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Press release

February 20, 2006

AAR Selected to Provide Component Support for ATR Regional Aircraft

SINGAPORE /PRNewswire-FirstCall/ -- AAR CORP. (NYSE: AIR) today announced that its component repair operating unit, AAR Aircraft Component Services, and France-based regional aircraft manufacturer ATR have signed a multi-year agreement under which AAR will repair and overhaul rotable components for ATR regional turboprop aircraft.

The component support agreement will enable ATR to offer cost effective, reliable and responsive rotable component repair and overhaul support to operators of ATR 72 and 42 regional turboprops. The program is designed to help ATR provide its customers with cost-effective and timely component support.

"We look forward to building our relationship with ATR as they expand their worldwide fleet of ATR 72 and 42 aircraft," said Rob Bruinsma, General Manager of AAR Aircraft Component Services. "AAR's internal capabilities will integrate seamlessly with the services offered by ATR to minimize aircraft downtime and lower operating costs."

Maintenance and support requirements for regional aircraft are expected to increase significantly as the worldwide fleet continues to grow and mature. AAR is well positioned to meet these requirements with a broad range of services, including parts supply, logistics, component repair, airframe maintenance and landing gear overhauls -- offered both as stand-alone services and integrated as complete nose-to-tail support programs.

About AAR Aircraft Component Services

AAR Aircraft Component Services services rotable components with AOG service -- 24 hours a day, 365 days a year at its state-of-the-art facilities, which are equipped to repair, overhaul, and maintain more than 22,000 aircraft parts.

About AAR CORP.

AAR is a leading provider of products and value-added services to the worldwide aviation/aerospace industry. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve airline and defense customers through four operating segments: Aviation Supply Chain; Maintenance, Repair and Overhaul; Structures and Systems and Aircraft Sales and Leasing. More information can be found at http://www.aarcorp.com.

About ATR

Toulouse, Southern France-based regional aircraft manufacturer ATR is the world leader in the 50 to 70-seat turboprop market. ATR is an equal partnership between Alenia Aeronautica (Finmeccanica group) and EADS. ATR is certified ANSI/ISO/ASQ Q 9001:2000 and EN/AS/JISQ 9100, the worldwide quality standard in the field of aeronautics. http://www.atraicraft.com

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 7, entitled "Factors Which May Affect Future Results", included in the Company's May 31, 2005 Form 10-K. 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 publicly release the result of any revisions that may be made to 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.

SOURCE AAR CORP.


CONTACT: Chris Mason, Director of Corporate Communications, of AAR CORP., +1-630-227-2062, chris.mason@aarcorp.com

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