WOOD DALE, Ill., March 23, 2026 /PRNewswire/ -- AAR CORP. (NYSE:AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, announced the U.S. Air Force recently awarded the Company two major pallet contracts with a combined value of up to approximately $450 million.

Under a sole-source $160 million firm-fixed-price, indefinite-delivery requirements contract, AAR will provide repair services for the 463L Legacy Cargo Pallet. The work is expected to be completed by March 2031.

Under a separate $290 million sole-source requirements contract, AAR will manufacture and produce 463 legacy air cargo pallets. The work is expected to be completed by March 2032.

The 463L Pallet is the standard pallet used by the U.S. Air Force to transport concentrated cargo and is designed to be used with the dual-rail cargo systems on military transport aircraft. AAR has been the primary supplier of 463L Pallets to the U.S. Air Force since 1963.

"Government contracts are core to AAR's diversified business model. For decades, AAR has proudly met the pallet needs of the U.S. government, and these additional awards extend our services into 2032, bringing support and stability wherever they are needed worldwide," said Tom Hoferer, AAR's Senior Vice President of Repair & Engineering."

For more information on AAR's Government Solutions, visit https://www.aarcorp.com/en/government-solutions/.

About AAR

AAR 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 four operating segments: Parts Supply, Repair & Engineering, Integrated Solutions, and Expeditionary Services. Additional information can be found at aarcorp.com.

This press release may contain 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, reflecting management's expectations about future conditions. Forward-looking statements may also 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 similar expressions and the negatives of those terms. These forward-looking statements are based on beliefs of management, as well as assumptions and estimates based on information currently available to management and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. For a discussion of these and other risks and uncertainties, refer to "Risk Factors" in AAR CORP.'s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. 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 management's control. Management 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.

Contact:

Media Team

+1-630-227-5100

Editor@aarcorp.com

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SOURCE AAR CORP.

AAR awarded $450 million in pallet contracts for U.S. Air Force