June 23, 2015
AAR Celebrates Delivery of 500th Aircraft to Alaska Airlines
OKLAHOMA CITY, Oklahoma, June 23, 2015 – AAR (NYSE: AIR) announces that it has reached a maintenance milestone -- delivery of the 500thaircraft to longtime customer Alaska Airlines. For 12 years, AAR has performed aircraft maintenance, repair and overhaul (MRO), including heavy checks and drop-ins, component repair and management, on Alaska’s fleet of classic Boeing 737s and 737NG narrow-body aircraft.
Most of the work has been performed at AAR’s MRO facility in Oklahoma City that has a service capacity ranging from 6 to 12 lines of maintenance, and performs approximately 1 million man hours a year at the facility; nearly 300,000 with Alaska Airlines. AAR provides two continuous lines of overhaul maintenance for Alaska and additionally handles between 50 and 75 drop-in visits annually for the airline.
AAR recently celebrated the milestone with its employees and Alaska Airlines executives at a reception at the 300,000-square-foot Oklahoma facility.
“We value the relationship and the trust that Alaska Airlines has placed in AAR to help ensure the safe and efficient operation of its fleet,” said Dany Kleiman, AAR Group Vice President – Repair and Engineering. “A special thanks goes to our employees. We owe this achievement to their dedication and leadership. We look forward to partnering with Alaska Airlines well into the future.”
AAR recently exercised the first of two option years under a five-year contract signed with Alaska Airlines in 2012. This year, AAR celebrates 60 years of excellence serving the aviation aftermarket and was named by ATE&M as the Best Airframe MRO Provider worldwide.
The Oklahoma MRO, AAR’s first aircraft repair station established in 1972, is one of six comprising AAR’s 1MRO Network of aircraft repair stations in North America. A seventh being designed to service next-generation aircraft is due to open next year in Rockford, Ill. The AAR “1MRO” approach leverages diverse maintenance, engineering and technical capabilities to offer airlines customized, integrated services that lower costs, increase asset availability and ensure high levels of quality, safety and service.
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.
Media contact: Daniela Pietsch, Vice President Corporate Marketing & Communications, at editor@aarcorp.com or +1 630-227-5100.
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.
