AAR Awarded Contract for Airlift Charter Services with UN
WOOD DALE, Ill., March 19, 2015 /PRNewswire/ -- AAR (NYSE: AIR) announces that AAR Airlift has been awarded a contract by the United Nations for airlift services in Central Africa. The contract is valued at approximately $19 million.
AAR Airlift will provide passenger and cargo air charter services in support of the MONUSCO operation, the United Nations Organization Stabilization Mission in the Democratic Republic of Congo (DRC). The MONUSCO mandate includes support of the Government of the DRC in its stabilization and peace consolidation efforts.
Under the contract, AAR will provide rotary-wing aircraft, flight operations, maintenance and logistical support. Operations will begin in July 2015 and continue for a period of 3 years, including options.
"This win represents another strategic market diversification effort and complements our existing presence in Africa," said Randy J. Martinez, President and CEO, AAR Airlift. "We are particularly pleased to leverage our experience in this market to support the UN's critically important mission in Central Africa."
AAR Airlift provides aviation services in support of expeditionary operations worldwide. The Company provides passenger and cargo transport, aeromedical services, night vision operations, aerial delivery, search and rescue (SAR), and other special mission services. AAR Airlift's fleet of fixed-wing and rotary-wing aircraft serves peacekeeping organizations and government customers in Afghanistan, Africa, the Mediterranean, and the Western Pacific and Indian Oceans.
About AAR AAR is a global aerospace and defense contractor that employs more than 6,000 people in 17 countries. Based in Wood Dale, Illinois, AAR supports commercial, government and defense customers through two operating segments: Aviation Services and Technology Products. AAR's services include inventory management and parts distribution; aircraft maintenance, repair and overhaul; and expeditionary airlift. AAR's products include cargo systems and containers; mobility systems and shelters; advanced aerostructures; and command and control systems. 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, 2014. 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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