December 11, 2012
AAR Airlift Wins Prestigious Florida Governor’s Award
Company recognized as outstanding ‘Newcomer’
MELBOURNE, FLORIDA — AAR Airlift has won the prestigious Florida Governor’s Innovators in Business Awards in the “Newcomer” category. The award recognizes excellence in business for companies that are new to Florida. Gov. Rick Scott presented the award to Airlift President Randy Martinez on Dec. 10, during a reception at the Governor’s Mansion in Tallahassee.
A division of Wood Dale, Il-based AAR CORP. (NYSE: AIR), AAR Airlift provides expeditionary airlift and specialized aircraft modifications as part of AAR’s diverse mix of products and services for government and defense customers. The Governor’s Innovators Awards honors business achievements that advance the state’s economy through job creation, distinctive community involvement and capital investment. AAR Airlift competed with other companies in markets similar to its size.
AAR CORP. acquired the Airlift business in 2010 and moved its headquarters to Melbourne in 2011, creating more than 220 jobs and adding a projected $42.3 million annually to Florida’s economy. The business is also committed to community service, including United Way campaigns, Toys for Tots, and blood drives.
“It is an honor to be recognized with this prestigious award and to be a part of the Melbourne-Palm Bay community,” said Randy Martinez, President of Airlift Group. “Our successful relocation to the Space Coast last year and the progress we have made since then has only been possible with the support and commitment of Gov. Scott and the State of Florida.”
Under Mr. Martinez’s leadership, AAR Airlift has strengthened its position as the largest independent provider of airlift for the U.S. Government and its allies in Afghanistan and won key renewals of U.S. Department of Defense contracts.
Prior to joining AAR, Martinez led two airlines that supported government and defense customers and served in the U.S. Air Force as a colonel and command pilot. An active participant in the aviation community, Martinez serves on the board The National Defense Transportation Association and chairs its Military Aviation Advisory Committee. He also serves on the board of the Space Coast Economic Development Commission.
About AAR
AAR is a global aftermarket solutions company that employs more than 6,000 people in over 20 countries. Based in Wood Dale, Illinois, AAR supports commercial aviation and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR’s Aviation Services include inventory management; parts supply; OEM parts distribution; aircraft maintenance, repair and overhaul; engineering services and component repair. AAR’s Expeditionary Services include airlift operations; mobility systems; and command and control centers in support of military and humanitarian missions. More information can be found at www.aarcorp.com.
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This press release contains certain statements relating to future results, which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on beliefs of Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, including those factors discussed under Item 1A, entitled “Risk Factors”, included in the Company’s Form 10-K for the fiscal year ended May 31, 2018. Should one or more of these risks or uncertainties materialize adversely, or should underlying assumptions or estimates prove incorrect, actual results may vary materially from those described. These events and uncertainties are difficult or impossible to predict accurately and many are beyond the Company’s control. The Company assumes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events. For additional information, see the comments included in AAR’s filings with the Securities and Exchange Commission.
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Wood Dale, Illinois — AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, is proud to announce it has been recognized by Newsweek as one of America’s Most Responsible Companies 2025. This prestigious award is presented in collaboration with Statista, the world-leading statistics portal and industry ranking provider. The awards list was announced earlier this month and can currently be viewed on Newsweek’s website.
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AAR announces divestiture of non-core Landing Gear Overhaul business to optimize portfolio
Wood Dale, Illinois — AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced today that it has entered into a definitive agreement to divest its Landing Gear Overhaul business to GA Telesis. The transaction is valued at $51 million and is expected to close in the first quarter of the 2025 calendar year, subject to customary and regulatory closing conditions. The divestiture will be immediately accretive to margins and earnings.
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AAR resolves Foreign Corrupt Practices Act investigations with the DOJ and SEC
Wood Dale, Illinois — AAR CORP. (NYSE: AIR) (“AAR” or the “Company”) announced today that it has reached resolutions with the Department of Justice (“DOJ”) and the Securities and Exchange Commission (“SEC”) to resolve previously disclosed potential violations of the U.S. Foreign Corrupt Practices Act (the “FCPA”) relating to certain transactions signed in 2016 and 2017 in Nepal and South Africa.
