March 09, 2016
AAR Receives FAA AMT Diamond Award of Excellence
Aircraft Component Services – New York snags honor for 10thconsecutive year
GARDEN CITY, New York – AAR Aircraft Component Services – New York (ACS-NY) announces it has received the Federal Aviation Administration AMT Diamond Award of Excellence for its aviation maintenance technician (AMT) training program for the tenth consecutive year.
The prestigious award recognizes aviation maintenance companies that initiate highly effective training programs aimed at improving safety, quality, reliability and technical knowledge that exceed standard FAA regulatory requirements. AAR’s North American component repair shop has built a world-class operations and maintenance team by continuously investing in its training program.
“AAR’s technicians are among the most skilled, trained and talented in the aviation industry,” said Ken Hein, Senior Vice President, AAR Supply Chain. “Our technicians continuously develop innovative processes to support the operation to exceed customers’ expectation for safety, quality and reliability. I thank them for their ongoing commitment to safety and operational excellence.”
To qualify for a Diamond Award of Excellence, 100 percent of eligible technicians must complete and pass specialized, continuous training in aviation maintenance, regulations and FAA rules annually. All of ACS-NY’s eligible employees received an individual Aviation Maintenance Technician (AMT) Award from the FAA for 2015. To receive an individual AMT Award, a technician must complete a minimum of 12 hours of training during the year, which includes a two-hour course conducted through the FAA website (www.faasafety.gov).
The AMT Awards program was first created by the FAA in 1991 to encourage technicians and employers to receive or promote initial and recurrent maintenance training. The Diamond Award of Excellence is the FAA’s highest award for aviation maintenance technicians and employers.
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.
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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.
