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.

View on SEC.gov

Browse all restructurings & charges →

AAR CORP filing history →

Source: SEC EDGAR

accession 0001104659-24-130504

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.