AAR : named sole authorized service center for Honeywell´s B737 MAX Electronic Bleed Air System components

Wood Dale, Illinois - AAR (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs and OEMs, has signed a ten year agreement with Honeywell to be the sole channel partner licensee for component repair and overhaul services for the OEM's suite of Electronic Bleed Air Systems (EBAS) covering 15 components on the B737 MAX aircraft.

The new agreement supplements AAR's existing Honeywell license agreement that covers over 1,200 Honeywell components. AAR is also authorized to offer Honeywell's new product warranty on all of these components including MAX line replaceable units (LRUs) and will provide expert component repair and overhaul services with timely delivery and state of the art customer service.

'This meaningful new agreement will allow AAR to support worldwide MAX operators as the fleet returns to service with our expert and proven component repair and overhaul services through our facilities in Amsterdam and New York,' said Ken Hein, AAR Group Vice President, Component Repair. 'Our expertise in pneumatics makes AAR the logical choice to be Honeywell's strategic partner. We look forward to providing MAX operators with the support they need to relaunch the fleet.'

For more information on AAR Component Repair, visit aarcorp.com/mro/component-repair/.

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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 two operating segments: Aviation Services and Expeditionary Services. AAR's Aviation Services include Parts Supply; OEM Solutions; Integrated Solutions; and Maintenance, Repair and Overhaul (MRO) Services. AAR's Expeditionary Services include Mobility Systems operations. Additional information can be found at www.aarcorp.com.

About AAR Aircraft Component Services

AAR Aircraft Component Services has supported commercial and military customers for over 40 years from our shops in Amsterdam and New York. The facilities have capability on over 6,000 aircraft components with centers of excellence in avionics, APU, electro-mechanical, fuel, generators, hydraulics, pneumatics and instruments. Both facilities are authorized Honeywell channel partners able to provide Honeywell warranty services.

This press release contains 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. 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 Company management, as well as assumptions and estimates based on information currently available to the Company, and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated, including those factors discussed under Item 1A, entitled 'Risk Factors', included in the Company's Form 10-K for the fiscal year ended May 31, 2020. 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 the Company's control. The Company 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. For additional information, see the comments included in AAR's filings with the Securities and Exchange Commission.

Contact:
Daniela Pietsch
Corporate Marketing & Communications
+1.630.227.5100
[e-mail]