AAR celebrates 70-year anniversary

Focus on Doing It Right®, evolving alongside industry, and customer satisfaction prove key to longevity

Wood Dale, Illinois — AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, is celebrating the Company’s 70th anniversary, citing its Doing It Right® maxim, strategic evolution of services, and focus on customer satisfaction as key to the Company’s longevity and success.

In 1955, AAR’s founder, Ira A Eichner, saw an opportunity to meet the growing demands of the burgeoning aviation industry. With an entrepreneurial spirit and value-driven approach, Eichner began selling aircraft radio equipment across Chicagoland. The Company flourished, expanding capabilities and opening locations internationally. After more than 40 years of Eichner’s leadership, in 1996 David P. Storch became AAR’s second CEO. He built the Company’s Engine Parts business, which became AAR’s largest business unit at the time.

For the past seven decades, the Company has strategically optimized its parts and services portfolio to meet the timely needs of the aviation industry. AAR has also been recognized for achieving industry milestones, including becoming the first non-OEM with a corporate Safety Management System accepted by the FAA.  

Today, AAR is a $2.7 billion provider of differentiated aftermarket services led by John M. Holmes, who became the Company’s third CEO in 2018. Among the largest independent maintenance, repair, and overhaul companies in North America, AAR serves commercial and government customers from over 60 locations across six continents. Known for its award-winning solutions and commitment to Doing It Right®, AAR has retained the entrepreneurial spirit and growth mindset of its founder, recently completing its largest acquisition and currently expanding two of the Company’s existing Airframe MRO facilities.

Holmes, AAR’s Chairman, President and CEO, remarked, “I am humbled to be the third CEO in AAR’s vibrant 70-year history. Throughout AAR’s evolution and innovation with the aviation industry, our focus on safety, commitment to Doing It Right®, and customer-centric approach have been constants. We thank our valued customers for entrusting AAR to provide the highest quality services and support.” Holmes continued, “This year we are celebrating seven decades of AAR’s aviation solutions and are very excited about our future. There is still a lot of runway ahead!” 

Learn more about AAR’s rich history on its 70-year timeline, recent wins in the Company’s newsroom, and current offerings on its services webpage.

About AAR
AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through four operating segments: Parts Supply, Repair & Engineering, Integrated Solutions, and Expeditionary Services. Additional information can be found at aarcorp.com. 

This media advisory may contain 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, reflecting management’s expectations about future conditions, including continued execution of business strategies. Forward-looking statements may also be identified because they contain words such as ‘‘anticipate,’’ ‘‘believe,’’ ‘‘continue,’’ ‘‘could,’’ ‘‘estimate,’’ ‘‘expect,’’ ‘‘intend,’’ ‘‘likely,’’ ‘‘may,’’ ‘‘might,’’ ‘‘plan,’’ ‘‘potential,’’ ‘‘predict,’’ ‘‘project,’’ ‘‘seek,’’ ‘‘should,’’ ‘‘target,’’ ‘‘will,’’ ‘‘would,’’ or similar expressions and the negatives of those terms. These forward-looking statements are based on beliefs of management, as well as assumptions and estimates based on information currently available to management and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. For a discussion of these and other risks and uncertainties, refer to “Risk Factors” in AAR CORP.’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. 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 management’s control. Management 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.

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