Wood Dale, Illinois, Oct. 31, 2022 (GLOBE NEWSWIRE) -- AAR CORP. (NYSE: AIR), a leading provider of aviation services to commercial and government operators, MROs, and OEMs, released its 2022 Environmental, Social, and Governance (ESG) Report, illustrating AAR’s commitment to protecting the environment, empowering people, and governing and operating with integrity.
This marks AAR’s second ESG report, following its inaugural report in 2021. New to this year’s report is an ESG impact assessment, which AAR pursued to enhance its understanding of sustainability impacts and further incorporate ESG-related risks and opportunities into its future strategy. The 2022 Report also includes a Task Force on Climate-related Financial Disclosures (TCFD) report to increase availability of ESG related information.
“We work hard to anticipate the needs of our customers, our people, and our planet,” said John M. Holmes, AAR’s President and CEO. “We are excited to share our most recent ESG report, which details our current initiatives and how we are always looking to identify opportunities to improve our future.”
Highlights from the 2022 ESG Report include AAR’s successful efforts to:
- Continue to track energy and emissions use for AAR’s significant sites, with decreases in energy of 10% and emissions of 9% in FY2022 from FY2021, reducing environmental impact
- Invest in Aero Design Labs drag reduction kits, which AAR will distribute to help customers reduce their carbon footprint
- Launch additional employee resource groups (ERGs), creating more opportunities for employees and bringing AAR’s current total to six ERGs
- Add Train the Trainer capabilities, enabling AAR to offer formal diversity, equity, and inclusion education on a quarterly basis
- Receive awards and accolades, including the Secretary of Defense PBL Award and recognition from Forbes as one of America’s Best Midsize Employers, demonstrating the Company’s widespread positive influence
- Become the first independent third-party MRO organization to implement a corporate Safety Management System (SMS) program recognized by the Federal Aviation Administration, maturing AAR’s approach to safety and serving as a model to others
- Appoint a new Vice President, Chief Ethics and Compliance Officer who has focused on anti-bribery and anti-corruption policies and procedures, third-party due diligence, and risk assessments to further AAR’s culture of compliance
AAR’s complete 2022 Environmental, Social, and Governance Report is available on the ESG page of its website at aarcorp.com/en/about/environmental-social-and-governance-esg/.
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 aarcorp.com.
| 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 which reflect management’s expectations about future conditions. 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. For a discussion of these and other risks and uncertainties, refer to “Risk Factors” in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. 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.