WOOD DALE, Ill., Jan. 23, 2013 /PRNewswire/ -- AAR (NYSE: AIR) announced today that the Company's Airlift business was selected to renew its support in Western and Central Africa. The renewal is valued at approximately $9 million in revenue and will run through mid-June 2013. AAR Airlift supports this requirement as a subcontractor to ACADEMI, LLC.
The contract renewal calls for AAR to transport personnel and supplies using two fixed-wing aircraft to support U.S. Army Space and Missile Defense Command (SMDC) and U.S. Department of Defense Counter Narco-Terrorism Program Office (CNTPO) operations.
"This renewal signals the confidence our dedicated pilots and support teams have earned by providing reliable support in austere environments," said Randy J. Martinez, President, AAR Airlift Group. "We are very proud to provide airlift support for the U.S. Government and its allies in this region as an integral part of our nation's extended transportation and logistics capability."
AAR's Airlift Group provides expeditionary airlift services for defense, security and humanitarian relief operations for the U.S. Department of Defense (DoD) and other U.S. agencies in three regions around the world, transporting personnel, supplies and mail over land and at sea.About AAR AAR is a global aerospace and defense contractor that employs more than 6,000 people in 17 countries. Based in Wood Dale, Illinois, AAR supports commercial, government and defense customers through two operating segments: Aviation Services and Technology Products. AAR's services include inventory management and parts distribution; aircraft maintenance, repair and overhaul; and expeditionary airlift. AAR's products include cargo systems and containers; mobility systems and shelters; advanced aerostructures; and command and control systems. 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
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV