AAR to Relocate Airlift Group to Melbourne, FL

The relocation will be conducted in phases and is expected to be completed by spring 2011.

WOOD DALE, ILLINOIS (November 8, 2010) — AAR (NYSE: AIR) announced today that it has selected Melbourne, Fla. as the new location for its airlift services and specialized aircraft modifications businesses, which the Company acquired in April 2010. Since completing the acquisition, AAR has installed a new leadership team and is rebranding the businesses as part of its overall integration strategy.

“When we acquired Aviation Worldwide Services and its subsidiaries earlier this year, we shared our plans to relocate the operations, transform the leadership team with our people to instill AAR values and rebrand the business,” said David P. Storch, Chairman and Chief Executive Officer of AAR CORP. “I’m very pleased with the progress our team has made toward these goals and I look forward to being an important part of Melbourne’s business community and economy. I want to thank the State of Florida for their support and for working diligently to help make this move happen.”

The business will move to hangars, facilities and offices at and near Melbourne International Airport. The relocation will be conducted in phases and is expected to be completed by spring 2011. AAR will establish an on-site management team and begin hiring select positions immediately. The business is expected to create as many as 225 jobs by the end of 2012.

The business will operate as AAR Airlift Group, with airlift services provided by AAR Airlift and specialized aircraft modifications performed by AAR Aircraft Services – Melbourne. AAR Airlift Group is led by Jeffrey Schloesser, a former U.S. Army major general with more than 20 years of senior-level leadership and operations experience, which includes leading the Army’s modernization and transformation plan for a fleet of 4,000 aircraft and 76,000 personnel.

AAR collaborated with elected officials from the State, economic development groups and the city of Melbourne to identify locations that would support AAR’s requirement for world-class flight operations, warehousing and administrative facilities and to develop a partnership to ensure the future growth of the business.

“Aviation and aerospace is one of Florida’s targeted industries for stimulating economic growth and diversification; therefore, AAR’s entry is in line with our expansion strategy for this key sector,” said John Adams Jr., president & CEO of Enterprise Florida, the state’s principal economic development organization. “This project has exemplified Florida’s competitiveness; our ability to attract progressive and innovative businesses as we compete in the global economy.”

Senate President–designate, Mike Haridopolos said, “We are pleased to welcome a company of AAR’s recognized quality and expertise to the Space Coast. Its relocation to Florida will create high-quality jobs, provide an instant economic boost, and solidify the leadership of the Space Coast in the defense and aerospace sectors.”

“This is fantastic news for the Space Coast,” said U.S. Sen. Bill Nelson, who urged the company to relocate its airlift operations to Melbourne. “This move will bring much needed jobs to the area and provide a boost to the local economy. I applaud AAR’s decision to select Melbourne as the home for their airlift group.”

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