AAR Says Miami Airframe MRO Facility Expansion Approved By Miami-Dade County
Portfolio Pulse from Benzinga Newsdesk
AAR Corp has received approval from Miami-Dade County for the expansion of its Miami Airframe MRO facility. The company plans to start construction in Q2 of FY2024 and complete it within 24 months. The county is expected to reimburse the $50 million construction cost over time. This will increase the capacity of AAR's Miami Airframe MRO by 33%.
July 19, 2023 | 9:50 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
AAR Corp's expansion of its Miami Airframe MRO facility has been approved, which will increase its capacity by 33%. The $50 million construction cost will be reimbursed by Miami-Dade County.
The approval for the expansion of AAR's facility is a positive development for the company. The increase in capacity by 33% will likely boost the company's operational efficiency and potential revenue. The reimbursement of the construction cost by the county reduces the financial burden on AAR, making this news positive for the company's stock.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100