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) maintains a diversified presence across aviation services through its air cargo operations, ground equipment solutions, and commercial jet engine parts management. This news hub provides investors and industry professionals with essential updates about the company's strategic initiatives and market position.
Access comprehensive coverage of AIRT's operational developments including earnings announcements, regulatory filings, partnership agreements, and leadership updates. Our curated collection ensures you stay informed about critical events affecting this multifaceted aviation services provider.
Key focus areas include air freight capacity expansions, FAA-certified operations, aftermarket parts distribution, and ground support equipment innovations. All content is sourced directly from company disclosures and verified industry channels to ensure reliability.
Bookmark this page for streamlined access to Air T Inc.'s latest business developments. Check regularly for updates on contract awards, subsidiary performance metrics, and aviation industry trends directly impacting the company's diversified operations.
Air T, Inc. (NASDAQ:AIRT) announced a Modified Dutch Auction to exchange up to 138,000 shares of Common Stock for TruPs (8.0% Alpha Income Trust Preferred Securities) valued at $25.00 each. The exchange offer aims to provide shareholders with a premium (13% to 51%) over the current market price of $23.21 per share. This opportunity is available until July 6, 2023, and allows shareholders to choose how many TruPs they wish to exchange. The Board believes this offer benefits shareholders amid market volatility, as it represents approximately 4.9% of the outstanding shares.
Mountain Air Cargo, Inc. (MAC), a FedEx air cargo feeder airline, has successfully launched the world's first C408 SkyCourier route between Tallahassee and Orlando on January 3, 2023. This addition to MAC's fleet enhances its capacity, with plans to acquire a total of eight C408 SkyCouriers by year-end. The aircraft can carry up to 6,000 pounds, doubling the capacity of the C208 Caravan. MAC's partnership with FedEx continues to thrive, as it marks 40 years of operations. The C408 SkyCourier not only bolsters freight capabilities but also promotes career growth for pilots in the expanding air cargo sector.
Air T, Inc. (NASDAQ:AIRT) announced its fiscal Q3 results for the period ending December 31, 2022, reporting revenues of $61.4 million, a 35% increase year-over-year. Operating income rose to $135,000, up from $25,000. Adjusted EBITDA was $1.3 million, up from $0.5 million, while the loss per share improved to $0.21 from $0.44. However, total equity decreased by 12% to $22.5 million. The company highlighted growth in its aviation segments, particularly in air cargo and commercial jet engine parts, despite rising corporate overhead costs.
FAQ
What is the current stock price of Air T (AIRT)?
What is the market cap of Air T (AIRT)?
