Breaking News Bar
updated: 2/26/2013 10:54 AM

AAR sells 10 aircraft to Malaysian Airline System

hello
Success - Article sent! close
 
PRNewswire

Wood Dale-based AAR Corp. and its joint venture partner have completed the sale of 10 Boeing 737-400 aircraft to Malaysian Airline System Berhad.

AAR announced the sale last November and said it is consistent with the company's goal to reduce its investment in aircraft leasing. AAR's portfolio now includes four aircraft held in joint ventures and two aircraft that are wholly-owned. At its peak in 2007, the Company held a total of 42 aircraft in its joint venture and wholly-owned portfolios.

The transaction closed during the third quarter and will generate net cash proceeds of approximately $20 million and a modest recorded gain during the company's current fiscal year. Due to joint venture accounting, there will be no impact on reported sales.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.