Wood Dale, Illinois, July 17, 2023 (GLOBE NEWSWIRE) -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, has named Andrew Schmidt its Senior Vice President of AAR Digital Services and Trax.
Schmidt will work closely with the Trax founders and their leadership team to scale the Trax business by growing the customer base, enhancing customer support, and expanding product offerings through digital innovation. He will help to execute the Company’s strategy for Trax, which includes building a foundation for a new parts ecosystem in coordination with AAR and parts suppliers and more broadly incorporating AI into Trax’s offerings.
Schmidt brings more than 30 years of experience across aviation, finance, and digital solutions, including serving as AAR’s Senior Vice President of Intelligent Solutions from 2011 to 2018. Under Schmidt’s leadership, AAR acquired and integrated Airinmar® and launched PAARTSTM Store, bringing the Company’s parts sales online to increase revenue and expand product reach to additional customers. In addition to AAR, Schmidt held various other senior-level roles, including with Seabury Capital, Macquarie Capital’s Aviation and Aerospace Investments, and Oliver Wyman.
“Opportunities exist to more rapidly deploy Trax’s entire portfolio of products and services for existing and new customers to realize operating efficiencies and productivity improvements in their workforces. We are determined to leverage Trax’s position in the mobile software market and expand it to encompass autonomous enterprise solutions,” said Schmidt. “I am excited to work with the Trax team to execute our shared vision.”
“Andy has been involved in our relationship with Trax since the beginning and recognizes the opportunities that exist to strengthen Trax’s foundation and potentially facilitate AAR’s investments in other complementary digital applications and businesses,” said John M. Holmes, AAR’s Chairman, President and CEO. “We are excited about his support to grow the Trax business and position AAR’s existing digital services for even greater commercial success.”
For more information on AAR, visit aarcorp.com. For more information on Trax, visit trax.aero.
About AAR
AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR’s Aviation Services include Parts Supply; OEM Solutions; Integrated Solutions; and Maintenance, Repair, and Overhaul (MRO) Services. AAR’s Expeditionary Services include Mobility Systems operations. Additional information can be found at aarcorp.com.
About TRAX
TRAX, a wholly owned subsidiary of AAR, provides comprehensive software solutions designed to manage all aspects of aircraft maintenance. TRAX is the premier provider of aviation maintenance mobile and cloud products in the global market today. TRAX products support digital signatures, paperless working including Workpacks and manuals, RFID-capability for logistics, Biometric security, offline capability for its suite of mobile apps, web-based applications, and the ability for users to work anywhere with easy access to real-time information. Additional information can be found at trax.aero.
| This press release contains certain statements relating to potential future activities, opportunities and conditions related to the Trax business and the Company’s digital services generally. Such statements are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995 which reflect management’s expectations about future conditions. Forward-looking statements may also be identified because they contain words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘continue,’’ ‘‘could,’’ ‘‘estimate,’’ ‘‘expect,’’ ‘‘intend,’’ ‘‘likely,’’ ‘‘may,’’ ‘‘might,’’ ‘‘plan,’’ ‘‘potential,’’ ‘‘predict,’’ ‘‘project,’’ ‘‘seek,’’ ‘‘should,’’ ‘‘target,’’ ‘‘will,’’ ‘‘would,’’ or similar expressions and the negatives of those terms. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. For a discussion of these and other risks and uncertainties, refer to “Risk Factors” in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Should one or more of these risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described and the anticipated benefits may not be realized. These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company’s control. The Company assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events, except as required by law. |
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