AAR Earns No. 1 MRO Ranking in North America, No. 3 in World
Growth helps company repeat in top spot in biennial Aviation Week survey
WOOD DALE, Illinois – AAR (NYSE: AIR) again has been named the No. 1 Airframe MRO Provider in North America and No. 3 in the world, based on an industry survey by Aviation Week, a leading source of global aerospace information.
To arrive at its rankings, Aviation Week examined 2012 revenues and airframe maintenance man-hours of MRO providers. AAR's total man-hours, at 4.6 million in 2012, represented a 33 percent increase from 2011. AAR’s revenue rose to $2.065 billion in fiscal 2012. The company anticipates a 5 to 10 percent increase in man-hours in 2013.
Adding an Aircraft Maintenance Center in Duluth, Minnesota, last year, AAR has expanded its 1MRO (SM) network to five U.S. cities, also including Miami, Indianapolis, Oklahoma City and Hot Springs, Arkansas, providing integrated, yet tailored, MRO services. AAR also has two Engineering Services hubs, in Indianapolis and Singapore.
“It is as an honor to be recognized as the top MRO in America as well as to rank among the best airframe maintenance providers in the world,” said Dany Kleiman, Aviation Services Group Vice President – Repair and Engineering, Technology Products. “We continue to look for viable opportunities to expand both domestically and internationally.”
At the recent Paris Air Show, AAR announced its letter of intent to explore establishing a technical maintenance center for commercial aircraft in Russia.
AAR also ranked No. 1 in North America in the previous biennial survey, which examined 2010 data. In the past two years, the global MRO market value grew by $7 billion and is forecast to be worth $51.6 billion in 2013, according to Aviation Week.
“The 2012 MRO figures examined in this survey reflect that the biggest MROs have become bigger — in their capabilities, footprint, labor hours and revenue,” wrote Lee Ann Tegtmeier, Aviation Week Chief Editor MRO. “If you look at their objectives for 2013 and beyond, those trends should continue, as long as they can find enough qualified maintenance personnel to accommodate their growth plans.”
AAR last year launched aggressive recruitment nationwide to staff its five U.S. aircraft repair stations. The Company prioritizes hiring military veterans, who make up approximately 20 percent of its workforce. AAR also is committed to a number of public-private partnerships to provide skills training at colleges such as Vincennes University Aviation Technology Center in Indianapolis and Olive-Harvey College in Chicago.
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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