Xe Sells Aviation Unit To AAR For 200 Million

The security company formerly known as Blackwater is shedding its aviation division, selling the unit for $200 million to AAR Corp.

The two companies announced the deal Thursday evening. North Carolina-based Blackwater now operates under the name Xe Services. Xe said the deal allows the company "to move forward on a firmer economic basis."

Wood Dale, Ill.-based AAR will get the aviation units that operate under the umbrella name of Aviation Worldwide Services. That division has a fleet of 58 aircraft, many of which are used under U.S. government contract in Afghanistan.

AAR Chairman and CEO David P. Storch said in a statement that the market for government aviation "represents a tremendous growth opportunity."

You must be logged in to post comments.

Password (case sensitive):
Remember Me:

275 E. Arlington Blvd. Greenville, NC 27858 252-439-7777
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 89194242 - witn.com/a?a=89194242
Gray Television, Inc.