Air T Welcomes Creditor Support for Rex Acquisition

Rhea-AI Summary

Air T (NASDAQ:AIRT) announced that a majority of Rex creditors, both by number and by value, voted in favour of Air T's bid at the second creditors' meeting on 11 November 2025.

The company said the vote signals creditor support for its proposed Deed of Company Arrangement and that the Administrators intend to close the transaction by year-end 2025. Air T stated it is working with all parties to ensure a smooth completion and highlighted its commitment to regional aviation across Australia.

The release also directs stakeholder questions to an interactive Q&A on Slido accessible from Air T's website, with live and written answers at the Annual Meeting and quarterly written responses.

Positive

• Majority creditor approval by number and value (meeting vote on 11 Nov 2025)
• Administrators expect to close transaction by year-end 2025
• Company expresses clear commitment to regional aviation in Australia

Negative

• Transaction not final; completion remains subject to Administrators' closing by year-end 2025

MINNEAPOLIS, MINNESOTA / ACCESS Newswire / November 11, 2025 / Air T, Inc. (NASDAQ:AIRT) is pleased to announce that a majority of Rex's creditors-both in number and in value-have voted in favor of our bid to acquire Rex at the second meeting of creditors held on 11 November 2025.

This strong endorsement reflects confidence in our vision for Rex and our commitment to regional aviation in Australia. We take our responsibilities under the proposed Deed of Company Arrangement seriously.

We understand the Administrators intend to close the transaction by year-end, and we are working closely with all parties to ensure a smooth and timely completion.

Air T is grateful for the support shown throughout this process and looks forward to finalizing the acquisition and beginning a new chapter for Rex and regional communities across Australia.

NOTE REGARDING STAKEHOLDER QUESTIONS

If you have questions related to this release or other Air T matters, please use our interactive Q&A capability, through Slido.com, accessible from our website, to submit your questions. We intend to keep that link open and available for shareholder questions. Questions submitted through Slido will be answered "live" and in writing at our Annual Meeting, and via a written response on a quarterly basis. Note that legal and pragmatic requirements restrict us from answering every question posted, yet we intend to address all reasonable and relevant questions with a written answer.

ABOUT AIR T, INC.

Established in 1980, Air T Inc. is a portfolio of powerful businesses and financial assets, each of which is independent yet interrelated. Its core segments are overnight air cargo, ground support equipment, commercial aircraft, engines and parts, and digital solutions. We seek to expand, strengthen and diversify Air T's after-tax cash flow per share. Our goal is to build Air T's core businesses, and when appropriate, to expand into adjacent and other industries. We seek to activate growth and overcome challenges while delivering meaningful value for all stakeholders. For more information, visit www.airt.com. The information on our website is available for information purposes only and is not incorporated by reference into this press release.

FORWARD-LOOKING STATEMENTS

Certain statements in this press release, including those contained in "Overview," are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the Company's financial condition, results of operations, plans, objectives, future performance and business. Forward-looking statements include those preceded by, followed by or that include the words "believes", "pending", "future", "expects", "anticipates," "intends", "estimates", "depends", "will" or similar expressions. These forward-looking statements involve risks and uncertainties. Actual results may differ materially from those contemplated by such forward-looking statements, because of, among other things, potential risks and uncertainties, such as:

• An inability to finance our operations through bank or other financing or through the sale or issuance of debt or equity securities;

• Economic and industry conditions in the Company's markets;

• The risk that contracts with FedEx could be terminated or adversely modified;

• The risk that the number of aircraft operated for FedEx is reduced;

• The risk that GGS customers will defer or reduce significant orders for deicing equipment;

• The impact of any terrorist activities or armed conflict on United States soil or abroad;

• Changes in U.S. and foreign trade regulations and tariffs;

• The Company's ability to manage its cost structure for operating expenses, or unanticipated capital requirements, and match them to shifting customer service requirements and production volume levels;

• The Company's ability to meet debt service covenants and to refinance existing debt obligations;

• The risk of injury or other damage arising from accidents involving the Company's overnight air cargo operations, equipment or parts sold and/or services provided;

• Market acceptance of the Company's commercial and military equipment and services;

• Competition from other providers of similar equipment and services;

• Changes in government regulation and technology;

• Changes in the value of marketable securities held as investments;

• Mild winter weather conditions reducing the demand for deicing equipment;

• Market acceptance and operational success of the Company's aircraft asset management business and related aircraft capital joint venture; and

• Despite our current indebtedness levels, we and our subsidiaries may still be able to incur substantially more debt, which could further exacerbate the risks associated with our substantial leverage.

A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances, and those future events or circumstances may not occur. We are under no obligation, and we expressly disclaim any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT

Tracy Kennedy
Chief Financial Officer
tkennedy@airt.com

SOURCE: Air T, Inc.

View the original press release on ACCESS Newswire

FAQ

What did Air T (AIRT) announce about the Rex acquisition on 11 November 2025?

Air T said a majority of Rex creditors by number and value voted in favour of its bid at the second creditors' meeting on 11 November 2025.

Is the Air T (AIRT) acquisition of Rex completed and when will it close?

The company said the Administrators intend to close the transaction by year-end 2025, but the deal is not yet final.

What does the creditors' vote mean for Rex employees and regional routes under Air T (AIRT)?

The release says the vote endorses Air T’s vision and its stated commitment to regional aviation across Australia; no operational details were provided.

Where can shareholders submit questions about Air T (AIRT) and the Rex acquisition?

Shareholders can use the interactive Q&A on Slido via Air T’s website; questions will be answered live at the Annual Meeting and in quarterly written responses.

Did Air T (AIRT) disclose financial terms or purchase price for Rex on 11 November 2025?

The announcement did not disclose any financial terms or a purchase price for the proposed acquisition.