Welcome to our dedicated page for AAR news (Ticker: AIR), a resource for investors and traders seeking the latest updates and insights on AAR stock.
AAR Corp. reports developments across its aerospace and defense aftermarket services business for commercial airlines, government operators, MROs, and OEMs. Recurring news includes operating and financial results, parts supply agreements, aircraft maintenance and component repair activity, government logistics support contracts, and updates to engineering, certification, and aviation software capabilities.
The company’s current reporting structure includes Parts Supply; Repair, Engineering, and Software; Government Solutions; and Legacy Commercial Programs. Company updates also cover completed acquisitions such as Aircraft Reconfig Technologies, distribution relationships for aircraft and engine components, and software platforms including Trax, Aerostrat, and Airvoyant.
AAR (NYSE: AIR) has secured a ten-year, $365 million contract with the U.S. Air Force Life Cycle Management Center to support F-16 aircraft for the United States Air Forces in Europe (USAFE). This contract will involve aircraft depot-level maintenance and repair, including avionics and structural services. AAR aims to enhance fleet readiness by utilizing its global sustainment infrastructure. The company views this award as a further step in its strategic expansion into government markets.
AAR CORP. (NYSE: AIR) will announce its second quarter financial results for fiscal year 2022, ending November 30, 2021, on December 21, 2021, after the NYSE trading session. A conference call is scheduled for the same day at 3:45 p.m. CT to discuss the results, accessible via specific phone numbers. A replay will be available until December 27, 2021. AAR provides aerospace and defense aftermarket solutions globally, operating in over 20 countries, covering Aviation and Expeditionary Services.
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AAR CORP. (NYSE: AIR) will participate in the 2021 Baird Global Industrial Conference on November 9, 2021, from 9:15 a.m. to 9:45 a.m. CST. The event will be held virtually, with a live video webcast accessible on the Company's website at aarcorp.com. After the conference, an archived version of the webcast will be available for replay. AAR is a leading aerospace and defense aftermarket solutions provider, operating in over 20 countries and offering services in Aviation and Expeditionary Services.
AAR (NYSE: AIR) announced the appointment of Lori Knudson as Vice President and Chief Ethics and Compliance Officer, effective October 20, 2021. Knudson will report to General Counsel Jessica Garascia and will oversee AAR’s compliance function, enhancing the company's commitment to ethical standards. Previously, she held a Senior Vice President role at Aegion Corporation, managing compliance and risk. AAR's executives expressed confidence in her ability to foster a strong culture of compliance within the organization.
AAR (NYSE: AIR) announced a five-year renewal of its contract with flydubai for power-by-the-hour (PBH) component pool and repair support for the airline's Next-Generation Boeing 737 fleet. This partnership, which began in 2016, underscores flydubai's trust in AAR's services and their pivotal role in the airline's operations. AAR's VP of Integrated Solutions expressed excitement about the ongoing partnership, emphasizing growth as flydubai expands its services. The renewal highlights AAR's commitment to providing solid aviation support in the rapidly growing Middle Eastern market.
On October 5, 2021, AAR (NYSE: AIR) announced a new fellowship program with Rock Valley College, aimed at addressing future maintenance demands in aviation. Ten students will receive cash awards for tuition and fees, requiring a two-year commitment to work at AAR’s Rockford MRO facility post-graduation. This initiative is part of AAR's EAGLE Career Pathway Program, emphasizing five core values: Ethics, Airworthiness, Greatness, Leadership, and Engagement. AAR aims to enhance workforce skills in both technical and leadership areas.
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AAR CORP. (NYSE: AIR) reported first quarter Fiscal Year 2022 sales of $455.1 million, up 14% year-over-year. The company achieved GAAP diluted earnings per share of $0.31, a significant recovery from a loss of $(0.40) in the previous year. Adjusted diluted EPS rose 206% to $0.52. Cash flow from operating activities was $18 million. Sales to commercial customers surged 53%, while government sales dipped 17%. Despite challenges related to U.S. operations in Afghanistan, new contract awards signal potential growth ahead.
AAR (NYSE: AIR) has extended its power-by-the-hour (PBH) component support contract with Volotea, which began in 2016. The partnership has grown from four A319 aircraft to nearly 40 A320 family aircraft. The new agreement will enhance logistics and support operations across Volotea's 17 European bases, ensuring efficient component repair cycles and inventory access. Volotea's COO emphasized the value and reliability of AAR’s services, while AAR’s VP noted their capability to support Volotea’s expansive growth across over 100 cities in Europe.