Associated tags: Aviation, Freedom Air, OEM, AAR, AIR, Original equipment manufacturer, NYSE, Indian MRO Industry
Locations: NEW YORK, WOOD DALE, IL, US, RYE, NY, BERKSHIRE, ENGLAND, ALASKA, PRATT, HOLMES, TEXAS, PHILIPPINES, ILLINOIS, OKLAHOMA
AIR,
AOG,
SPP,
AAR,
Original equipment manufacturer,
Distribution,
WOOD,
GM,
Sumitomo Group,
Aviation,
Sumitomo Precision Products,
Airline WOOD DALE, Ill., April 11, 2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, has signed an extension and expansion of its V2500 engine component distribution agreement with Sumitomo Precision Products Co., Ltd. (SPP).
Key Points:
- WOOD DALE, Ill., April 11, 2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, has signed an extension and expansion of its V2500 engine component distribution agreement with Sumitomo Precision Products Co., Ltd. (SPP).
- Under the agreement, AAR has extended its exclusive agreement to distribute the V2500 pneumatic starter and starter control valve on behalf of SPP for the life of the program.
- "AAR is proud to expand and extend our support of Sumitomo Precision Products on this critical engine component," said Paige Immordino, AAR's Vice President of Distribution – Commercial.
- "AAR has been a valued partner to Sumitomo Precision Products since 2017, and we are pleased to extend our distribution relationship through this agreement."
AIR,
Atmosphere of Earth,
Atlas,
AAR,
Original equipment manufacturer,
Atlas Air,
Senior,
WOOD,
Acquisition,
MRO,
ATA,
Reliability engineering,
Aviation,
Reliability,
Maintenance (technical) WOOD DALE, Ill., April 9, 2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, was awarded the 2023 Component Repair Supplier of the Year – Large Volume Category by Atlas Air Worldwide (Atlas Air).
Key Points:
- WOOD DALE, Ill., April 9, 2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, was awarded the 2023 Component Repair Supplier of the Year – Large Volume Category by Atlas Air Worldwide (Atlas Air).
- "We are honored to be named Supplier of the Year – Large Volume Category," said Jim Berberet.
- "We are honored to be named Supplier of the Year – Large Volume Category and receive this recognition for our collaboration and performance with Atlas Air," said Jim Berberet, AAR's Senior Vice President of Component Services.
- Atlas Air presented this year's Supplier of the Year – Large Volume Category award to AAR earlier today at MRO Americas in Chicago, the premier MRO event in the industry with more than 16,000 attendees.
Salmon,
Alaska Airlines,
Will Rogers World Airport,
Growth,
Aircraft maintenance,
AAR,
Original equipment manufacturer,
MRO,
Aviation,
Local government,
OKC,
WOOD,
Trust,
Boeing 737 MAX,
Commerce,
Oklahoma City metropolitan area,
Will Rogers,
Workforce,
OCAT,
AIR,
Economic development,
State,
Oklahoma Aeronautics Commission,
Airline WOOD DALE, Ill., April 5, 2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, broke ground on the expansion of its maintenance, repair, and overhaul facility in Oklahoma City earlier today.
Key Points:
- WOOD DALE, Ill., April 5, 2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, broke ground on the expansion of its maintenance, repair, and overhaul facility in Oklahoma City earlier today.
- AAR's growth in Oklahoma City supports a recently expanded maintenance commitment from Alaska Airlines, a valued customer of AAR for more than 20 years.
- Governor Matt Pinell; Senator Paul Rosino; Jeff Seymour of Greater Oklahoma City Chamber of Commerce – Economic Development; Terry Salmon, Chair of the Oklahoma City Airport Trust; and Jeff Mulder, Oklahoma City Director of Airports.
- "The Oklahoma City Airport Trust is excited to partner with AAR to expand its Maintenance, Repair and Overhaul operation at Will Rogers World Airport.
Retrieved on:
Wednesday, March 20, 2024
WOOD DALE, Ill., March 20, 2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced today that Jeffrey N. Edwards has been elected to AAR's Board of Directors, effective immediately.
Key Points:
- WOOD DALE, Ill., March 20, 2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced today that Jeffrey N. Edwards has been elected to AAR's Board of Directors, effective immediately.
- Mr. Edwards, 63, brings more than 40 years of experience in the financial services sector.
- As Partner and Vice Chairman of New Vernon Capital, Mr. Edwards prioritizes the firm's clients, focusing on investment portfolios, operations, and business development.
- Prior to New Vernon Capital, Mr. Edwards spent over 20 years with Merrill Lynch, serving in various leadership positions, including Chief Financial Officer.
WOOD DALE, Ill., March 7, 2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, today announced that it will release financial results for its third quarter of fiscal year 2024, ended February 29, 2024, after the close of the New York Stock Exchange trading session on Thursday, March 21, 2024.
Key Points:
- WOOD DALE, Ill., March 7, 2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, today announced that it will release financial results for its third quarter of fiscal year 2024, ended February 29, 2024, after the close of the New York Stock Exchange trading session on Thursday, March 21, 2024.
- On Thursday, March 21, 2024, at 3:45 p.m. Central time, AAR will hold a conference call to discuss the results.
- The conference call can be accessed by registering at https://register.vevent.com/register/BIdf08c4f6d49042bebbb16a2c5934bf64 .
- Once registered, participants will receive a dial-in number and a unique PIN that will allow them to access the call.
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Wednesday, February 21, 2024
Aircraft,
Engineering,
De Havilland,
PAL,
Airbus,
Growth,
AAR,
Safety,
Philippine Airlines,
AIR,
Airline BERKSHIRE, England, Feb. 21, 2024 /PRNewswire/ -- AAR (NYSE: AIR) subsidiary Airinmar, a leading independent provider of component repair cycle management and aircraft warranty solutions, has signed a multi-year support services extension with Philippine Airlines (PAL).
Key Points:
- BERKSHIRE, England, Feb. 21, 2024 /PRNewswire/ -- AAR (NYSE: AIR) subsidiary Airinmar, a leading independent provider of component repair cycle management and aircraft warranty solutions, has signed a multi-year support services extension with Philippine Airlines (PAL).
- Working in conjunction with PAL's Aircraft Material Management team, Airinmar will provide a full suite of support services covering both aircraft warranty and value engineering.
- The services will supplement PAL's current activities and continue building on the successful recovery of the Philippine flag carrier's aircraft warranty entitlements and reducing the cost of component repair.
- Airinmar's aircraft warranty management services cover the identification, claim, and recovery of the multiple aircraft warranty entitlements provided by Airbus, Boeing, and de Havilland and their suppliers.
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Wednesday, February 14, 2024
Acquisition,
WOOD,
Regulation,
Person,
Aviation,
Original equipment manufacturer,
Sale,
AAR,
Line of credit,
Triumph Group,
TGI,
AIR,
Hand,
Credit,
Security (finance) The offering was upsized to $550 million from the original offering size of $500 million in aggregate principal amount of Notes.
Key Points:
- The offering was upsized to $550 million from the original offering size of $500 million in aggregate principal amount of Notes.
- The Company intends to use the net proceeds of the senior notes offering to fund a portion of the purchase price for its pending acquisition of Triumph Group's (NYSE: TGI) Product Support business (the "Triumph Product Support Acquisition").
- If the senior notes offering closes substantially concurrently with the consummation of the Triumph Product Support Acquisition, the Notes will not be subject to the aforementioned procedures.
- Prior to the consummation of the Triumph Product Support Acquisition, the Notes will be the sole obligation of the Escrow Issuer.
Retrieved on:
Wednesday, February 14, 2024
Acquisition,
WOOD,
Regulation,
Person,
Aviation,
Original equipment manufacturer,
Sale,
AAR,
Line of credit,
Triumph Group,
TGI,
AIR,
Hand,
Credit,
Security (finance) The Company intends to use the net proceeds of the proposed senior notes offering to fund a portion of the purchase price for its pending acquisition of Triumph Group's (NYSE: TGI) Product Support business (the "Triumph Product Support Acquisition").
Key Points:
- The Company intends to use the net proceeds of the proposed senior notes offering to fund a portion of the purchase price for its pending acquisition of Triumph Group's (NYSE: TGI) Product Support business (the "Triumph Product Support Acquisition").
- If the proposed senior notes offering closes substantially concurrently with the consummation of the Triumph Product Support Acquisition, the Notes will not be subject to the aforementioned procedures.
- Prior to the consummation of the Triumph Product Support Acquisition, the Notes will be the sole obligation of the Escrow Issuer.
- Substantially concurrently with the consummation of the Triumph Product Support Acquisition, the Escrow Issuer will merge with and into the Company, with the Company continuing as the surviving entity.
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Thursday, January 4, 2024
AAR currently provides military distribution support to Ontic's Cheltenham, United Kingdom, facility and commercial distribution support to Ontic's Creedmoor, North Carolina, facility.
Key Points:
- AAR currently provides military distribution support to Ontic's Cheltenham, United Kingdom, facility and commercial distribution support to Ontic's Creedmoor, North Carolina, facility.
- Under this additional contract, AAR will support Ontic's Chatsworth, California, facility.
- "Ontic is pleased to deepen our partnership with AAR through this new agreement.
- "AAR is enthusiastic about bolstering our strategic military portfolio by expanding our Ontic relationship to include the Chatsworth facility," said Ross Wuestenfeld, Vice President of AAR's Distribution – Defense.
Retrieved on:
Thursday, December 21, 2023
AIR,
MRO,
Consolidated,
Pratt & Whitney PW2000,
Acquisition,
WOOD,
Will Rogers World Airport,
Original equipment manufacturer,
Alaska Airlines,
Growth,
USM,
Aviation,
GAAP,
Trax,
AAR,
Video game Our adjusted diluted earnings per share from continuing operations in the second quarter of fiscal year 2024 were $0.81, compared to $0.69 in the second quarter of the prior year.
Key Points:
- Our adjusted diluted earnings per share from continuing operations in the second quarter of fiscal year 2024 were $0.81, compared to $0.69 in the second quarter of the prior year.
- Consolidated second quarter sales increased 16% over the prior year quarter.
- Gross profit margins were 19.0% in the current quarter, compared to 18.3% in the prior year quarter.
- Operating margins were 7.0% in the current quarter, compared to 6.9% in the prior year quarter.
