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) generates a steady flow of company news through its portfolio of aviation-focused businesses and financial assets. Established in 1980, the company reports operations across overnight air cargo, ground support equipment, commercial aircraft, engines and parts, and digital solutions, which together create multiple sources of corporate and operational updates.
News about Air T often highlights developments in its core aviation segments. In overnight air cargo, the company reports on its air express delivery services, primarily for FedEx, and related maintenance activity. In ground support equipment, updates can involve manufacturing and sales of mobile deicers and specialized ground-support equipment for airlines, airports, the military and industrial customers, as well as changes in order backlog and segment performance.
The commercial aircraft, engines and parts segment frequently appears in disclosures related to leasing activity, trading of surplus and aftermarket engines and components, and shifts in market conditions for whole assets and parts packages. Digital solutions news may cover growth in aviation-focused software subscriptions and the scaling of recurring revenue services.
Recent headlines have also focused on Air T’s acquisition of Regional Express Holdings Limited (Rex), described as Australia’s leading regional airline. Press releases and Form 8-K filings detail the completion of this transaction, associated financing arrangements, and the role of Rex in serving regional and remote communities across Australia.
Investors following AIRT news can also expect updates on financing agreements, such as multi-year capital arrangements supporting subsidiaries like Crestone Air Partners, and information about investor presentations, annual meetings and non-GAAP performance measures. This news page aggregates these disclosures so readers can review segment trends, portfolio moves and capital structure developments in one place.
Latitude Aero, a leading aircraft seating refurbishment company, has received FAA approval for digital recordkeeping through the implementation of Vista-Suite.com Enterprise, a cloud-based ERP and MRO software from Ambry Hill Technologies. The system complies with FAA AC 120-78A guidelines, enabling electronic signatures, record keeping, and manuals. This transition from paper-based to digital documentation allows Latitude Aero to streamline compliance processes, reduce documentation time, and operate remotely while maintaining FAA standards for cybersecurity, audit trails, and digital storage.
Air T, Inc. (NASDAQ:AIRT) has appointed Tracy Kennedy as Chief Financial Officer, effective October 16, 2024. Tracy has been with Air T for over six years, previously serving as Director of Accounting, Corporate Controller, and Chief Accounting Officer. She has been instrumental in developing the accounting department during a period of significant growth.
CEO Nick Swenson praised Tracy's leadership, financial expertise, and commitment to excellence. Tracy expressed excitement about her new role, emphasizing her deep knowledge of Air T's operations and culture. She aims to drive success and create long-term shareholder value in her position as CFO.
Air T has implemented an interactive Q&A capability through Slido.com for stakeholder questions, which will be addressed at the Annual Meeting and through quarterly written responses.
Air T, Inc. (NASDAQ:AIRT) has announced that its 2024 Annual Meeting of Stockholders will be accessible via webcast and in-person on August 21, 2024, at 8:30 AM Central Time. Stockholders of record as of July 2, 2024, or those holding legal proxies, are eligible to attend and vote. The meeting will be held at the company's St. Louis Park office in Minneapolis, with directors and management physically present.
To participate, stockholders can visit https://agm.issuerdirect.com/airt and follow registration instructions. Questions can be submitted during the meeting or in advance through slido.com using the event code #AIRTQA. Regardless of attendance plans, stockholders are encouraged to vote in advance by mail, telephone, or internet as described in the proxy materials.
Air T, Inc. (NASDAQ:AIRT) reported its Q1 fiscal 2025 results, revealing a 7% decrease in revenues to $66.4 million compared to the previous year. The company experienced an operating loss of $0.6 million, down from an operating income of $0.7 million in the prior year. Adjusted EBITDA profit decreased to $0.7 million from $1.4 million year-over-year. The loss per share improved to $0.12 from $0.19 in the comparable quarter. Total equity declined by 10% to $5.2 million.
Segment performance varied, with Overnight Air Cargo seeing a 10% revenue increase, while Ground Equipment Sales experienced a 38% revenue decrease. The Commercial Jet Engines and Parts segment reported lower revenues, and the Corporate segment's Adjusted EBITDA loss slightly increased.
Air T, Inc. (NASDAQ:AIRT) has announced the departure of its Chief Financial Officer, Brian Ochocki, effective September 3, 2024. Ochocki is leaving to pursue a CFO position at a local company in an industry he enjoys. Nick Swenson, Chairman and CEO, expressed gratitude for Ochocki's contributions over the past 5 years, particularly in guiding the company through the pandemic, developing accounting and finance functions, and completing financing and M&A transactions.
The company has initiated a search for a successor. In the interim, Tracy Kennedy, Chief Accounting Officer, will oversee financial operations. Air T has implemented an interactive Q&A capability through Slido.com for stakeholder questions, which will be addressed at the Annual Meeting and in quarterly written responses.
Air T, Inc. (NASDAQ: AIRT) reported its Fiscal 2024 results, highlighting a revenue increase of 16% to $286.8 million compared to the previous fiscal year. Operating income was $1.3 million, reversing a prior fiscal year's operating loss of $4.4 million. Adjusted EBITDA amounted to $5.6 million, a slight decrease from $6.0 million the previous year. The loss per share improved to $2.42 from $4.32. However, total equity dropped significantly by 55.2% to $5.8 million.
The Overnight Air Cargo segment saw revenues rise by 28% to $115.5 million, while the Ground Equipment Sales segment experienced a 23% decline in revenues to $37.2 million. The Commercial Jet Engines and Parts segment reported a revenue increase of 23.4% to $125.5 million. Company CEO Nick Swenson noted that the year laid a strong foundation for a promising FY2025.
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