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Air T, Inc. - $AIRT STOCK NEWS

Welcome to our dedicated page for Air T news (Ticker: $AIRT), a resource for investors and traders seeking the latest updates and insights on Air T stock.

Air T Inc. (NASDAQ: AIRT) is a diversified holding company that operates in the aviation and logistics sectors. Established in 1980, Air T Inc. provides a range of services through its subsidiaries, including overnight air cargo, aviation ground support equipment manufacturing and sales, commercial jet engine and parts management, and other corporate operations.

Overnight Air Cargo: Air T Inc. operates through Mountain Air Cargo (MAC) and CSA Air (CSA), offering small package overnight air freight delivery services predominantly for FedEx. With a fleet of approximately 90 aircraft, these subsidiaries ensure timely deliveries across the eastern United States, Puerto Rico, and the Caribbean.

Aviation Ground Support Equipment Manufacturing: The company’s subsidiary, Global Ground Support (GGS), is renowned for its production of aircraft de-icing equipment. GGS caters to passenger and cargo airlines, airports, military, and industrial clients, manufacturing mobile deicers and other specialized equipment.

Commercial Jet Engines and Parts: This segment focuses on leasing commercial jet engines and aircraft, as well as buying, selling, and trading surplus and aftermarket parts. Subsidiaries like Worthington Aviation and Contrail Aviation Support are key players in this domain, ensuring a steady supply of aviation components.

Corporate and Other: Air T Inc. also invests in corporate functions and provides additional resources to its business units, including investment research and management services.

Financial Overview: For the fiscal year ended March 31, 2023, Air T Inc. reported revenues of $247.3 million, a 40% increase from the previous year. However, the company faced an operating loss of $4.4 million, reflecting the challenges within the industry. Despite these challenges, the firm continues to focus on profitable and sustainable growth across its diverse business segments.

Recent Developments: The company recently completed a $15 million private note transaction to securitize its aviation-related joint ventures. This strategic move aims to strengthen the company's financial position and support further investments in the aviation sector.

Air T Inc. is committed to delivering value to its stakeholders by focusing on operational excellence and adapting to market conditions. For more information, visit www.airt.net.

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The145.com partners with Ambry Hill Technologies to introduce Vista-Quote RFQ platform, enhancing efficiency for aviation aftermarket parts suppliers and MROs. The collaboration aims to revolutionize the quote response process, offering a streamlined system for managing RFQs.
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Air T, Inc. (NASDAQ:AIRT) closed a $15 million private note transaction with a major pension plan, issuing 7-year notes at 8.5% interest. The transaction allows the company to securitize its ownership in aviation-related joint ventures to raise non-recourse debt, pay down existing debt, and make further investments. Proceeds were used to pay off revolving debt with Minnesota Bank & Trust. CEO Nick Swenson views the transaction positively as a strategic move for the company's growth and future opportunities.
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Air T, Inc. (NASDAQ:AIRT) reports Q3 fiscal results with $63.8 million in revenues, a $1.6 million operating loss, and a $0.4 million Adjusted EBITDA loss. The company's total equity decreased by $5.0 million. Chairman and CEO Nick Swenson addresses unexpected revenue decline in Ground Equipment Sales segment.
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Air T, Inc. (NASDAQ: AIRT) announces dividend dates and record dates for Air T Funding Alpha Income Preferred (AIP) securities (NASDAQ: AIRTP) for 2024 and 2025. Cash distributions on the AIP are at a rate of 8.0% per annum, amounting to $0.50 per share.
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Ashland Place Finance LLC completed a new facility financing the acquisition of three B737-800 freighters for Atalaya Capital Management and Crestone Air Partners. This is the second transaction with each of Atalaya and Crestone, having previously financed a 777-300ER for Atalaya and four CFM56 engines for Crestone. The Executive Director of Ashland Place expressed satisfaction in partnering with Atalaya and Crestone, while the Principal at Atalaya praised the creative and collaborative nature of their work together. The CEO of Crestone also acknowledged the deep understanding and expertise of the Ashland Place team.
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Air T, Inc. (NASDAQ:AIRTP) completes a private placement of $4.0 million of its 8% Trust Preferred Securities at a price of $17.00 per share for a 12.1% yield to maturity. The principal buyers were its largest shareholder and their affiliates. The Company anticipates offering additional TruPs at the same price or better. The offering allows for expansion and investment in various subsidiaries and business initiatives.
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Air T, Inc. (NASDAQ:AIRT) reported Q2 2023 revenues of $79.0 million, a 30% increase YoY. Adjusted EBITDA profit was $1.5 million, down from $2.3 million in the prior year. Loss per share was $0.57. Total Equity decreased by 15%. The company highlighted the significant contribution from Worldwide Aircraft Services in the Overnight Air Cargo segment, lower sales at Global Ground Support, and strong growth in Commercial Jet Engines and Parts.
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Air T, Inc. (NASDAQ:AIRT) is an American company with a diverse portfolio. The fiscal first quarter results for 2023 show revenues of $71.4 million, a 40% increase from the prior year. The operating income was $0.7 million, and the adjusted EBITDA profit was $1.4 million. However, the loss per share was $0.19, and total equity decreased by 5% from the previous quarter.
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FAQ

What services does Air T Inc. offer?

Air T Inc. offers overnight air cargo services, aviation ground support equipment manufacturing and sales, commercial jet engine and parts management, and other corporate services.

Who are the primary customers of Air T Inc.’s overnight air cargo segment?

The primary customer for Air T Inc.'s overnight air cargo segment is FedEx.

What recent financial performance did Air T Inc. report?

For the fiscal year ended March 31, 2023, Air T Inc. reported revenues of $247.3 million with an operating loss of $4.4 million.

What is the focus of Air T Inc.’s subsidiary Global Ground Support?

Global Ground Support focuses on manufacturing aircraft de-icing equipment and other specialized ground support equipment for airlines, airports, military, and industrial clients.

How is Air T Inc. diversifying its financial strategy?

Air T Inc. recently completed a $15 million private note transaction to securitize its aviation-related joint ventures, strengthening its financial position and supporting further investments.

Where does Air T Inc. operate its overnight air cargo services?

Air T Inc. operates its overnight air cargo services primarily in the eastern United States, Puerto Rico, and the Caribbean.

What is the significance of the company's commercial jet engines and parts segment?

This segment leases commercial jet engines and aircraft, and buys, sells, and trades surplus and aftermarket parts, playing a critical role in the aviation industry's supply chain.

What is the primary goal of Air T Inc.’s corporate strategy?

Air T Inc. aims to expand, strengthen, and diversify its after-tax cash flow per share while delivering meaningful value for all stakeholders.

How does Air T Inc. ensure operational excellence?

Air T Inc. focuses on using corporate resources to activate growth, overcome challenges, and maintain high standards in operational performance across its business segments.

How can investors get more information about Air T Inc.?

Investors can visit Air T Inc.’s official website at www.airt.net for more information on the company’s services, financial performance, and latest updates.

Air T, Inc.

Nasdaq:AIRT

AIRT Rankings

AIRT Stock Data

44.36M
996.81k
50.34%
24.34%
0.18%
Couriers and Express Delivery Services
Transportation and Warehousing
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United States of America
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