July 26, 2010

AAR Corp and OKC Department of Airports Unveil New Gateway to the City at Will Rogers World Airport

Source: AAR Corp

will-rog-world-airportAAR and the City of Oklahoma City Department of Airports today jointly announced the opening of a new state-of-the-art Fixed Base Operation (FBO) corporate and general aviation facility at Will Rogers World Airport that will be capable of handling more than 10,000 flight operations annually.

The opening of the 1.8 million, 6,000-square-foot facility is the culmination of a unique public/private partnership between AAR and Oklahoma City designed to provide corporate and general aviation customers with a modern business terminal and an inviting gateway to the city’s business district and other attractions.

“We believe the modernization of the FBO facility shows what can be accomplished when the public and private sectors join forces for the greater good of the community,” said the Honorable Mick Cornett, Mayor of the City of Oklahoma City. “Thanks to the strong collaboration between the Department of Airports and AAR, we can now offer visitors a first-class aviation facility that reflects Oklahoma City’s efforts to stimulate and support our local economy.”

“The new, modernized facility will provide visitors with an impressive gateway to the city and a great experience for clients and the flight crew,” said David P. Storch, Chairman and Chief Executive Officer of AAR CORP. “AAR has been conducting business at Will Rogers World Airport for more than 40 years, and we’re extremely proud of our partnership with Oklahoma City and their ongoing investments in the City’s reputation as a great place to do business and live.”  AAR’s FBO is the arrival gate for many business people, VIPs and the Oklahoma City Thunder and their opponents. The FBO can accommodate dozens of corporate jets arrivals and departures daily and is often a destination for the USAF jets engaged in training exercises from nearby Vance Air Force Base. In addition, AAR has the fueling contract for the airlines that serve Oklahoma City.

“After the expansion/renovation of the commercial terminal in 2006, it was evident that the airport needed a complimentary general aviation and corporate terminal,” said Mark Kranenburg, Director of Airports. “Our long-time relationship with AAR enabled us to collaborate on this project. The result is a facility that reflects the progressive nature of our community.”

The AAR FBO was built after several years of planning and collaboration with the City’s Department of Airports and the Oklahoma City Airport Trust. Designed by Frankfurt-Short-Bruza Associates, P.C., a nationally recognized design-engineering firm and built by Silvercliffe Construction, both of Oklahoma City, the new facility will serve the needs of both passengers and aircraft crews alike with a number of new amenities.  Chip Smith, Director of FBO Services, AAR Aircraft Services — Oklahoma will continue to operate the AAR FBO, bringing more than 30 years of experience serving pilots, passengers and airlines at Will Rogers World Airport.

Will Rogers World Airport is owned by the Oklahoma City Airport Trust and operated by the City of Oklahoma City Department of Airports. Will Rogers is the city’s commercial airport and accommodates over three and a half million passengers each year. The airport is home to nearly 70 tenants and over 10,000 employees. The City also operates and manages Wiley Post and Clarence E. Page Airports.

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 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.

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 May 31, 2009 Form 10-K. 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.

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