WOOD DALE, Ill., Nov. 5, 2012 /PRNewswire/ -- AAR (NYSE: AIR) announces the United States Transportation Command (USTRANSCOM) has exercised a renewal option for AAR Airlift to continue its airlift support in Afghanistan. The renewal is tied to one of several contracts AAR has with the U.S. Department of Defense to provide fixed and rotary wing airlift support in the region. The option has a value of approximately $161 million and is part of a contract originally awarded to AAR in October 2010.
AAR Airlift provides staff, equipment and maintenance to transport personnel, cargo and mail over land and sea in support of U.S. and NATO operations. AAR will fulfill this requirement using two Sikorsky S-92, six Sikorsky S-61, and two Bell 214 ST10 helicopters.
"We appreciate the confidence the U.S. Transportation Command and the Department of Defense have in AAR Airlift to help maximize their logistics and transportation capabilities in this important military theater," said Randy J. Martinez, President, AAR Airlift. "We thank our pilots and personnel on the ground for being responsive and for maintaining great relationships with our customers."
AAR Airlift provides expeditionary airlift services and performs specialized aircraft modifications for defense, security and humanitarian relief operations. AAR currently supports the U.S. Department of Defense in Afghanistan, Africa and the Pacific Rim, and is ranked one of the top defense contractors in the world.
AAR is a leading provider of value added products and services to the worldwide aerospace and government/defense industries. With facilities and sales locations around the world, AAR uses its close-to-the-customer business model to serve aviation and government/defense customers through two operating segments: Aviation Services, and Manufacturing and 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, 2012. 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.