<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>gullionfm3.txt
<DESCRIPTION>FORM 3 FOR JOSEPH M. GULLION
<TEXT>

1. Name and Address of Reporting Person
   Gullion, Joseph M.
   1100 N. Wood Dale Road
   Wood Dale, IL 60191-
2. Date of Event Requiring Statement (Month/Day/Year)
   06/01/2001
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
   AAR CORP. (AIR)
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
   ( ) Director                   ( ) 10% Owner
   (X) Officer (give title below) ( ) Other (specify below)
   Executive Vice President and Chief Operating Officer
6. If Amendment, Date of Original (Month/Day/Year)
7. Individual or Joint/Group Filing (Check Applicable Line)
   (X) Form filed by One Reporting Person
   ( ) Form filed by More than One Reporting Person
<TABLE>
TABLE I -- Non-Derivative Securities Beneficially Owned
<CAPTION>
+------------------------------------------+----------------------+----------------+-----------------------------------------------+
|1. Title of Security                      |2. Amount of          |3. Ownership    |4. Nature of Indirect Beneficial Ownership     |
|                                          |   Securities         |   Form:        |                                               |
|                                          |   Beneficially Owned |   Direct(D) or |                                               |
|                                          |                      |   Indirect(I)  |                                               |
+------------------------------------------+----------------------+----------------+-----------------------------------------------+
<S>                                         <C>                    <C>              <C>
Common Stock                                10000                  D
</TABLE>

<PAGE>

<TABLE>
TABLE II -- Derivative Securities Beneficially Owned
<CAPTION>
+-----------------------+---------------------+---------------------------------+----------+-------------+-------------------------+
|1.Title of Derivative  |2.Date Exercisable   |3.Title and Amount of Securities |4.Conver- |5.Ownership  |6. Nature of Indirect    |
|  Security             |  and Expiration Date|  Underlying Derivative          | sion or  | Form of     |   Beneficial Ownership  |
|                       |  (Month/Day/Year)   |  Security                       | Exercise | Derivative  |                         |
|                       +----------+----------+-----------------------+---------+ Price of | Security:   |                         |
|                       | Date     | Expira-  |                       |Amount or| Deri-    | Direct(D) or|                         |
|                       | Exer-    | tion     |         Title         |Number of| vative   | Indirect(I) |                         |
|                       | cisable  | Date     |                       |Shares   | Security |             |                         |
+-----------------------+----------+----------+-----------------------+---------+----------+-------------+-------------------------+
<S>                      <C>        <C>        <C>                     <C>       <C>        <C>           <C>
Stock Option             04/10/2001 04/10/2011 Common Stock            25000     $11.31     D
                                                                       <F1>

Explanation of Responses:
<FN>
<F1>
Grantee may elect to pay the exercise price of the option or any tax withholding
obligation in connection therewith by directing the Company to withhold a
portion of the shares otherwise distributable to the grantee upon exercise or by
transferring to the Company previously acquired shares, valued at their fair
market value on such taxable date.
</FN>
</TABLE>

SIGNATURE OF REPORTING PERSON
/s/ Joseph M. Gullion

DATE
06/08/2001
</TEXT>
</DOCUMENT>
