AAR CORP (AIR): restructuring charge — AAR CORP. to divest Landing Gear Overhaul business to GA Telesis for $51M; expects ~$60M impairment charge

AAR CORP

Divestiture valued at $51 million; expected close in Q1 2025 subject to customary conditions.
Non-cash, pre-tax impairment loss of approximately $60 million to be recognized in fiscal Q3 ending Feb 28, 2025.
Proceeds will be used substantially to repay credit agreement borrowings.
Divestiture immediately accretive to margins and earnings; part of portfolio optimization.
AAR remains prime contractor on U.S. Air Force Landing Gear PBL contract; GA Telesis to perform as subcontractor.

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

AAR CORP announced a impairment with charges of approximately $60 million affecting Landing Gear Overhaul (LGO) business.

Type: impairment
Charge: approximately $60 million
Affected area: Landing Gear Overhaul (LGO) business

Exact text from the filing

the Company determined that it will recognize a non-cash, pre-tax loss of approximately $60 million in the fiscal third quarter ending February 28, 2025 reflecting the adjustment of LGO’s carrying value to its fair value less costs to sell.

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6 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

AAR CORP filing history →

Source: SEC EDGAR

accession 0001104659-24-130504

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