The new facility is expected to be operational in early
2026.
WOOD DALE, Ill., April 5, 2024 /PRNewswire/ -- AAR CORP.
(NYSE: AIR), a leading provider of aviation services to commercial
and government operators, MROs, and OEMs, broke ground on the
expansion of its maintenance, repair, and overhaul facility in
Oklahoma City earlier today.
More than 150 representatives from AAR, Alaska Airlines, state
and local government, and partner organizations supporting the
efforts gathered to celebrate groundbreaking on AAR's new three-bay
facility that is being constructed adjacent to the Company's
existing facility at Will Rogers World Airport.
The new facility has been designed to provide AAR an additional
80,000+ square feet of hangar and warehouse space and to
accommodate all 737 variants, including the 737-10. AAR's growth in
Oklahoma City supports a recently
expanded maintenance commitment from Alaska Airlines, a valued
customer of AAR for more than 20 years. The new airframe MRO
facility is expected to be operational in January of 2026.
Considerable funding for the project was made possible through a
grant secured by Oklahoma
legislators, with the balance expected to be funded through rent
concessions from the airport.
Speakers at the groundbreaking celebration included John M. Holmes, AAR's Chairman, President and
CEO; Don Wright, Alaska Airlines'
Vice President of Maintenance & Engineering; Grayson Ardies, State Director of Oklahoma
Aeronautics Commission; Lt. Governor Matt
Pinell; Senator Paul Rosino;
Jeff Seymour of Greater Oklahoma City Chamber of Commerce –
Economic Development; Terry Salmon,
Chair of the Oklahoma City Airport Trust; and Jeff Mulder, Oklahoma
City Director of Airports.
Holmes shared, "Today's groundbreaking has been made possible
thanks to collaborative efforts across AAR and Alaska Airlines,
partnerships with Oklahoma City Airport Trust, and state and local
representatives who are passionate about expanding aviation in
Oklahoma. We are especially
excited about creating 200 additional full-time careers with AAR,
which we expect to fill through local technical schools and
workforce development partners who create opportunities through
aviation-centric programming, such as Choose Aerospace."
"The Oklahoma City Airport Trust is excited to partner with AAR
to expand its Maintenance, Repair and Overhaul operation at Will
Rogers World Airport. This expansion of AAR's MRO operation
provides more hangar capacity at OKC, along with more aviation jobs
for our community," said Jeff
Mulder, Oklahoma City's
Director of Airports.
"This groundbreaking isn't just about constructing a hangar.
It's about cultivating an excellent experience for all involved. JE
Dunn is honored to bring our construction expertise and leadership
and partner with The Oklahoma City Airport Trust (OCAT) to support
the business growth happening in our city," said Jason Bishop, JE Dunn's Vice President –
Oklahoma City, who is leading the
construction effort.
For more information on AAR, visit aarcorp.com.
About AAR
AAR is a global aerospace and defense
aftermarket solutions company with operations in over 20 countries.
Headquartered in the Chicago area,
AAR supports commercial and government customers through four
operating segments: Parts Supply, Repair & Engineering,
Integrated Solutions, and Expeditionary Services. Additional
information can be found at 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, reflecting management's expectations about future
conditions, including the expansion of the Company's MRO facility
in Oklahoma City, the timing of and funding for such expansion, the
creation of additional careers in connection with such expansion,
and the anticipated activities and benefits under the maintenance
commitment with Alaska Airlines. Forward-looking statements may
also be identified because they contain words such as
''anticipate,'' ''believe,'' ''continue,'' ''could,'' ''estimate,''
''expect,'' ''intend,'' ''likely,'' ''may,'' ''might,'' ''plan,''
''potential,'' ''predict,'' ''project,'' ''seek,'' ''should,''
''target,'' ''will,'' ''would,'' or similar expressions and the
negatives of those terms. 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. For a discussion of these and other risks and
uncertainties, refer to "Risk Factors" in our most recent Annual
Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.
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.
|
Contact:
Media Team
Corporate Marketing and Communications
+1-630-227-5100
Editor@aarcorp.com
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SOURCE AAR CORP.