This award recognizes AAR's dedication to supporting a diverse workforce and inclusive work environment for the second consecutive year.WOOD DALE, Ill., May 29, 2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced today that it has been recognized as one of America's Greatest Workplaces for Diversity 2024 by Newsweek and Plant-A Insights Group. This award recognizes AAR's dedication to supporting a diverse workf ...

WOOD DALE, Ill., May 23, 2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, will participate in Stifel's 2024 Cross Sector Insight Conference.AAR's Chief Financial Officer Sean Gillen will present on Wednesday, June 5, 2024, at 1:50 p.m. Eastern Time. A live audio webcast will be available at https://wsw.com/webcast/stifel89/air/1916320. Following the conference, the webcast recording will be available for on-demand lis ...

Steadily improving air traffic across the globe has been boosting the growth prospects of the  Zacks Aerospace-Defense Equipment industry stocks. However, persistent supply-chain issues may negatively impact the operating results of the industry players. Nevertheless, valuable mergers and acquisitions are projected to improve economies of scale for the concerned stocks. Solid growth projections for the airline industry should bolster aerospace-defense equipment stocks’ growth. Some key players from this ind ...

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. The contract also expands AA ...

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. Post this Atlas Air Worldwide congratulates members of AAR’s Component Services team. AAR's Component Services sites in Grand Pr ...

Core Viewpoint - AAR Corp. has initiated the construction of a new maintenance, repair, and overhaul (MRO) facility in Oklahoma City, which is expected to enhance its operational capacity and profitability in the growing aircraft MRO market [1][2][4]. Project Details - The new airframe MRO facility will be located near AAR's existing facility at Will Rogers World Airport and is anticipated to be operational by January 2026 [2]. - The facility will add over 80,000 square feet of hangar and warehouse space, capable of accommodating all variants of Boeing's 737 jets, including the 737-10 models [2]. Industry Prospects - The global commercial aircraft MRO market is projected to grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2029, with North America being the largest contributor to this growth [3]. - AAR Corp. is positioned to benefit from this growth as the largest independent MRO provider in North America, with a reported 18% increase in sales to commercial customers in the third quarter of fiscal 2024 compared to the previous year [3]. Recent Acquisitions and Expansions - In March 2024, AAR acquired Triumph Group's Product Support business, enhancing its specialized MRO capabilities for critical aircraft components [4]. - AAR currently operates seven MRO facilities worldwide and has begun construction of another facility in Miami, which will increase its maintenance capacity by 33% [4]. Peer Moves - HEICO's Flight Support Group reported that repair and overhaul parts and services accounted for 22% of its sales in the first quarter of fiscal 2024, with a long-term earnings growth estimate of 17.6% [5]. - Airbus Group's MRO services are designed to provide integrated aviation services, with a long-term earnings growth estimate of 12.4% [6]. - MTU Aero Engines reported revenues of $4.65 billion in 2023 for its MRO segment, reflecting a 17% increase from the previous year, with a projected 38.9% improvement in 2024 sales [7]. Price Performance - Over the past three months, AAR Corp.'s shares have increased by 8.3%, while the industry has seen an 11.8% growth [8].

Core Points - AAR CORP. has commenced the expansion of its maintenance, repair, and overhaul (MRO) facility in Oklahoma City, which is expected to be operational by early 2026 [1][2] - The new facility will add over 80,000 square feet of hangar and warehouse space, accommodating all 737 variants, including the 737-10 [2] - The expansion is supported by a maintenance commitment from Alaska Airlines, a long-term customer of AAR [2] Group 1 - The groundbreaking event was attended by over 150 representatives from AAR, Alaska Airlines, local government, and partner organizations [1] - The expansion will create 200 additional full-time jobs, which will be filled through local technical schools and workforce development programs [4] - Funding for the project includes a grant from Oklahoma legislators and rent concessions from the airport [2] Group 2 - Key speakers at the groundbreaking included AAR's Chairman, President and CEO John M. Holmes, and Alaska Airlines' Vice President of Maintenance & Engineering Don Wright [3] - Holmes emphasized the collaborative efforts that made the expansion possible, highlighting the importance of partnerships in enhancing aviation in Oklahoma [4] - The construction is being led by JE Dunn, which aims to support business growth in Oklahoma City [5] Group 3 - AAR operates globally in the aerospace and defense aftermarket solutions sector, with a presence in over 20 countries [6] - The company supports both commercial and government customers through four operating segments: Parts Supply, Repair & Engineering, Integrated Solutions, and Expeditionary Services [6]

WOOD DALE, Ill. , April 4, 2024 /PRNewswire/ -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, has announced an exclusive multi-year commercial distribution agreement with TRIUMPH's Actuation Products & Services business unit. Under the agreement, which commences in January of 2026, AAR will exclusively distribute TRIUMPH's commercial actuation product line, which includes more than 100 top-level assemblies and their subcomponents used ...

AAR Corp. (AIR) reported third-quarter fiscal 2024 adjusted earnings of 85 cents per share, which surpassed the Zacks Consensus Estimate of 84 cents by 1.2%. The bottom line improved 13.3% from the year-ago quarter’s level.The company reported GAAP earnings per share (EPS) of 39 cents compared with 62 cents in the prior-year quarter.Total SalesIn the quarter under review, AAR generated net sales of $567.3 million. The reported figure missed the Zacks Consensus Estimate of $568 million by 0.1% but increased ...

AAR Corp. (NYSE:AIR) Q3 2024 Earnings Conference Call March 21, 2024 4:45 PM ET Company Participants John Holmes - Chairman, President and CEO Sean Gillen - Chief Financial Officer Conference Call Participants Robert Spingarn - Melius Research Bert Subin - Stifel Josh Sullivan - The Benchmark Company Sam Struhsaker - Truist Securities Steve Strackhouse - RBC Capital Markets Louie DiPalma - William Blair Operator Good afternoon, everyone. Welcome to AAR’s Fiscal 2024 Third Quarter Earnings Call. We’re joined ...