AAR and Fortress Transportation and Infrastructure Investors (FTAI) have announced a joint initiative associated with their CFM56-5B and -7B partnership to help customers achieve industry-wide sustainability goals aimed at reducing CO2 emissions in international aviation.
Every year, jet engine maintenance results in a significant monetary and environmental cost for the industry. FTAI and AAR’s new initiative highlights the environmental benefits of recycling serviceable material and affords customers a path to reduce their overall carbon footprint.
AAR and FTAI will together contribute a percentage of all used serviceable material (USM) sales from the CFM56-5B and -7B partnership to purchase verified carbon offsets and grant them to the purchasing customers. The donated offsets will meet international standards, namely the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA).
“We are proud to announce that AAR and FTAI teamed up to provide CFM56-5B and -7B customers with carbon offsets for all USM purchases through this partnership,” said John Holmes, AAR’s president and chief executive officer. “We are committed to helping our customers reduce their carbon footprint and USM is a low-cost, green alternative to purchasing new parts. The goal of our initiative is to help operators address the opportunity for commercial aviation to make a positive impact on climate change.”
“The new initiative with AAR reflects our commitment to a sustainable future for the aviation industry. We know there is a positive environmental impact from recycling engine material, and we want our customers to experience the benefit of that impact. One of our goals is to remain at the forefront of sustainable solutions in the aftermarket,” said Joe Adams, FTAI chairman and chief executive officer.