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 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.”