GlobeNewswire Inc | Sep 20, 2021 08:50AM EDT

September 20, 2021

Wood Dale, Sept. 20, 2021 (GLOBE NEWSWIRE) -- AAR (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs and OEMs, was awarded a firm, fixed-price contract by the Department of Energys (DOE) National Nuclear Security Administration (NNSA) for the conversion and delivery of a B737-700 aircraft modified into a FlexCombi configuration.

AAR is once again honored to provide increased airlift capability to the Department of Energy and the National Nuclear Security Administration, said Jay Pereira, AAR Vice President of Government Programs. We are proud to support this critical mission with a high-quality product at a very competitive price.

With this acquisition, the NNSA will increase its fleet size to support mission-critical activities to maintain the safety, security and effectiveness of the United States nuclear deterrent capacity. The FlexCombi configuration gives the NNSA the ability to quickly configure the aircraft between passenger and/or cargo modes, serving ever-evolving mission requirements. Work will commence immediately and be completed within twelve months.

We applaud the NNSA for recognizing the value and embracing the use of commercial best practices in this acquisition, said Nicholas Gross, AAR Senior Vice President Integrated Solutions. This award further demonstrates the advantages available to the US Government by accessing the aftermarket for its systems and sustainment needs. AAR is in a unique position to deliver benefits given our commercial aftermarket expertise and ability to adapt to the needs of our government customers.

For more information about AARs Government Solutions, please visit aarcorp.com/integrated-solutions/government-solutions/.

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About AARAAR 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 two operating segments: Aviation Services and Expeditionary Services. AARs Aviation Services include Parts Supply; OEM Solutions; Integrated Solutions; and Maintenance, Repair and Overhaul (MRO) Services. AARs Expeditionary Services include Mobility Systems operations. Additional 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 PrivateSecurities Litigation Reform Act of 1995 which reflect management?sexpectations about future conditions, including the Company?s unique positionto deliver value given its commercial aftermarket expertise and ability toadapt to the needs of its government customers. Forward-looking statements mayalso 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 similarexpressions and the negatives of those terms. These forward-looking statementsare based on beliefs of Company management, as well as assumptions andestimates based on information currently available to the Company and aresubject to certain risks and uncertainties that could cause actual results todiffer materially from historical results or those anticipated. For adiscussion of these and other risks and uncertainties, refer to ?Risk Factors?in our most recent Annual Report on Form 10-K and subsequent Quarterly Reportson Form 10-Q. Should one or more of these risks or uncertainties materializeadversely, or should underlying assumptions or estimates prove incorrect,actual results may vary materially from those described. These events anduncertainties are difficult or impossible to predict accurately and many arebeyond the Company?s control. The Company assumes no obligation to update anyforward-looking statements to reflect events or circumstances after the date ofsuch statements or to reflect the occurrence of anticipated or unanticipatedevents.

Daniela PietschAAR Corp+16302275100editor@aarcorp.com