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) has entered into an exclusive Distribution and License Agreement with Chromalloy's subsidiary BELAC for PMA high pressure turbine blades for PW4000 engine platforms. The multi-year contract will maintain guaranteed stock levels for in-demand T1 blades.
This agreement expands upon an existing partnership where AAR distributes BELAC's T1 and T2 turbine blades for the CF6-80C2 engine platform. The collaboration aims to enhance supply chain reliability and provide cost-saving solutions to AAR's global customer base while offering additional engine material options.
AAR CORP. (NYSE: AIR) has expanded its Supplier Capabilities Contract with Defense Logistics Agency (DLA) Aviation to include distribution support for select Unison parts. The multi-year agreement leverages AAR's exclusive distribution capabilities for sole source spare parts manufactured by Unison, supporting various military aircraft platforms.
This strategic expansion builds upon AAR's landmark achievement in 2022 when it became the first non-OEM awarded a 20-year base Supplier Capabilities Contract with the DLA. The partnership aims to provide comprehensive supply chain management support and reduce supply volatility through improved material availability for the Department of Defense and U.S. allies.
AAR Corp (NYSE: AIR) reported strong Q2 FY2025 results with record sales of $686.1 million, representing a 26% increase year-over-year, including 12% organic growth. The company saw significant expansion in commercial new parts distribution and USM activities, with Parts Supply segment growing 20% and Repair & Engineering segment up 57%.
However, AAR reported a GAAP net loss of $30.6 million ($0.87 per share), primarily due to $57.1 million in after-tax charges related to FCPA settlement. Adjusted EPS was $0.90, up 11% from prior year. Adjusted EBITDA increased 42% to $78 million, with margins expanding to 11.4% from 10.1%.
The company announced new distribution agreements with Chromalloy and Whippany Actuation Systems, extended its Airinmar contract with Singapore Airlines, and formed a joint venture with Air France. AAR also agreed to divest its Landing Gear Overhaul business for $51 million to focus on higher-margin activities.
AAR (NYSE: AIR) has been named one of America's Most Responsible Companies 2025 by Newsweek in collaboration with Statista. The recognition is based on a comprehensive evaluation of Environmental, Social, and Governance (ESG) factors, analyzing over 30 KPIs and public perception of corporate social responsibility efforts.
The company recently released its 2024 Sustainability Report on November 18, 2024, highlighting its progress in ESG initiatives, employee engagement, and community activities. AAR's corporate responsibility framework includes a comprehensive Ethics and Compliance program, featuring annual training, a Compliance Champion Network, and Executive Compliance Committee. The company's commitment to 'Doing It Right®' is supported by various compliance policies, including the Code of Conduct, Supplier Code of Conduct, and Global Anti-Corruption Policy.
AAR CORP. (NYSE: AIR) has announced the sale of its Landing Gear Overhaul business to GA Telesis for $51 million. The transaction, expected to close in Q1 2025, is part of AAR's strategic portfolio optimization plan and will be immediately accretive to margins and earnings. The deal includes AAR's Miami-based Landing Gear Overhaul operations, which provides maintenance, repair, and overhaul services to commercial and government customers.
While divesting this non-core business, AAR will maintain its position as prime contractor for the United States Air Force Landing Gear Performance Based Logistics contract, with GA Telesis continuing the maintenance services as a subcontractor.
AAR Corp (NYSE: AIR) has reached resolutions with the DOJ and SEC regarding FCPA violations from transactions in Nepal and South Africa during 2016-2017. The company will pay a total of $55.6 million in penalties, forfeiture, and interest, which will be recorded as a one-time charge in Q2 FY2025. The violations were primarily conducted by a former subsidiary employee and former third-party agents.
After self-reporting the potential violations in 2019, AAR entered a Non-Prosecution Agreement with the DOJ and accepted a cease-and-desist order from the SEC. The company plans to fund the payments through cash on hand and credit facility borrowings. AAR has implemented extensive enhancements to its global compliance program since self-reporting.
AAR CORP. (NYSE: AIR) and Air France Industries KLM Engineering & Maintenance (AFI KLM E&M) have signed an agreement to form a joint venture in the Asia-Pacific region. Located in AAR's Chonburi, Thailand facility, the venture will focus on nacelle maintenance, repair, and overhaul services for next-generation aircraft, including on-wing/on-site inspections and parts availability.
This marks their second joint venture, following their 2021 collaboration in the Americas region through Triumph Product Support, which AAR acquired earlier this year. The new partnership aims to combine an independent MRO with a global airline and MRO provider to deliver enhanced service and support for operators. The formation is subject to regulatory approval and will expand their worldwide network for nacelle services.
AAR CORP (NYSE: AIR) announced it will release its second quarter fiscal year 2025 financial results on January 7, 2025, after the NYSE trading session closes. The company will host a conference call at 4 p.m. Central time on the same day to discuss the results. A webcast and slides will be available for viewing, and participants can register for phone access. The results will cover the period ended November 30, 2024. An on-demand replay will be accessible shortly after the call and remain available for approximately one year.
AAR (NYSE: AIR) has been named one of America's Dream Employers 2025 by Forbes in collaboration with Statista. The recognition stems from an independent survey gathering over 266,000 data points from college students and employees of companies with 1,000+ U.S. workers. Selection criteria included frequency of being named a 'dream employer' and employee recommendation rates.
The company has enhanced its employee experience through expanded internship programs, a new wellness pathway, and values workshops promoting inclusive culture. AAR was also recognized by Newsweek as one of America's Greatest Workplaces for Mental Wellbeing 2024 and America's Greatest Workplaces for Parents & Families 2024.
AAR CORP (NYSE: AIR) has published its 2024 Sustainability Report, showcasing the company's ongoing commitment to environmental, social, and governance initiatives. The report highlights the company's continued tracking of Scope 1 and 2 emissions, which underwent third-party verification. It also details employee and community engagement activities, demonstrating AAR's dedication to creating positive outcomes for stakeholders.
Jessica A. Garascia, AAR's Senior Vice President and General Counsel, emphasized the report's focus on sustainability management and recent improvements. The complete report is accessible on AAR's website sustainability page.