10:59 AM EDT, 03/20/2024 (MT Newswires) -- AAR (AIR) said Wednesday it has a multiyear agreement to provide surplus material for the CFM56-5B engine to Cebu Pacific.

Financial details weren't disclosed.

Under the accord, AAR said it will assist with the 30 scheduled shop visits for CFM56-5B engines that Cebu Pacific has scheduled throughout the contract period.

Shares of ARR rose 0.5% in recent Wednesday trading.

Price: 63.44, Change: +0.34, Percent Change: +0.53