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Article: AAR Modifies Support Agreements With Mesa Air Group.
- Article from:
- PR Newswire
- Article date:
- November 5, 2009
CopyrightCOPYRIGHT 2009 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WOOD DALE, Ill., Nov. 5 /PRNewswire-FirstCall/ -- AAR CORP. announced today that it has entered into a series of related transactions with Mesa Air Group, Inc. (Mesa).
AAR and Mesa amended their parts supply and maintenance agreements for Mesa's CRJ-200 and ERJ-145 aircraft fleet to provide Mesa with increased flexibility to respond to demand fluctuations in the 50-seat aircraft market. In consideration for these amendments AAR will receive a cash payment from Mesa along with 15 million shares of Mesa's common stock. AAR will return to Mesa $6.1 million aggregate principal amount at maturity of Mesa's 2023 notes.
AAR does not expect to increase its ...