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) reported a strong fiscal second quarter ended September 30, 2022, with revenues of $60.7 million, up 40% year-over-year. Adjusted EBITDA reached $2.3 million, compared to $1.1 million in the prior year. However, operating income fell to $0.2 million, down $0.5 million from last year, and the company reported a loss per share of $0.43, compared to earnings of $2.62 in the same quarter last year. Total equity decreased by 7% to $23.9 million.
Air T, Inc. (NASDAQ:AIRT) reported impressive first-quarter results for the fiscal year ending June 30, 2022. Revenues soared to $50.9 million, up 38% year-over-year. Operating income increased to $0.8 million from a loss last year, and Adjusted EBITDA reached $1.5 million, improving from $0.3 million in the prior year. However, the company reported a loss per share of $0.50, contrasting with a gain of $0.10 from the previous year. Total equity dropped to $25.1 million, a 2% decrease since March 31, 2022.
Ashland Place Finance has successfully closed an engine facility financing deal involving four CFM56 engines leased to Cebu Air in the Philippines and TUI Airways in the UK. This partnership with Crestone Air Partners is significant for enhancing Ashland's commercial aviation financing capabilities. Both companies express optimism about the collaboration, aiming to provide tailored solutions and capital support to the aviation sector.
Air T, Inc. (NASDAQ:AIRT) has formed Crestone Air Partners, a wholly owned subsidiary dedicated to trading, leasing, and managing commercial aviation assets. With over 100 years of combined industry experience, Crestone supports a previously announced $100 million equity deployment joint venture, with potential for an additional $300 million. The unit will focus on acquiring mid-to-end of life commercial jets and engines, offering competitive leasing terms and a complete lifecycle solution. This strategic move aims to enhance value for investors and clients.
Air T, Inc. (NASDAQ:AIRT) reported a 1.1% year-over-year revenue increase, totaling $177.1 million for the fiscal year ending March 31, 2022. Operating income rose significantly to $8.8 million, recovering from a previous loss. Adjusted EBITDA improved to $11.4 million, reversing a $1.3 million loss in the prior year. Net income per share was $3.79, compared to a loss of $2.53 per share previously. Total equity surged by 68% to $24.7 million, reflecting enhanced financial health. Key segments like overnight air cargo and commercial jet engines showed positive growth, despite challenges in the aviation ground equipment segment.
Air T, Inc. (NASDAQ:AIRT) reported a Q3 FY2022 revenue of $45.4 million, an 18.6% decline from the previous year. Operating income dropped to $25,000, down from $1.1 million in Q3 last year. The company reported a loss per share of $0.44, reversing from a profit of $0.73. Despite the decrease in revenue, total equity increased by 44.9% to $21.3 million. Notably, the Overnight Air Cargo segment saw a 12% revenue increase, while Aviation Ground Equipment revenues fell 27%.
Air T, Inc. (NASDAQ:AIRT) announced the record and payment dates for its Alpha Income Preferred (AIP) securities (NASDAQ:AIRTP) for the years 2022 and 2023. AIP holders will receive cash distributions of $0.50 per share, equivalent to an 8.0% annual rate based on par value. Key payment dates include February 15, May 16, August 15, and November 15 for 2022, and similar dates in 2023. Established in 1980, Air T focuses on air cargo, aviation support equipment manufacturing, and aircraft asset management, aiming to enhance cash flow and stakeholder value.
Air T, Inc. (NASDAQ:AIRT) reported fiscal second-quarter results for the period ending September 30, 2021, showing significant growth with revenues hitting $43.2 million, a 21% increase year-over-year. Operating income improved to $0.7 million, up from a loss of $3.7 million in the prior year, while Adjusted EBITDA reached $1.1 million, a recovery from a loss of $2.7 million. Earnings per share stood at $2.62, contrasting last year's loss of $1.01. Total equity surged by 56.5% to $23.0 million.
Air T, Inc. (NASDAQ:AIRT) reported fiscal Q1 2022 results, with revenues of $36.9 million, unchanged from the previous year. The operating loss improved to $4,000 from $266,000 year-over-year. Adjusted EBITDA profit increased to $0.3 million from $87,000. Earnings per share reached $0.10, a recovery from a loss of $0.29 in the same quarter last year. Total equity rose by 1.4% to $14.9 million. Positive signs were noted in the Commercial Jet Engines segment, amid ongoing recovery from the pandemic.