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December 3, 2012
18:07 EDTAIRAAR unit awarded $143.67M government contract modification
AAR Airlift, a unit of AAR Corp., is being awarded a $143.67M option year modification for rotary wing aircraft, personnel, equipment, tools, material, maintenance and supervision necessary to perform passenger and cargo air transportation services. Work will be performed in Afghanistan, and the option will start Dec. 1, to be completed by Nov. 30, 2013.
News For AIR From The Last 14 Days
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February 24, 2015
09:33 EDTAIRAAR Corp. downgraded to Neutral from Buy at Sidoti
Sidoti downgraded AAR Corp to Neutral based on valuation.
07:46 EDTAIRAAR Corp. coverage assumed with a Neutral at Credit Suisse
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February 23, 2015
08:49 EDTAIRAAR Corp. to hold a conference call
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08:11 EDTAIRAAR Corp. expects to report pre-tax gain of $200M from TransDigm transaction
AAR (AIR) announced it has agreed to sell its Telair Cargo Group to TransDigm (TDG) for a purchase price of $725M in cash, subject to adjustments. The Telair Cargo Group is comprised of Telair International, Telair U.S., and Nordisk Aviation Products. AAR will report its Telair Cargo Group as discontinued operations beginning in the third quarter of FY 2015 and the sale is expected to close in the fourth quarter ending May 31, 2015, subject to regulatory approval. When the sale closes, AAR expects to report a pre-tax gain of approximately $200 million after expenses and fees. AAR further announced its intention to sell its unprofitable Precision Systems Manufacturing business and will report it as a discontinued operation and record an impairment charge of approximately $40 million in the third quarter of FY 2015. The company also announced today that its third-quarter results will be less than expected due to fewer flying positions in its Airlift operation, costs associated with this transaction, and bid costs for large government contracts.
08:06 EDTAIRTransDigm to acquire Telair Cargo Group from AAR Corp. for $725M
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