January 11, 2023
John M. Holmes Named Chairman of the Board of Directors of AAR CORP.
Wood Dale, Illinois – AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, today announced that John M. Holmes, President and Chief Executive Officer of AAR has been named Chairman of the Board of Directors following the retirement of David P. Storch, the Company’s Chairman for 18 years. Holmes will continue as President and Chief Executive Officer of the Company.
Holmes joined AAR in 2001 as Director of Mergers and Acquisitions. In 2003, Holmes moved into operations, becoming General Manager of AAR’s Parts Supply business and progressively assuming responsibility of other businesses before being appointed as President and Chief Operating Officer in 2017. In 2018, he was named President and Chief Executive Officer of AAR, the third since the company’s founding in 1955.
Under Holmes’s leadership, AAR has achieved substantial growth in sales and profitability, while successfully navigating the Company through the COVID-19 pandemic. As Chairman, Holmes will focus on strategies to drive continued growth while maintaining the Company’s strong culture and core values.
Storch, the second of the Company’s only three CEOs, has served as a member of the Board since 1989 and as Chairman of the Board of AAR since 2005. He retired as Chief Executive Officer in 2018. Under Storch’s leadership, the Company grew to the leading independent provider of aviation services globally. Mr. Storch instilled a culture of integrity, quality, innovation, execution, customer focus, and entrepreneurship. These core values serve as a lasting foundation for the continued success and growth of AAR.
About AAR
AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries. Headquartered in the Chicago area, AAR supports commercial and government customers through two operating segments: Aviation Services and Expeditionary Services. Additional information can be found at aarcorp.com.
Contact
Dylan Wolin
Vice President, Strategic & Corporate Development and Treasurer
+1-630-227-2017
dylan.wolin@aarcorp.com
Related news
See all
January 26, 2023
AAR awarded to Newsweek’s America’s Most Responsible Companies 2023 list
Wood Dale, Illinois — AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, has been awarded to Newsweek’s list of America’s Most Responsible Companies 2023. This prestigious award is presented by Newsweek and Statista Inc., the world-leading statistics portal and industry ranking provider. The awards list can currently be viewed on Newsweek’s website.
December 22, 2022
AAR increases size and extends maturity of revolving credit facility
Wood Dale, Illinois — AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, recently entered into a $620 million unsecured revolving credit facility. The credit facility is a $20 million increase from the prior facility and extends the maturity of the agreement from September 2024 to December 2027.
December 20, 2022
AAR reports second quarter fiscal year 2023 results
Wood Dale, Illinois, December 20, 2022 — AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, today reported second quarter fiscal year 2023 consolidated sales of $469.8 million and income from continuing operations of $22.5 million, or $0.64 per diluted share. For the second quarter of the prior year, the Company reported sales of $436.6 million and income from continuing operations of $20.8 million, or $0.58 per diluted share. Our adjusted diluted earnings per share from continuing operations in the second quarter of fiscal year 2023 were $0.69, compared to $0.53 in the second quarter of the prior year.
