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Navy Awards AAR, Boeing, StandardAero $318M in Poseidon Maintenance Contracts

The U.S. Navy has awarded AAR (NYSE: AIR), Boeing (NYSE: BA) and StandardAero separate contract modifications worth $318.1 million combined to maintain Poseidon maritime patrol planes and engines.

All three awards include depot-level support services for Australia and other foreign military sales customers, the Department of Defense said Thursday.

AAR secured $85 million to perform work such as in-service repair, airframe modification and engine replacement of the multimission aircraft.

Boeing and StandardAero received $131.6 million and $101.4 million, respectively, to maintain or repair CFM56-7B27A/3 and CFM56-7B27AE engines.

Naval Air Systems Command is the contracting activity and will obligate funds with each order.

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