AAR Corp.
Aviation support company From Wikipedia, the free encyclopedia
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]
 | |
| Company type | Public |
|---|---|
| Industry | Aviation |
| Founded | 1951 |
| Founder | Ira Allen Eichner |
| Headquarters | , United States |
Area served | Worldwide |
Key people | John Holmes (president & CEO) |
| Revenue | US$1.99 billion (2023) |
| US$90.2 million (2023) | |
| Total assets | US$1.1 billion (2023) |
| Total equity | US$1.1 billion (2023) |
Number of employees | 5,000 (2023) |
| Website | aarcorp |
| Footnotes / references Financials as of May 31, 2023[update]. References:[1] | |
During the Trump administration, AAR quadrupled its lobbying expenditures.[3] The company spent large sums at Trump-owned properties with the intent to get Trump to view the company more favorably.[3] From the time Trump took office until October 2020, AAR obtained 10 new federal contracts worth a total of $1.35 billion.[3] In December 2024, AAR paid a $55 million settlement in relation to an investigation by the U.S. Justice Department and SEC over schemes to bribe Nepalese and South African officials.[4]
AAR sells both new and used parts and is one of the largest in the world for selling used parts. AAR has about $2.5 billion in revenue as of 2024. As of May 2023[update], the company operates major maintenance facilities in Indianapolis, Miami, Oklahoma City, Rockford, Illinois, Trois Rivieres, Quebec and Windsor, Ontario.[1]
History
Summarize
Perspective
The company was founded by Ira Allen Eichner in 1951, to supply radios and other equipment to the commercial aviation industry.[5] I.A. Allen Industrial was incorporated in 1955, renamed Allen Aircraft Radio (AAR) in 1962, and became AAR CORP. in 1970.[5] 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.[6]
AAR organized its Aircraft Turbine Center, Inc. in 1979 after future CEO David P. Storch, Eichner's son-in-law, joined the company.[5]
David P. Storch was CEO from 1996 to 2018. In 2018, John M. Holmes became CEO.[7]
Lobbying
During the Trump administration, AAR quadrupled its lobbying expenditures.[3] The company spent large sums at Trump-owned properties with the intent to get Trump to view the company more favorably.[3] From the time Trump took office until October 2020, AAR obtained 10 new federal contracts worth a total of $1.35 billion.[3]
In December 2024, AAR 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.[4]
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 | 2.55 | 2.19 | 1.31 | 0.71 | 2.40 | 2.11 | 1.51 | 1.30 |
| Financial position | ||||||||
| Working capital | 746.4 | 600.2 | 1,055.6 | 595.5 | 609.4 | 553.4 | 540.3 | |
| Total assets | 1,097.9 | 1,007.2 | 1,539.7 | 2,079.0 | 1,517.2 | 1,524.7 | 1,504.1 | 1,456.0 |
| Total debt | 382.5 | 191.2 | 135.2 | 602.0 | 142.9 | 178.9 | 156.2 | 145.3 |
| Stockholders' equity | 1,099.1 | 1,034.5 | 974.4 | 902.6 | 905.9 | 914.2 | 865.8 | 865.8 |
| Sources | [1] | [1] | [8] | [8] | [8] | [8] | [8] | [8] |
See also
References
External links
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