$AIR (AAR Corp.)

$AIR {{ '2016-03-22T20:42:51+0000' | timeago}} • Announcement

Airplane maintenance company $AIR reported a rise in 3Q16 earnings from continuing operations driven by sales growth from its Aviation Services segment. Income from continuing operations rose to $10.7MM or $0.31 per share from $1.9MM or $0.05 per share last year. Sales grew to $402.8MM from $380.1MM.

$AIR {{ '2018-01-10T14:02:05+0000' | timeago}} • Announcement

$AIR declared a quarterly cash dividend of $0.075 per share, payable on February 5, 2018 to stockholders of record as of January 22, 2018.

$AIR {{ '2018-01-10T13:54:51+0000' | timeago}} • Announcement

$AIR's Chairman and CEO David P. Storch announced his plan to retire effective May 31, 2018. President and COO John M. Holmes was elected to become CEO effective June 1, 2018.

$AIR {{ '2017-12-21T21:38:07+0000' | timeago}} • Announcement

$AIR swung to net loss in 2Q18, hurt by the non-cash asset impairment and related charges of $54.2MM. Net loss was $22.6MM or $0.66 per share compared to net income of $12.1MM or $0.35 per share a year ago. Sales rose 6% to $449.7MM, aided by the strong sales growth in Aviation Services segment. Excluding charges, AAR Corp earned $0.35 per share.

$AIR {{ '2017-10-12T13:57:47+0000' | timeago}} • Announcement

$AIR BoD declared a quarterly cash dividend of $0.075 per share to its stockholders.  The dividend will be payable on November 3, 2017 to stockholders of record on October 23, 2017.

$AIR {{ '2017-09-25T15:26:14+0000' | timeago}} • Announcement

$AIR and Air Canada have signed a 5-year agreement to provide airframe maintenance for the airline's fleet of 34 Boeing 767 at $AIR's Miami MRO facility. The contract will commence later in 2017 and ramp up over three months.

$AIR {{ '2017-09-20T18:56:01+0000' | timeago}} • Webcast

$AIR said that on the liquidity front, the company has a liquidity position in excess of $300MM, and it will be financing the premier transaction with a specific piece of Canadian dollar based financing. $AIR added that it would expect to be a net generator of cash through the balance of the year.

$AIR {{ '2017-09-19T20:47:08+0000' | timeago}} • Announcement

Higher sales and new contract wins help aviation services provider $AIR post a 11.57% increase in its 1Q18 earning. Earnings increased to $10.6MM or $0.31 per share from $9.5MM or $0.28 per share a year earlier. Sales for the quarter jumped 8.49% to $439.2MM, helped by higher sales in the Aviation Services segment.

$AIR {{ '2017-09-19T14:52:16+0000' | timeago}} • Announcement

$AIR and Air Canada have signed a 10-year agreement to provide airframe maintenance for the airline's Airbus narrow-body fleet of A319, A320 and A321 aircraft, as well as a new five-year agreement for Air Canada's Embraer E-190 fleet. The total value of the contract over its term is estimated to be approx CAD 500MM.

$AIR {{ '2017-09-19T14:47:39+0000' | timeago}} • Announcement

$AIR has agreed to acquire two of Premier Aviation's aircraft maintenance, repair and overhaul facilities – one at Trois-Rivières Airport in Québec and one at Windsor International Airport in Ontario. Terms of the agreement were not disclosed.

$AIR {{ '2017-08-09T15:36:31+0000' | timeago}} • Announcement

$AIR received the notice to proceed on the $909MM fixed-price contract from the US Air Force for the Landing Gear Performance-Based Logistics One program. $AIR will provide total supply chain management and services. Repair work will be done in Miami and inventory supply and management will be handled in Illinois and Utah.

$AIR {{ '2017-07-19T14:54:16+0000' | timeago}} • Announcement

$AIR has expanded its relationship with Dubai-based carrier flydubai by signing a long-term contract to provide comprehensive flight-hour component support for its new Boeing 737 MAX aircraft. The airline is set to take delivery of 100 Boeing 737 MAX 8 aircraft ordered at the 2013 Dubai International Airshow by the end of 2023.

$AIR {{ '2017-07-12T19:32:04+0000' | timeago}} • Announcement

$AIR's BoD authorized the repurchase of up to $250 million of its common stock. This new authorization replenishes the company's previous program, increasing its remaining authority of $63MM back up to $250MM.

$AIR {{ '2017-07-11T22:11:35+0000' | timeago}} • Announcement

$AIR's BoD authorized the repurchase of up to $250MM of its common stock. The stock may be repurchased in the open market or in privately negotiated transactions. The repurchased stock will be held as treasury shares and may be reissued for various corporate purposes.  There is no expiration date on the stock repurchase authorization.

$AIR {{ '2017-07-11T21:17:51+0000' | timeago}} • Webcast

$AIR stated that it expects a decent performance from its MRO business in FY18. The company believes it has good alignment in terms of customers and facilities. The Rockford facility is online and it was profitable in 4Q17. $AIR is positive on the prospects in this area.

$AIR {{ '2017-07-11T21:01:34+0000' | timeago}} • Webcast

In 4Q17, $AIR recorded significant new business wins, including the award of a $909MM fixed-price contract from the US Air Force for the Landing Gear Performance-Based Logistics One program. $AIR was also awarded a multi-year component support contract with ASL Group, covering approx. 100 passenger and cargo aircraft.

$AIR {{ '2017-07-11T20:33:55+0000' | timeago}} • Announcement

$AIR said it expects to continue employing a balanced capital allocation strategy, leveraging the company's financial strength to support growth opportunities. AAR plans to supplement the growth of its integrated supply chain and MRO businesses through acquisitions.

$AIR {{ '2017-07-11T20:25:50+0000' | timeago}} • Announcement

Aviation support company $AIR reported a 5.1% annual growth in 4Q17 sales. Net profit climbed to $21.2MM or $0.62 per share from $12MM or $0.34 per share in the year-ago quarter. Sales in Aviation Services rose 5.2% YoY, and those in Expeditionary Services moved up 4.1%. Performance in 4Q17 was positively impacted by an increase in new orders.

$AIR {{ '2017-07-10T22:44:06+0000' | timeago}} • Announcement

$AIR announced that Michael D. Milligan was appointed CFO, effective September 1, 2017. He will succeed Timothy J. Romenesko, who will retire at the end of 2017.

$AIR {{ '2017-07-10T22:33:50+0000' | timeago}} • Announcement

$AIR declared a quarterly cash dividend of $0.075 per share, payable on August 2, 2017 to stockholders of record as of July 21, 2017.

$AIR {{ '2017-06-07T13:39:27+0000' | timeago}} • Announcement

$AIR has signed a multi-year component support agreement with Viva Colombia and Viva Air Peru, expanding its global footprint. AAR will provide pool support to affiliate airlines within the Viva LatinAmerica group, including VivaColombia and Viva Air in Peru. The company will make inventory available from its facilities in Miami and Chicago.

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