AAR reports second quarter fiscal year 2014 results

AAR reported second quarter fiscal year 2014 consolidated sales of $540.7m and net income of $20.0m. For the second quarter of the prior fiscal year, the Company reported sales of $512.8m and net income of $17.8m. Sales in the Aviation Services segment increased 8.7% to $424.7m, driven by growth in the Company’s supply chain operations, which includes the delivery of two aircraft to the U.S. Marshals Service, increased MRO activity and continued steady demand for airlift support. During the quarter AAR secured FAA approval to begin MRO operations in Lake Charles and completed its first heavy maintenance check for a customer at this facility, in addition to ramping up a third maintenance line at the Duluth MRO facility. AAR was also awarded a contract extension through October 2014 for 10 rotary-wing aircraft for the Department of Defense (DoD) and NATO operations in Afghanistan.