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.
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.
Air T, Inc. (AIRT) reported Q2 2020 results, revealing revenues of $37.0 million, a 22% decline from the previous year. Operating loss was $0.3 million, compared to a $1.0 million profit last year. Adjusted EBITDA fell to $0.1 million from $1.5 million. Loss per share reached $0.29, contrasting with $0.79 earnings per share a year prior. The Equity decreased by 2.0% to $24.5 million. Notably, the Aviation Ground Support Equipment segment saw a 29% revenue increase, while the Commercial Jet Engines and Parts segment suffered a significant $11.6 million drop in revenues due to COVID-19 impacts.