AAR Bags $41M Contract From National Nuclear Security Administration

AAR Corp. AIR has secured a $41 million firm, fixed-price contract from the Department of Energy's (DOE) National Nuclear Security Administration (NNSA) for the conversion and delivery of a B737-700 aircraft modified into a "FlexCombi" configuration.
The NNSA will increase its fleet size to support mission-critical activities to maintain the safety, security, and effectiveness of the United States' nuclear deterrent capacity.
The FlexCombi configuration gives the NNSA the ability to quickly configure the aircraft between passenger and/or cargo modes, serving ever-evolving mission requirements.
The company expects to commence the work immediately and complete it within twelve months.
Price Action: AIR shares are trading lower by 1.69% at $31.405 on the last check Monday.