June 09, 2014
AAR Awarded New Contract to Support U.S. Navy Vertical Replenishment
Airlift Group to provide a third helicopter detachment to Military Sealift Command
WOOD DALE, Illinois – AAR (NYSE: AIR) announces the Military Sealift Command awarded its Airlift division a contract to provide vertical replenishment (VERTREP) services to its 5th and 7th Fleets in the Mediterranean Sea, Arabian Gulf, and Indian and Western Pacific oceans. The contract is valued at approximately $34 million, inclusive of all options.
Military Sealift Command (MSC) is the leading provider of ocean transportation for the Navy and the U.S. Department of Defense, operating approximately 110 ships daily around the globe. AAR has been performing commercial VERTREP services including ship-to-shore replenishment, ship-to-ship underway replenishment, search and rescue, and support for humanitarian aid operations for MSC since 2007.
AAR Airlift will provide two helicopters, personnel, and operational and technical support to the detachment. The new contract will be the third helicopter detachment operated by the Company for MSC.
“AAR Airlift Group has provided exceptional service to the U.S. Navy at an excellent value for seven consecutive years,” said Randy J. Martinez, President and CEO, Airlift Group. “We’re honored to be awarded another contract to provide this critical service for our military personnel.”
AAR provides expeditionary airlift services in support of contingency operations worldwide. The Company owns and operates a fleet of fixed-wing and rotary-wing aircraft to transport personnel, supplies and mail for the U.S. Department of Defense in Afghanistan, Africa and the Western Pacific.
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.
Contact
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Editor@aarcorp.com
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
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