aar corp (AIR) Key Developments
AAR Corp. Announces to Transfer Hot Springs, Ark., MRO Operations to Oklahoma City
Jun 30 15
AAR announced that it will close its MRO facility in Hot Springs, Ark., and transfer operations to its Oklahoma City, Okla., facility as part of the Company's efforts to optimize its assets and improve return on invested capital for shareholders. In response to overcapacity in North America, the company will locate maintenance for regional aircraft in Oklahoma City by August to better align the capacity of the company's 1MRO Network with current market demand. The employees working the two heavy maintenance lines in the 60,000-square-foot facility in Hot Springs will be offered employment at other the company facilities. Customers should expect the same high level of quality and performance throughout the company's five remaining facilities in the Company's MRO network.
AAR and South African Airways Technical, South African Airways Signs Memorandum of Understanding to Establish Joint Venture Partnership
Jun 16 15
AAR and South African Airways Technical, South African Airways have signed a Memorandum of Understanding to establish a joint venture partnership to reduce costs and increase operational efficiencies of the airline's fleet. The joint venture will also focus on growing SAAT's MRO services to third-party customers/airlines across the continent. Under the agreement, AAR will provide operational analysis and technical assistance for MRO and warehouse facilities and integrate IT solutions including AAR's 1MRO Software Suite. AAR has a global reputation in the aviation sector for improving operational efficiencies and turn times, as well as lowering costs through its customer-centric solutions. AAR also will support expansion of SAAT's component repair capabilities, including landing gear, and potentially support a new MRO facility in West and Central Africa to meet growing regional travel in sub-Saharan Africa and increasing international travel to the continent. In addition to being the independent MRO in the United States, AAR's 1MRO Network also includes a component repair shop in Amsterdam and a landing gear overhaul facility in Malaysia. AAR was recently named Best Airframe MRO Provider Worldwide by ATE&M, the third honor in the past four years.
AAR Corp. Presents at Sanford C. Bernstein & Co.'s Industrials and Basic Materials Summit 2015, May-07-2015
May 6 15
AAR Corp. Presents at Sanford C. Bernstein & Co.'s Industrials and Basic Materials Summit 2015, May-07-2015 . Venue: New York, New York, United States.
AAR Receives New Contract from Bell Helicopter Textron Inc. to Provide Logistics Support for T64 Engines
Apr 23 15
AAR announced that Bell Helicopter Textron Inc. awarded its Defense Systems & Logistics (DS&L) business unit a contract providing warehouse and logistics services in support of upgrading T64 engines for the Bell V-280 Valor technical demonstrator aircraft. The two-year agreement is the first between the global aerospace and defense contractor AAR and Bell Helicopter, producer of commercial and military aircraft. AAR will support this effort from its logistics operation located in Havelock, N.C. The Bell V-280 Valor is a third-generation tiltrotor aircraft participating in the U.S. Army s Future Vertical Lift (FVL) program. The V-280 Valor design was selected by the U.S. Army for the Joint Multi-Role Technology Demonstrator (JMR-TD) phase to serve as a precursor to FVL, a program which will create the next generation of vertical lift aircraft for the U.S. military. Bell Helicopter anticipates using a version of the Future Affordable Turbine Engine (FATE) in the production version of the V-280 Valor.
AAR Corp. Declares Quarterly Cash Dividend, Payable on or Before May 13, 2015
Apr 15 15
AAR Corp. announced that its board of directors at its regularly scheduled meeting declared a quarterly cash dividend of $0.075 per share to its stockholders. The dividend will be payable on or before May 13, 2015, to stockholders of record as of the close of business on April 29, 2015. Future cash dividends will be subject to the approval of the board of directors.