Aviation Services Provider AAR Purchases Nine 757-200 Aircraft From American Airlines
Aviation services provider AAR Corp (NYSE: AIR) subsidiary AAR Supply Chain will acquire nine Boeing Company (NYSE: BA) 757-200 passenger aircraft equipped with 18 RB211 engines.
The assets have been recently operated by American Airlines Group (NASDAQ: AAL). The financial terms of the deal were not disclosed.
"The acquisition of these aircraft and engines will enable AAR to continue to support the RB211-powered 757 cargo market," said Brian Salvatori, AAR's Vice President of Asset Trading.
Also Read: Canada Mulls Replacing Aging Aurora Aircraft Fleet With Boeing's P-8A Poseidon
AAR is a global aerospace and defense aftermarket solutions company with operations in over 20 countries.
Price Action: AIR shares are trading lower by 0.80% at $54.47 on the last check Wednesday.
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