AAR Awarded New Contract for Airlift Services in Africa
AAR Airlift Group to Support AFRICOM Operations in the Central Africa Region
WOOD DALE, Ill., Dec. 2, 2013 /PRNewswire/ -- AAR (NYSE: AIR) announced today that the U.S. Transportation Command (USTRANSCOM) awarded its Airlift division a contract to provide dedicated fixed-wing lift services to U.S. Africa Command (USAFRICOM) throughout four Central African countries.
The contract, which includes a base period of seven months plus five three-month option periods, is valued at approximately $23 million in revenue. Under the agreement, AAR will perform fixed-wing passenger and cargo transport services, aerial delivery services, and logistics support for allied forces.
USTRANSCOM is the Department of Defense's agency responsible for the transportation, sustainment, and distribution to the nation's warfighters. Its responsibilities include the procurement of commercial transportation services for U.S. military forces.
"AAR is pleased to expand our airlift services footprint in Africa," said Randy J. Martinez, President and CEO, AAR Airlift Group. "USTRANSCOM's issuance of this contract to AAR acknowledges our proven performance in remote and austere environments."
AAR provides expeditionary airlift services in support of contingency operations worldwide. The Company currently operates a fleet of more than 40 fixed-wing and rotary-wing aircraft to transport personnel, supplies, and mail for the U.S. Department of Defense in Afghanistan and the Western Pacific.
AAR is a global aerospace and defense contractor that employs more than 6,000 people in 17 countries. Based in Wood Dale, Illinois, AAR supports commercial, government and defense customers through two operating segments: Aviation Services and Technology Products. AAR's services include inventory management and parts distribution; aircraft maintenance, repair and overhaul; and expeditionary airlift. AAR's products include cargo systems and containers; mobility systems and shelters; advanced aerostructures; and command and control systems. More information can be found at www.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. 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, including those factors discussed under Item 1A, entitled "Risk Factors", included in the Company's Form 10-K for the fiscal year ended May 31, 2013. 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. For additional information, see the comments included in AAR's filings with the Securities and Exchange Commission.
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