Asset Management Agreement Covers CFM56, V2500 and PW4000
CHANDLER, Ariz., Aug. 3, 2021 /PRNewswire/ -- AvAir, an industry-leading inventory solutions provider for the aviation aftermarket, has completed an agreement with Israel Aerospace Industries (IAI) Aviation Group to provide asset management solutions for more than 20,000 line items.
IAI's unique Aviation Group is a global leader, with more than 50 years' experience in all aspects of the aircraft industry, having all the required capabilities in-house at one centralized location. With total commitment to quality and an extensive portfolio, IAI maintains the highest expertise in a broad range of capabilities, from aeronautic design and engineering, through flight testing, modification and certification. IAI is one of the few companies with proven in-house FAR 25 certification capabilities.
With this transaction, AvAir will manage more than 20,000 line items including internal parts and accessories from IAI's core business lines, CFM56-3, CFM56-5B, CFM56-7B, V2500-A5 and PW4000 engines, along with airframe components for the A320 and Boeing family aircraft.
"This past year we have been working diligently to increase our access to engine material to offer more comprehensive solutions to our clients," said Kevin Lenz, SVP of Powerplants for AvAir. "Our Asset Management Program was a great option for IAI to maximize their return on the asset by tapping into the growing material demand from our customers.
"Over the years, we've accumulated a large inventory of surplus material and needed a company to sell the surplus material on a consignment basis," said Shmuel Kuzi, Vice President and General Manager, of IAI Aviation Group. "We are eager to begin our partnership with AvAir and create more liquidity for Aviation Group."
AvAir offers solutions for customers and suppliers to buy, sell, exchange, loan, lease, or consign inventories with more than 26 million in-stock parts. The company is ISO 9001, AS9120, and ASA 100 certified, and adheres to the highest quality standards in all phases: purchasing, receiving, stocking, sales, and shipping.
For more information about AvAir, visit AvAir.aero.
Founded in 2000, Arizona-based AvAir is a global leader in the aviation aftermarket, providing customized inventory solutions for airlines, OEMs, and MROs. AvAir offers solutions for customers and suppliers to buy, sell, exchange, loan, lease, or consign inventories with more than 26 million in-stock parts. Recognized as a global leader, AvAir has been named "No. 1 Parts Supplier of the Year" by Airline Economics, and "Fastest Growing Companies in America" by Inc. 5000. For more about AvAir, visit AvAir.aero.
About Israel Aerospace Industries (IAI) Aviation Group
Israel Aerospace Industries (IAI) is a world-leading aerospace and defense company innovating and delivering state-of-the-art technologies in space, air, land, naval, cyber & homeland security for defense and commercial markets. Combining the "Start-up Nation" spirit of innovation with decades of combat-proven experience, IAI provides customers with tailor-made, cutting-edge solutions to the unique challenges they face including satellites, UAVs, missiles, intelligence solutions, weapon systems, air defense systems, robotic systems, radars, business jets, aerostructures, and more. Established in 1953, IAI is one of Israel's largest technology employers with offices and R&D centers in Israel and abroad. For more information, visit https://www.iai.co.il/
Contact: Amanda Moore
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