October 22, 2013
AAR Delivers Two Modified Boeing 737s to U.S. Marshals Service
Aircraft overhauled and reconfigured for prisoner transport
WOOD DALE, Illinois -- AAR (NYSE: AIR) announces it has completed delivery to the U.S. Marshals Service of two converted Boeing 737-400 aircraft that will be used for transporting prisoners.
AAR obtained the planes from an aircraft leasing company and modified them to satisfy the needs of the federal government’s Justice Prisoner and Alien Transportation System, or JPATS. The agreement included overhauling the airframe and landing gear, re-painting the aircraft, and reconfiguring the interior. Managed by the U.S. Marshals Service, JPATS is one of the largest prisoner transporters in the world, moving nearly 125,000 prisoners each year between judicial districts and correctional institutions.
"Procuring and reconfiguring these airplanes to meet the very specific needs of the U.S. Marshals Service demonstrates our wide-ranging capabilities as a one-stop shop reacting to customer requirements quickly and cost-effectively,” said Donald J. Wetekam, AAR’s Senior Vice President of Government and Defense Business Development. The Company recently performed similar services for the Colombian Air Force, delivering two aircraft converted for cargo transport.
The aircraft delivered to the U.S. Marshals Service were previously part of Corendon, a Turkish airline fleet. Each plane originally had a nazar symbol, an eye-shaped amulet common in that region of the world, installed inside the main entrance door. In converting the aircraft, AAR preserved the removed amulets, which in many cultures are believed to provide protection against the “evil eye,” and mounted them on plaques. Wetekam presented the plaques to members of the U.S. Marshals Service’s management and security teams during a special ceremony on September 30 in Oklahoma City.
About AAR
AAR is a global aftermarket solutions company that employs more than 6,000 people in over 20 countries. Based in Wood Dale, Illinois, AAR supports commercial aviation and government customers through two operating segments: Aviation Services and Expeditionary Services. AAR’s Aviation Services include inventory management; parts supply; OEM parts distribution; aircraft maintenance, repair and overhaul; engineering services and component repair. AAR’s Expeditionary Services include airlift operations; mobility systems; and command and control centers in support of military and humanitarian missions. More information can be found at www.aarcorp.com.
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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 1A, entitled “Risk Factors”, included in the Company’s Form 10-K for the fiscal year ended May 31, 2018. 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 update 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.
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AAR announces public offering of 3,000,000 shares of common stock
Wood Dale, Illinois — AAR CORP. (“AAR” or the “Company”) (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced today that it has commenced an underwritten registered public offering of 3,000,000 shares of its common stock. In addition, the Company intends to grant the underwriters a 30-day option to purchase up to an additional 450,000 shares of the Company’s common stock at the public offering price, less underwriting discounts and commissions.
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AAR announces pricing of public offering of 3,000,000 shares of common stock
Wood Dale, Illinois – AAR CORP. (“AAR” or the “Company”) (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced today the pricing of an underwritten registered public offering of 3,000,000 shares of its common stock at a public offering price of $83.00 per share. The underwriters have a 30-day option to purchase up to an additional 450,000 shares from the Company at the public offering price. The Company estimates that the net proceeds from the offering, after deducting the underwriting discounts and commissions, will be approximately $239.0 million, or $274.9 million if the underwriters exercise their option to purchase additional shares in full. The shares are expected to be delivered on or about October 2, 2025, subject to customary closing conditions.
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AAR acquires leading parts distributor ADI American Distributors
Wood Dale, Illinois — AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced today it has acquired American Distributors Holding Co., LLC (ADI), a leading distributor of components and assemblies, for $146 million in an all cash transaction funded using the Company’s existing revolving credit facility. The acquisition immediately expands AAR’s new parts Distribution with new additional product lines and extensive OEM relationships. The business will become part of AAR’s Parts Supply segment.
