Footnotes/references Financials as of May31,2023[update]. References:[1]
AAR Corp. is an American provider of aircraft maintenance services to commercial and government customers worldwide. The company is headquartered in Wood Dale, Illinois, a Chicago suburb. The company employs about 6,000 people, operating in about 30 different countries. John Holmes is the current CEO.[2]
The company was founded by Ira Allen Eichner in 1951, to supply radios and other equipment to the commercial aviation industry.[4] I.A. Allen Industrial was incorporated in 1955, renamed Allen Aircraft Radio (AAR) in 1962, and became AAR CORP. in 1970.[4] Also, in 1969, AAR began its aircraft maintenance business in Oklahoma City. In 1965, AAR expanded to Europe and opened a Singapore office in 1982.[5]
AAR organized its Aircraft Turbine Center, Inc. in 1979 after future CEO David P. Storch, Eichner's son-in-law, joined the company.[4]
In 2016, AAR Corp opened its Rockford, Illinois hanger, which AAR Corp is using to guide its current projects in Miami and Oklahoma City to ensure smoother start-ups.[6]
David P. Storch was CEO from 1996 to 2018. In 2018, John M. Holmes became CEO.[7]
In 2017, AAR was chosen as the prime contractor for a 15-year, $909 million landing gear award to provide total supply-chain management to support all U.S. Air Force and contractor requisitions received for all C-130, KC-135 & E-3 landing gear parts.[8]
Landing gear maintenance at Miami airport
In September 2019, the U.S. Naval Air Systems Command awarded AAR a $118M contract for procuring, modifying, and delivering two C-40 aircraft to the U.S. Marine Corps.[9]
During the Trump administration, AAR quadrupled its lobbying expenditures.[10] The company spent large sums at Trump-owned properties with the intent to get Trump to view the company more favorably.[10] From the time Trump took office until October 2020, AAR obtained 10 new federal contracts worth a total of $1.35 billion.[10]
AAR CORP trainees at the Miami airport
In April 2021, AAR signed a multi-year agreement with United Airlines to provide heavy maintenance services in Rockford, Illinois. AAR plans to add up to 250 more aviation maintenance technician (AMT) jobs at the facility to meet increased demand from United.[11]
AAR announced its plans to buy Triumph's (TGI) Product Support Group for $725 million in an all-cash deal on December 21, 2023. The deal closed March 1, 2024, and included five facilities, four in the U.S. and one in Thailand.[12]
On March 27, 2024, AAR began construction on a new 114,000 sq. ft. maintenance, repair, and overhaul (MRO) facility at Miami International Airport (MIA), expanding its airframe MRO capacity by 33%. The facility is set to open in October 2025 and is expected to create over 200 jobs in Miami.[13]
In September 2024, AAR reported a 20% increase in fiscal Q1 sales. AAR's largest non-government customers in 2024 are North American airlines, with United Airlines, Delta Air Lines, Air Canada, and Southwest Airlines collectively making up 71% of the company's consolidated revenue in the first quarter.[16]
After completing a pilot program with United Airlines, AAR announced in October 2024 that it is digitizing maintenance, repair, and overhaul (MRO) operations across its facilities, with the initiative intended to improve efficiency.[17]
In December 2024, Global aerospace company AAR Corp agreed to resolve U.S. charges in connection with schemes to bribe Nepalese and South African officials. AAR agreed to pay more than $55 million to resolve investigations done by the Justice Department and SEC.[18]
Financial trends
Annual financial highlights (U.S. Dollars in millions except per share data):
For the year ending May 31
2023
2022
2021
2020
2019
2018
2017
2016
Operating performance
Net sales
1,990.5
1,820.0
1,652.3
2,072.0
2,057.8
1,748.3
1,590.8
1,525.4
Operating income
133.9
106.9
85.2
41.3
98.3
86.0
82.3
75.5
Diluted earnings per share from continuing operations
Endeavor Air is a regional airline in the United States headquartered at the Minneapolis–Saint Paul International Airport in Minneapolis, Minnesota. It is a wholly owned subsidiary of Delta Air Lines, and staffs, operates and maintains aircraft used on Delta Connection flights that are scheduled, marketed and sold by Delta Air Lines.
Tulsa International Airport is a civil-military airport five miles (8 km) northeast of Downtown Tulsa, in Tulsa County, Oklahoma, United States. It was named Tulsa Municipal Airport when the city acquired it in 1929; it received its present name in 1963. While Tulsa International Airport only serves domestic destinations, it is still an international airport since it has customs and border patrol facilities.
McGhee Tyson Airport is a public/military airport 12 miles (19 km) south of Knoxville, in Alcoa, Tennessee. It is named for United States Navy pilot Charles McGhee Tyson, who was killed in World War I.
SIA Engineering Company Limited is a Singaporean company specializing in aircraft maintenance, repair, and overhaul (MRO) services in the Asia-Pacific. It is a wholly-owned subsidiary of the Singapore Airlines Group (SIA), formed in 1992 by separating SIA's engineering division.
Chicago Rockford International Airport — typically referred to as Rockford International Airport, Chicago Rockford, or by its IATA call letters, RFD — is a commercial airport in Rockford, Illinois, located 68 mi (109 km) northwest of Chicago. Established in 1946, the airport was built on the grounds of the former Camp Grant facility, which served as one of the largest training facilities for the U.S. Army during both World Wars. The Federal Aviation Administration (FAA) National Plan of Integrated Airport Systems for 2023–2027 categorized it as a non-hub primary commercial service facility.
Aircraft maintenance checks are periodic inspections that have to be done on all commercial and civil aircraft after a certain amount of time or usage. Military aircraft normally follow specific maintenance programmes which may, or may not, be similar to those of commercial and civil operators.
Aircraft Inspection, Repair & Overhaul Depot Sdn Bhd or AIROD is a Malaysian aerospace company engaged in providing aircraft maintenance, repair and overhaul (MRO) services. The name AIROD is an acronym that stands for Aircraft Inspection, Repair & Overhaul Depot.
Aircraft maintenance is the performance of tasks required to ensure the continuing airworthiness of an aircraft or aircraft part, including overhaul, inspection, replacement, defect rectification, and the embodiment of modifications, compliance with airworthiness directives and repair.
Jat Tehnika is a Serbian aerospace company providing aircraft maintenance, repair and overhaul. The company is based at Belgrade Nikola Tesla Airport and provides services for Air Serbia and other airlines across Europe.
TIMCO Aviation Services, Inc. (TIMCO) was a company that provided aircraft Maintenance, Repair and Overhaul (MRO) and interiors services for commercial and government aircraft operators.
KF Aerospace is a Canadian aerospace company providing aircraft maintenance, engineering, training, parts manufacturing, commercial flight operations, and pilot training. KF is a Transport Canada Design Approval Organization (DAO) and Recognized Design Approval Organization (RDAO) with the Department of National Defence (DND). KF also purchases, modifies and leases or sells commercial aircraft. KF Aerospace is the central Okanagan’s largest private sector employer and Canada’s largest commercial MRO.
Lufthansa Technik AG provides worldwide maintenance, repair, and overhaul (MRO) services for aircraft, engines, and components. It is a subsidiary of the Lufthansa Group.
Air Transport Services Group Inc. (ATSG) is an American aviation holding company which provides air cargo transportation and related services to domestic and foreign air carriers and other companies that outsource their air cargo lift requirements. ATSG, is the world's largest lessor of converted Boeing 767 freighter aircraft through its leasing division, Cargo Aircraft Management. Through its principal subsidiaries, including three airlines with separate and distinct U.S. FAA Part 121 Air Carrier certificates, ATSG provides aircraft leasing, air cargo lift, passenger ACMI and charter services, aircraft maintenance services and airport ground services. ATSG's subsidiaries include Cargo Aircraft Management; ABX Air; Air Transport International; Omni Air International, Airborne Global Solutions; Airborne Maintenance & Engineering Services, including its subsidiary, Pemco Conversions dba Pemco World Air Services; and LGSTX Services.
FL Technics is a global provider of aircraft maintenance, repair and overhaul (MRO) services, headquartered in Vilnius, Lithuania. The company has Base Maintenance facilities in Lithuania, the United Kingdom and Indonesia, and provides Line Maintenance support across Europe, Middle East, North America and Asia-Pacific.
Aveos Fleet Performance Inc. (Aveos) was a maintenance, repair and overhaul (MRO) provider of airframe, component, engine and maintenance solutions. The company had facilities in Montreal, Toronto, Winnipeg, and Vancouver.
Delta TechOps is the maintenance, repair and overhaul (MRO) division of Delta Air Lines, headquartered at Hartsfield-Jackson International Airport in Atlanta, Georgia. With more than 9,600 employees and 51 maintenance stations worldwide, Delta TechOps is a full-service maintenance provider for the more than 900 aircraft that make up the Delta Air Lines fleet. In addition to maintaining the Delta Air Lines fleet, Delta TechOps also provides MRO solutions and support to more than 150 third-party operators around the world, making it the second largest MRO provider in North America and the seventh largest worldwide.
Created in 1968, Sabena technics is an independent MRO provider offering services to civil and military aircraft operators.
AerSale, Inc. is a Doral, Florida-based global supplier of aftermarket commercial jet aircraft, engines, used materials, and aeronautical engineering services to passenger and cargo airlines, government, multinational original equipment manufacturers, and independent MROs. AerSale is a member of the Aircraft Fleet Recycling Association.
Liebherr-Aerospace is the aerospace equipment manufacturing division of Liebherr. The company is an original equipment manufacturer (OEM); its low visibility in the minds of end consumers can be attributed to the OEM nature of all its operations.
GA Telesis is an American multinational company headquartered in Fort Lauderdale, Florida. The company provides aviation aftermarket services, including component sales, aircraft maintenance and air finance.
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US$1.99 billion (2023)
