Company:AAR Corp.
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| Type | Public |
|---|---|
| Industry | Aviation |
| Founded | 1955 |
| Founder | Ira Allen Eichner |
| Headquarters | Wood Dale, Illinois , United States [ ⚑ ] : 41°59′15″N 87°58′55″W / 41.987373°N 87.981812°W |
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 | 6,000 (2025) |
| Website | aarcorp |
| Footnotes / references Financials as of May 31, 2023[update]. References:[1] | |
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]
During the first 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 January 2026[update], the company operates major maintenance facilities in Greensboro, North Carolina, Indianapolis (closing February 28, 2027),[5] Lake City, Miami, Oklahoma City, and Rockford, Illinois as well as Trois Rivieres, Quebec and Windsor, Ontario in Canada.[1][6]
History
The company was founded by Ira Allen Eichner in 1951, to supply radios and other equipment to the commercial aviation industry.[7] I.A. Allen Industrial was incorporated in 1955, renamed Allen Aircraft Radio (AAR) in 1962, and became AAR CORP. in 1970.[7] 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.[8]
AAR organized its Aircraft Turbine Center, Inc. in 1979 after future CEO David P. Storch, Eichner's son-in-law, joined the company.[7]
David P. Storch was CEO from 1996 to 2018. In 2018, John M. Holmes became CEO.[9]
On November 3, 2025, AAR and HAECO Americas, with 1600 employees in Greensboro, North Carolina and Lake City, Florida, announced that AAR had purchased the HAECO subsidiary for $78 million. At the time, HAECO Americas was the second-largest heavy aircraft maintenance company in North America, with AAR being number one.[10]
In December 2025, it was announced that AAR had entered into an agreement to acquire Aircraft Reconfig Technologies from ZIM Aircraft Cabin Solutions for US$35 million in an all-cash transaction. The acquisition was intended to expand AAR’s engineering and certification capabilities within its repair and engineering segment and was subject to customary closing conditions and regulatory approvals.[11] In late December 2025, it was announced that AAR would be permanently closing its Indianapolis location by February 28, 2027.[5]
Lobbying and corruption
During the first 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 related to contracts with state-owned flag carriers Nepal Airlines and South African Airways. AAR agreed to pay more than $55 million to resolve investigations done by the Justice Department and SEC.[4][12]
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] | [13] | [13] | [13] | [13] | [13] | [13] |
See also
- List of S&P 600 companies
References
- ↑ 1.0 1.1 1.2 1.3 "2023 Form 10-K". July 18, 2023. https://www.sec.gov/Archives/edgar/data/1750/000110465923082069/air-20230531x10k.htm.
- ↑ "Mad Money – 4/19/24 | Audio Only". April 19, 2024. https://www.youtube.com/watch?v=qj9GBWDhxFk&t=2189s.
- ↑ 3.0 3.1 3.2 3.3 3.4 3.5 Confessore, Nicholas; Yourish, Karen; Eder, Steve; Protess, Ben; Haberman, Maggie; Ashford, Grace; LaForgia, Michael; Vogel, Kenneth P. et al. (October 10, 2020). "The Swamp That Trump Built" (in en-US). The New York Times. ISSN 0362-4331. https://www.nytimes.com/interactive/2020/10/10/us/trump-properties-swamp.html.
- ↑ 4.0 4.1 "Aerospace firm AAR settles US charges over bribing foreign officials". December 20, 2024. https://reuters.com/business/aerospace-defense/sec-says-aerospace-firm-aar-settles-charges-over-bribing-officials-2024-12-19/.
- ↑ 5.0 5.1 Doninger, Doninger (December 30, 2025). "Mass layoff alert: AAR Aircraft Services to close Indianapolis site by 2027". https://www.wishtv.com/news/business/mass-layoff-alert-aar-aircraft-services-to-close-indianapolis-site-by-2027/.
- ↑ "Global reach locations". https://www.aarcorp.com/en/about/locations/.
- ↑ 7.0 7.1 7.2 "AAR Corp. History". Funding Universe. January 17, 2018. http://www.fundinguniverse.com/company-histories/aar-corp-history/. Retrieved April 29, 2022.
- ↑ "History Of AAR – 60th Anniversary" (in en-US). Aviation Week Network. https://aviationweek.com/mro/history-aar-60th-anniversary-0.
- ↑ AAR. "AAR CEO David P. Storch Announces Plans to Retire". www.prnewswire.com (Press release). Retrieved December 24, 2021.
- ↑ Craver, Richard (November 4, 2025). "PTI's HAECO Americas sells for $78M to competitor". Greensboro News and Record. https://greensboro.com/news/local/business/development/article_b31f3d78-013e-45ca-ba63-0cf4820f43b3.html.
- ↑ "Aircraft Cabin Management" (in en-GB). 2025-12-22. https://www.aviationbusinessnews.com/cabin/.
- ↑ Office of Public Affairs (2024-12-19). "AAR CORP to Pay Over $55M To Resolve Foreign Corrupt Practices Act Investigation" (in en). https://www.justice.gov/archives/opa/pr/aar-corp-pay-over-55m-resolve-foreign-corrupt-practices-act-investigation.
- ↑ 13.0 13.1 13.2 13.3 13.4 13.5 "Financial Reports". AAR CORP. https://investors.aarcorp.com/financial-reports-filings.
External links
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