February 19, 2013
AAR Wheel and Brake Services Earns 2012 Top Shop Honors
Aviation industry peers select AAR for third year in a row
MIAMI – AAR (NYSE: AIR) announces that its Wheel and Brake Services division has earned a 2012 Top Shop Award from OneAero MRO. This is the third year aviation industry peers have selected AAR for the honor.
Top Shop awards recognize superior customer support, excellent turnaround times and competitive repair pricing in several categories of aviation maintenance, repair and overhaul (MRO). Only 17 out of more than 500 repair centers listed on the OneAero MRO online database are Top Shop honorees.
AAR offers a complete range of aircraft wheel and brake services, including repair, rebuilding and inspection, for all major aircraft types used in commercial, military and regional operations. The Company expanded its Miami wheel and brake operation in 2011.
“Our growth couldn’t happen without on-time, on-target deliveries and satisfied customers,” said Pastor Lopez, Vice President and General Manager, AAR Landing Gear Services in Miami. “What awards like this really come down to is our employees’ skillful execution. It’s not just exceptional training; it’s their commitment to supporting our customers. They are the ones who have earned this honor.”
Landing Gear Wheel and Brake Services are part of AAR’s 1MRO (SM) offerings, which include engineering and aircraft services delivered via a network of five aircraft repair stations located in Duluth, Minn., Indianapolis, Hot Springs, Ark., Oklahoma City and Miami.
All winners of the Top Shop Awards were nominated and ultimately selected by their peers in the aviation industry. OneAero MRO, a global leader in providing online marketing and support services to the aviation repair market, whittled the nominations to create a list of finalists. The list then was distributed to a panel of 20 airlines and suppliers around the world, who selected the 2012 winners.
Nominations for 2013 Top Shop awards, to be presented next year, are being accepted through February 28. More than 2000 repair centers will compete for a chance to win in one of 18 categories.
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.
