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.
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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.