06:04 PM EST, 12/19/2024 (MT Newswires) -- AAR (AIR) said Thursday it reached resolutions with the Department of Justice and the Securities and Exchange Commission to resolve potential violations of the US Foreign Corrupt Practices Act over some deals in 2016 and 2017 in Nepal and South Africa.

The company said it will pay about $55.6 million, inclusive of penalties, forfeiture, and prejudgment interest, to resolve the matters.

AAR said the payment will be reflected as a one-time charge in its financial statements for fiscal year 2025 second quarter ended Nov. 30, 2024.

The DOJ and SEC separately confirmed the settlement agreement.