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. reports developments across a portfolio of aviation businesses and financial assets. Its recurring updates cover operating results, segment activity, completed acquisitions, and capital-structure actions tied to its common stock and Alpha Income Preferred Securities (AIRTP).
The company's operating areas include overnight air cargo services, aviation ground-support equipment manufacturing and maintenance, commercial aircraft engines and parts leasing and trading, digital aviation services, and Rex regional airline operations in Australia. Company announcements also address AIRTP distributions, investor presentations, material agreements, and governance changes.
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.