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 CORP. (NYSE: AIR) plans to release its fourth-quarter fiscal year 2020 financial results on July 21, 2020, after market close. A conference call to discuss these results is scheduled for the same day at 3:45 p.m. CT, which can be accessed via specific phone numbers for U.S. and international callers. A replay of the call will be available until July 27, 2020. The company, based in Wood Dale, Illinois, operates globally in the aerospace and defense sectors, providing various services including maintenance and repair.
AAR (NYSE: AIR), a provider of aviation services, has been recognized by Bloomberg Government as one of the top 200 federal contractors, ranking 93rd in the 2020 BGOV200, up from 119th in 2019. This ranking is based on fiscal year 2019 data for prime contracts awarded across U.S. federal agencies. AAR has consistently appeared on this list due to its effective solutions for government clients. The company’s government and defense services play a significant role in its operations, reinforcing its position in a competitive market.
AAR CORP. (NYSE: AIR) announced the divestiture of its aerospace composite manufacturing business to an affiliate of Architect Equity. This decision aligns with AAR's multi-year strategy to streamline operations and enhance focus on core services. The Composites business, which was unprofitable in fiscal year 2020, employs around 150 at its Florida and California facilities. The deal is expected to close in Q3 2020. Cost reduction measures, including furloughing 1,000 employees and facility consolidations, aim for improved margins as demand recovers from COVID-19's impact.
AAR (NYSE: AIR) has been named a preferred distributor for BASF's Maintenance Repair and Overhaul (MRO) services concerning Deoxo™ aircraft cabin ozone/VOC converters. This collaboration, announced on June 9, 2020, aligns with BASF's updated abbreviated component maintenance manuals (ACMMs) for the Airbus A320 and A330/A340 models. These manuals redefine maintenance procedures to ensure optimal performance of the converters, which help mitigate ozone exposure in aircraft cabins. This partnership aims to enhance service availability and compliance with regulatory standards.
Summary not available.
AAR (NYSE: AIR) has secured a firm-fixed-price contract worth $5.1 million from the US Air Force to provide contractor logistical support for 18 AN/MSN-7 Communication Central Systems over five years. This contract covers program management, supply of parts, depot-level maintenance, and installation services. The AN/MSN-7 system is crucial for air traffic control during military operations. This award underlines AAR's commitment to sustaining vital military communications infrastructure and enhancing operational readiness for US Air Force missions.
Summary not available.