Welcome to our dedicated page for AAR news (Ticker: AIR), a resource for investors and traders seeking the latest updates and insights on AAR stock.
AAR Corp. (NYSE: AIR), headquartered in Wood Dale, Illinois, is a prominent global aerospace and defense contractor with operations in over 20 countries and a workforce of more than 6,500 employees. AAR provides an extensive range of services and products tailored to the aviation and defense sectors. The company's core operations are divided into two main segments: Aviation Services and Expeditionary Services.
Aviation Services encompasses maintenance, repair, and overhaul (MRO) services, parts supply, and integrated solutions for both commercial and government customers. AAR is a leading provider of aftermarket support, ensuring the longevity and reliability of aircraft through advanced repair solutions and efficient supply chain management. The recent acquisition of Triumph Group's Product Support business has significantly enhanced AAR's capabilities in the MRO sector, particularly in the Asia-Pacific region.
Expeditionary Services involves providing mobility solutions, including airlift operations, for government and defense clients. This segment supports the U.S. Department of Defense and various international programs, ensuring the seamless movement of personnel and equipment.
AAR's entrepreneurial culture emphasizes innovation and efficiency, with a focus on being 'close-to-the-customer.' This approach has led to numerous strategic partnerships and contract extensions, such as the multi-year agreements with Philippine Airlines and Cebu Pacific, solidifying AAR's presence in the global aviation market.
Financially, AAR has demonstrated robust performance, with recent quarterly sales reaching $567 million, reflecting a 9% increase over the previous year. The company continues to prioritize growth through strategic acquisitions and expanding its service offerings, as evidenced by the recent extension of its V2500 engine component distribution agreement with Sumitomo Precision Products.
AAR's commitment to environmental, social, and governance (ESG) practices has also been recognized, earning accolades such as America's Best Climate Leaders 2024 and inclusion in Newsweek's America's Greatest Workplaces for Diversity 2024.
For investors seeking comprehensive and up-to-date information on AAR Corp.'s performance and developments, AAR remains a pivotal entity in the aerospace and defense industry, championing both operational excellence and sustainable growth.
AAR CORP (NYSE: AIR) has published its 2024 Sustainability Report, showcasing the company's ongoing commitment to environmental, social, and governance initiatives. The report highlights the company's continued tracking of Scope 1 and 2 emissions, which underwent third-party verification. It also details employee and community engagement activities, demonstrating AAR's dedication to creating positive outcomes for stakeholders.
Jessica A. Garascia, AAR's Senior Vice President and General Counsel, emphasized the report's focus on sustainability management and recent improvements. The complete report is accessible on AAR's website sustainability page.
AAR CORP. (NYSE: AIR) has signed an exclusive multi-year distribution agreement with Whippany Actuation Systems, a TransDigm Group business. The agreement covers global distribution of all components and sub-assemblies in Whippany's actuation product line, expanding AAR's offerings on key platforms including Boeing 737 and 777. The partnership aims to compress lead times, add stocking locations, and enhance customer service for Whippany end users by streamlining the supply chain and improving product delivery.
AAR CORP. (NYSE: AIR) has signed a multi-year engine parts supply agreement with Chromalloy to become the exclusive distributor of PMA parts for CF6-80C2 engine high pressure turbine Stage 1 and Stage 2 turbine blades to the global aftermarket. The three-year agreement includes some account coverage exclusions due to Chromalloy's existing customer agreements. AAR has placed an initial provisioning order to ensure inventory availability for global distribution of these components.
AAR CORP. (NYSE: AIR), a leader in aviation services, has earned the 2025 Military Friendly® Gold Employer and Military Friendly® Spouse Employer designations. Evaluated by VIQTORY using public data and a proprietary survey, AAR was among 1,200 participating companies. Criteria included recruitment, retention, turnover, and promotion of veterans and military employees. John M. Holmes, AAR's CEO, expressed pride in the recognition, highlighting the company's commitment to military personnel. AAR will be featured in G.I. Jobs® magazine and on MilitaryFriendly.com. Additionally, AAR was recognized by Military Times as a Best for Vets employer.
Trax, a leading provider of paperless aviation maintenance software, has announced the successful transition of WestJet Airlines to a paperless and mobile fleet maintenance operation. This implementation includes the web-based eMRO product, eMobility apps, and Trax Cloud hosting, enhancing users' ability to work from anywhere on mobile devices.
WestJet has integrated additional Trax solutions such as QuickTurn, TaskControl, and Line Control apps to further improve their operations. The eMRO system, combined with mobile apps, allows users to access documentation, view maintenance tasks, receive real-time updates, and utilize integrated materials modules.
This implementation marks the continued expansion of Trax's customer base using its full range of applications and technology services for digital aviation maintenance.
AAR CORP. (NYSE: AIR) has been awarded a five-year contract by the U.S. Navy's Naval Air Systems Command (NAVAIR) for engine depot maintenance and repair of its P-8A Poseidon Aircraft fleet. The contract has an aggregate ceiling value of approximately $1.2 billion. Starting October 2024, AAR, in partnership with Delta TechOps, will provide program management, supply chain management, engineering support, and maintenance services to enhance engine asset availability.
This contract follows a recent award for P-8A airframe maintenance and aligns with AAR's strategy to grow its commercial derivative business. It is expected to increase engine part sales in the Company's Part Supply segment. The partnership aims to support the U.S. Navy's maritime patrol and reconnaissance mission through comprehensive P-8A maintenance and repair services.
AAR CORP.'s subsidiary Airinmar has extended its repair cycle management services contract with Singapore Airlines. The agreement covers Airinmar's full scope of services, including repair order management, quote management, turnaround time (TAT) management, repair cost value engineering, component warranty recovery, and TAT guarantee enforcement. Airinmar will continue using its proprietary online systems to optimize Singapore Airlines' repair order status management and consolidate repair quotations.
Airinmar has been providing these services to Singapore Airlines since 2005. The extension aims to support the airline with repair cost reduction and component availability across their passenger and cargo fleets. Matt Davies, Airinmar's General Manager, expressed pride in delivering their full range of services to Singapore Airlines and continuing their long-term relationship.
AAR CORP (NYSE: AIR) reported strong first quarter fiscal year 2025 results, with consolidated sales of $661.7 million, up 20% from the prior year. The company achieved net income of $18.0 million, or $0.50 per diluted share, compared to a net loss in Q1 FY2024. Adjusted diluted earnings per share increased 9% to $0.85.
Key highlights include:
- 20% sales growth in both commercial and government businesses
- 26% organic growth in new parts distribution
- Improved adjusted operating margin from 7.3% to 9.1%
- Multiple new contract awards, including two $1.2 billion IDIQ contracts from NAVAIR
AAR expects continued growth and margin expansion across its commercial and government businesses, driven by strong demand for its services and the integration of the Product Support acquisition.
AAR CORP. (NYSE: AIR) has been awarded a five-year contract by the U.S. Navy's Naval Air Systems Command (NAVAIR) to perform P-8A Poseidon depot airframe maintenance and depot field team support. The contract has an aggregate ceiling value of approximately $1.2 billion and covers services for the U.S. Navy, government of Australia, and foreign military sales customers.
AAR will provide scheduled and unscheduled maintenance, in-service repair, technical directive incorporation, airframe modifications, and aircraft-on-ground (AOG) support. This follow-on contract maintains AAR's position as a leader in commercial derivative airframe maintenance for the U.S. Department of Defense and supports Navy readiness.
AAR CORP. (NYSE: AIR) and the U.S. Defense Logistics Agency (DLA) Land and Maritime have signed a Supply Chain Alliance charter, formalizing their commitment to strengthen joint support for the nation's warfighter. This alliance advances a longstanding partnership and aims to enhance responsiveness, reduce customer wait time, and improve administrative lead time.
The official partnership provides AAR with a dedicated resource within the DLA to expedite contract award and execution processes. This is expected to enhance AAR's position in supporting OEM customers through increased efficiencies, including a streamlined contracting experience, reduction in labor hours, expedited product delivery, and opportunities for process improvement.
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