February 20, 2009
FAA Returns AAR Landing Gear Services Repair Station Certificate
WOOD DALE, Ill., /PRNewswire-FirstCall/ -- AAR CORP. (NYSE: AIR) announced today that the Federal Aviation Administration (FAA) has returned AAR Landing Gear Services' repair station certificate enabling the facility to resume full operations.
After agreeing to a Consent Order on February 13, the FAA and AAR worked toward the expeditious and orderly revalidation of AAR Landing Gear Services' authority to operate under its FAA repair station certificate. Per the Consent Order, AAR will perform liquid penetrant inspections for Boeing aircraft landing gear on a going-forward basis, in addition to the magnetic particle inspections that it had been performing previously. Additionally, in accordance with recent Boeing guidance applicable to all persons performing maintenance and overhauls on Boeing aircraft landing gear, AAR will re-inspect the Boeing aircraft landing gear currently at its facility using the liquid penetrant inspection process before releasing it to customers.
AAR is a leading provider of products and value-added services to the worldwide aerospace and defense industry. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve aviation and defense customers through four operating segments: Aviation Supply Chain; Maintenance, Repair and Overhaul; Structures and Systems; and Aircraft Sales and Leasing. More information can be found at www.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 May 31, 2008 Form 10-K. 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.
CONTACT:
Chris Mason, Director, Corporate Communications, of AAR
+1-630-227-2062
chris.mason@aarcorp.com
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