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. (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.