September 02, 2016
AAR Expands Reach in Europe with Enter Air PBH Support Contract
Low-cost, long-distance carrier selects AAR to support its B737 fleet
WOOD DALE, Illinois – AAR (NYSE: AIR), a leading provider of aircraft maintenance and integrated supply chain solutions worldwide, has signed a long-term, multimillion-dollar agreement with Polish charter carrier Enter Air to provide full power-by-the-hour (PBH) component inventory management and repair services on 19 Boeing 737-series aircraft, including the 737CL and NG.
AAR will assume responsibility for nose-to-tail management of components and repairs on the fleet for Enter Air, a low-cost carrier based in Warsaw, Poland, that flies to 30 countries in Europe, Africa and the Middle East. AAR will tap into its global supply chain network, including its hub in Brussels that provides AOG and power-by-the-hour support for airlines in Europe, the Middle East and Africa.
AAR’s European footprint also includes a component repair facility in Amsterdam and Airinmar, a repair cycle management subsidiary based in Berkshire, England. Earlier this year, AAR announced a new International Sales Team based in Gatwick, England, that has spearheaded the rapid growth of AAR’s PBH offerings in Europe and beyond.
“We are pleased to partner with Enter Air to optimize its fleet performance, increase operational efficiencies and manage costs as the airline continues to grow,” said Deepak Sharma, President, AAR International Supply Chain.
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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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.
