AAR swings to net profit in first quarter

US based aircraft maintenance services provider AAR has posted positive first fiscal quarter 2024 results. It swung to a net profit of $18 million in the quarter, compared to a net loss of $0.6 million in the same period a year prior. The company recorded first quarter sales of $662 million, up from $59.7 million last year. The company recorded an operating income of $43.4 million, up from $25.3 million last year. “During the quarter, we continued to execute well across the company,” said AAR president and CEO John Holmes. “We drove 26% organic growth in our new parts distribution