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Industry News
Aviation Industry NewsAAR Acquires Aviation Worldwide(AIR - Analyst Report) has decided to acquire Aviation Worldwide Services, a leading provider of expeditionary airlift services and aircraft modifications for the U.S. and other governments, from Xe Services LLC for $200 million. The acquisition is expected to close by April 2010.Management expects the acquired business to be accretive to earnings and margins in its first year of ownership and generate $175 million of revenue on an annual basis. Through this acquisition AAR is expected to expand its products, services and capabilities to government customers in the United States and abroad in the long term. The company generates a majority of its revenue through sales to government and defense customers.In the third quarter of fiscal 2010, AAR generated approximately 50% of its total revenue from sales to government and defense customers.
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