AAR takes CARES Act payment 

AAR today announced that certain of its subsidiaries expect to receive $57.2 million from the US Treasury Department through the Payroll Support Program under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The funds are expected to consist of a $48.5 million grant and an $8.7 million loan, and will be used exclusively to pay salaries, wages and benefits of employees in AAR’s U.S. airframe and landing gear maintenance, repair and overhaul (MRO) operations. “We thank Congress and the Administration for passing legislation that recognizes the essential service that our MRO team provides to the aviation industry. We are also grateful