR) said Thursday it extended an exclusive serviceable engine products agreement with FTAI Aviation (FTAI) through 2030 for the CFM56 engine material.
The company said the partnership provides used serviceable material inventory to the global aviation aftermarket and supports FTAI's Module Factor.
AAR said it will manage the teardown, repair, marketing, and sales of spare parts from FTAI's 450 CFM56 engines.
AIR shares were 1.2% higher while FTAI shares were edging 0.2% lower in recent premarket activity.
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