AAR CORP. Responds to American Airlines Bankruptcy
WOOD DALE, Ill., Nov. 29, 2011 /PRNewswire/ -- In response to investor inquiries, AAR CORP. (NYSE: AIR), a leading independent provider of products and services to the commercial aviation and government and defense industries, announced that it expects negligible financial impact as a result of the Chapter 11 bankruptcy filing of American Airlines and its parent company, AMR Corp.
The Company's aggregate accounts receivable exposure to American Airlines is less than $500,000 and current sales to American Airlines account for less than one half of one percent of the Company's annual sales.
AAR is a leading provider of products and value-added services to the worldwide aerospace and government and defense industries. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve customers through four operating segments: Aviation Supply Chain; Maintenance, Repair and Overhaul; Structures and Systems; and Government and Defense Services. More information can be found at www.aarcorp.com.
Named One of The Most Trustworthy Companies by Forbes.
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, 2011. 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.
SOURCE AAR CORP.