Jet service firm AAR says it did no work near Alaska Air's exit panel (updated)

AAR

08/01/2024 20:01

(Adds details and background throughout)
       Jan 8 (Reuters) - Aviation services provider AAR Corp
 AIR.N  said on Monday it did not perform any work on or near
the mid-cabin exit door plug of the Alaska Air  ALK.N  aircraft
whose cabin panel ripped off while in mid-air. 
    Investors sold off AAR shares on Monday following an analyst
note from Deutsche Bank that noted that the aircraft spent time
at an Oklahoma facility operated by AAR.
    A piece of fuselage tore off the left side of an Alaska
Airlines-operated Boeing  BA.N  737 MAX 9 jet on Friday after
taking off from Portland, Oregon, forcing an emergency landing.
    The panel that tore off is a plug put in place on some MAX
9s instead of an additional emergency exit. 
        However, AAR said it did not perform any work near the
mid-cabin panel of the aircraft in question. "AAR was contracted
by Alaska Airlines to perform a 2KU Modification (WiFi
modification) on the aircraft that was performed from Nov. 27 to
Dec. 7, 2023," AAR said.
    At one point Monday, AAR shares fell as much as 8% in
morning trade; they pared losses after the company's statement
and were down 2.9%.
        Deutsche Bank research noted that the aircraft had
departed Oklahoma City on Dec. 7, citing flight tracking data,
where WiFi installations could have occurred at AAR's facility.
        Reviewing videos of other WiFi installs, Deutsche Bank
said emergency exits had been removed in such cases.    
    "It might be possible that a door plug also might have been
removed and then reattached during this process," the report
added.
        Deutsche Bank did not immediately respond to a request
for additional comments.

 (Reporting by Shivansh Tiwary in Bengaluru; Editing by Shailesh
Kuber)
 ((Shivansh.Tiwary@thomsonreuters.com; +91 9708363192;))