Air T Stock Price, News & Analysis

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.

Air T, Inc. (NASDAQ:AIRT) reported fiscal year results ending March 31, 2021, revealing significant challenges due to the COVID-19 pandemic. Revenues fell by 26% to $175.1 million, leading to an operating loss of $9.2 million. Adjusted EBITDA also decreased to a loss of $1.3 million, contrasting with a profit of $9.0 million the previous year. Shareholders faced a loss per share of $2.53, a stark decline from income per share of $2.74 in fiscal 2020. Total equity decreased by 41.2% to $14.7 million.

Air T, Inc. (NASDAQ:AIRT) has announced that its Warrants (NASDAQ:AIRTW) to purchase Alpha Income Preferred Securities (NASDAQ:AIRTP) will expire on August 30, 2021, without further extension. The expiration timeline leaves only 42 trading days for warrant holders to exercise their rights, which allows the purchase of Trust Preferred securities at $24.00, below its recent trading value of $25.00. Each Warrant grants the right to buy one-tenth of a share of AIP for $2.40. More information can be found in the company's prospectus on the SEC's website.

Air T, Inc. (NASDAQ:AIRT) announced the establishment of Contrail Asset Management (CAM) and Contrail JV II LLC (CJVII), aimed at acquiring and managing commercial jet aircraft assets. The new venture, capitalized with up to $408 million, includes significant equity commitments from Air T and three institutional partners. The initiative focuses on current-generation aircraft and engines, enhancing services for airline customers. The management team, recognized for expertise in aviation asset management, aims to build a scalable business amid post-pandemic recovery.

Air T, Inc. (NASDAQ:AIRT) reported financial results for Q3 2020, with revenues from continuing operations at $55.8 million, down 23.9% year-over-year. Operating income declined to $1.1 million, a $2.6 million drop from the previous year, while adjusted EBITDA was $1.3 million, down from $4.1 million. Despite challenges from COVID-19, the aviation ground equipment segment showed growth with revenues increasing 30% to $20.8 million. Total equity fell by 12.4% to $21.9 million as of December 31, 2020.

Air T, Inc. (NASDAQ:AIRT) announced the extension of its Warrants (NASDAQ:AIRTW) to purchase Alpha Income Preferred (AIP) securities (NASDAQ:AIRTP) through August 30, 2021. Originally set to expire on January 15, 2021, each Warrant allows the purchase of one-tenth of a share of AIP for $2.40, totaling $24.00 per full share, which is a 4% discount from the stated value of $25.00.

Prospectus details can be accessed via SEC's EDGAR or by contacting the company directly.

Air T, Inc. (NASDAQ:AIRT) announced plans to create a new aircraft asset management business, Contrail Aircraft Management (CAM), and a joint venture, Contrail Fund II (CFII), with three investment firms. The new entity aims to raise approximately $108 million in equity to acquire, manage, and sell aircraft and engines. CAM will manage CFII, with a focus on whole aircraft acquisitions and part-out solutions. The anticipated formation is set for late January 2021, although finalization is contingent on further review and conditions.

Air T, Inc. (NASDAQ:AIRT) reported its fiscal Q2 2020 results, revealing revenues of $35.6 million, a 30% decline from the previous year. The company experienced an operating loss of $3.7 million, a significant drop from a profit of $0.5 million in Q2 2019. Adjusted EBITDA also fell to a loss of $2.7 million, compared to a profit of $1.2 million in the same quarter last year. Loss per share was $1.01, down from a profit of $1.89. Equity decreased by 17.2% from $25 million to $20.7 million over the same period, reflecting ongoing challenges amid the COVID-19 pandemic.

Air T, Inc. (NASDAQ:AIRT) reported a revenue decline of 22%, totaling $37.0 million for the quarter ended June 30, 2020. Operating loss was $0.3 million, down from a $1.0 million profit last year, with an adjusted EBITDA of $0.1 million compared to $1.5 million in the previous year. Loss per share reached $0.29, contrasting with a profit of $0.79 last year. Total equity fell from $25.0 million to $24.5 million. The company emphasized the impact of COVID-19 on its aircraft parts business while highlighting a diversified portfolio and maintaining employee retention through a PPP loan.