July 30, 2013
AAR Selected by ExpressJet to Provide Landing Gear Overhaul Services
No. 1 MRO provider in Americas wins 5-year award to service Embraer ERJ-145XR fleet
WOOD DALE, Illinois — AAR (NYSE: AIR) announces a five-year contract with ExpressJet Airlines to provide landing gear overhaul services on its fleet of 104 Embraer ERJ-145XR aircraft.
AAR will perform gear overhauls in a dedicated regional aircraft product area at its 180,000-square-foot Landing Gear Services MRO facility in Miami. ExpressJet, a wholly owned subsidiary of SkyWest, Inc., is the world’s largest regional airline.
“It’s rewarding for an industry leader such as ExpressJet to recognize our extensive experience with the ERJ-145 landing gear, as well as our ability to meet their rigorous quality and program requirements,” said Pastor Lopez, Vice President, Aircraft Components and Landing Gear. “This multi-year contract energizes our team to meet the high performance standards our customers have come to expect.”
AAR marshals resources to satisfy a vast array of aircraft needs via its 1MRO network across five U.S. cities, with facilities in Duluth, Minnesota, Indianapolis, Miami, Oklahoma City and Hot Springs, Arkansas. Recently, AAR again was named the No. 1 Airframe MRO Provider in North America and No. 3 in the world based on an industry survey by Aviation Week.
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.
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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 it has acquired Aerostrat, a leading long-range maintenance planning software company, for a purchase price of $15 million plus contingent consideration of up to $5 million. The acquisition immediately expands the reach of AAR's software offerings and the enterprise resource planning system (ERP) capabilities of AAR’s Trax subsidiary.
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Wood Dale, Illinois — AAR CORP. (“AAR” or the “Company”) (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs and OEMs, announced today that it has successfully priced its offering of $150 million aggregate principal amount of 6.750% senior notes due 2029 (the “Additional Notes”). The Additional Notes are being issued at a price of 102.000% of their principal amount, plus accrued interest from March 15, 2025, for a yield to maturity of 6.119%.
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AAR announces proposed add-on offering of $150 million of 6.750% senior notes due 2029
Wood Dale, Illinois — AAR CORP. (“AAR” or the “Company”) (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs and OEMs, announced today that it intends to offer, subject to market conditions and other factors, $150 million aggregate principal amount of 6.750% senior notes due 2029 (the “Additional Notes”). The Additional Notes will be issued as additional notes under an existing indenture dated March 1, 2024, pursuant to which the Company previously issued $550.0 million aggregate principal amount of 6.750% senior notes due 2029 (the “Existing Notes” and together with the Additional Notes, the “Notes”). Other than with respect to the date of issuance and the offering price, the Additional Notes will have the same terms as the Existing Notes.
