AAR Announces the Sale of 10 737-400 Aircraft to MAS from its Joint Venture Portfolio

 AAR Announces the Sale of 10 737-400 Aircraft to MAS from its Joint Venture
                                  Portfolio

Company continues to make progress on its stated goal to reduce investment in
leased aircraft

PR Newswire

WOOD DALE, Ill., Nov. 29, 2012

WOOD DALE, Ill., Nov. 29, 2012 /PRNewswire/ --AAR (NYSE: AIR) and its joint
venture partner have entered into an agreement to sell 10 Boeing 737-400
aircraft to Malaysian Airline System Berhad (MAS). The aircraft have been on
lease to MAS since they were acquired by the joint venture in July 2007.

The sale is consistent with the Company's stated goal to reduce its investment
in aircraft leasing. At its peak in 2007, the Company held 31 aircraft in
joint ventures and 11 aircraft in its wholly-owned portfolio. Upon completing
the sale to MAS, AAR's portfolio will include six aircraft held in joint
ventures and two aircraft that are wholly-owned.

While AAR has reduced its portfolio of leased aircraft, it will remain active
in the aircraft sales and re-marketing business where the Company has an
established market presence and a successful track record.

The transaction is expected to be completed during AAR's 2013 fiscal third
quarter with net cash proceeds of approximately $20 million, and will record a
slight gain. Due to joint venture accounting, there will be no impact on
sales.

About AAR
AAR is a leading provider of value-added products and services to the
worldwide aerospace and government and defense industries. With facilities and
sales locations around the world, AAR uses its close-to-the-customer business
model to serve aviation and government/defense customers through two operating
segments: Aviation Services and Technology Products. More information can be
found at www.aarcorp.com.

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, 2012. 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.

SOURCE AAR

Website: http://www.aarcorp.com
Contact: Chris Mason, Communications Director | (630) 227-2062 |
chris.mason@aarcorp.com
 
Press spacebar to pause and continue. Press esc to stop.