May 23, 2013
AAR CEO to be Honored Speaker at USAIRE Executive Forum in Paris
David P. Storch to share strategies on navigating aerospace industry cycles
WOOD DALE, Illinois – David P. Storch, Chairman and Chief Executive Officer of AAR (NYSE: AIR), will offer his outlook on the global aviation and defense industries as honored guest speaker at the Association of United States and European Aerospace Industry Executives (USAIRE) luncheon Friday, May 24, in Paris.
Storch will identify trends and share strategies for success, and recap how AAR has navigated five major industry cycles, from the Arab Oil Embargo in 1974 to the recent Great Recession. AAR has emerged from each downturn as a more diverse provider of products and services to commercial airlines and government customers around the world.
Welcoming Storch at the forum will be USAIRE President Philippe Bottrie, who is Head of Public Affairs at the European Aeronautic Defence and Space Company (EADS). Storch’s presentation will be followed by a Q&A with attendees, expected to include leaders from Boeing, Eurocopter, Air France, Société Générale S.A. (SocGen), Credit Agricole-Corporate Investment Bank (CA-CIB), Sabena technics, Safran and the U.S. Embassy.
After posting four consecutive years of export growth, AAR was recognized earlier this week with a Presidential “E” Award by the U.S. Department of Commerce for making a significant contribution to the expansion of U.S. exports. AAR currently serves customers in 108 countries around the world.
Founded in 1959 in Paris, USAIRE is an association of American and European member companies focused on aerospace and advanced technologies. USAIRE's objective is to foster international understanding and cooperation in the transatlantic aerospace and high-technology communities. Membership consists of more than 100 American and European companies and business leaders. More information can be found at www.usaire.org.
AAR will be exhibiting its diverse products and services for aerospace and defense at the Paris Air Show June 17-23.
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, 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.
