Altair International Corp. President Provides Open Letter to Shareholders
Rhea-AI Summary
Altair International Corp. (ATAO) has released a shareholder letter from President Ross Gourdie highlighting the company's recent merger with Premier Air Charter. The company reported a 12% year-over-year revenue growth of nearly $10 million in the first half of last year due to new aircraft acquisitions.
Operating in the $32 billion global air charter market, Premier Air Charter has expanded its fleet to 10 aircraft with the addition of two Gulfstream IV aircraft. The company has applied for a '10 or more' passenger FAA certificate to pursue higher-value charter opportunities.
Premier Air Charter maintains an in-house maintenance team and is seeking certification to service other charter airline aircraft as a new revenue stream. The company aims to capitalize on the strong market conditions, as North American private jets logged 5,238,986 flight hours in 2024, marking a 16.3% increase from pre-Covid 2019 levels.
Positive
- 12% year-over-year revenue growth of nearly $10 million
- Fleet expansion to 10 aircraft with addition of two Gulfstream IV aircraft
- In-house maintenance team provides competitive advantage
- Potential new revenue stream from maintenance services for other charter airlines
Negative
- Operating in a highly fragmented industry with significant competition
- Pending FAA certification for '10 or more' passenger operations
- Maintenance service expansion still requires permitting and certification
News Market Reaction
On the day this news was published, ATAO declined 15.09%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
CARLSBAD, CA / ACCESS Newswire / April 22, 2025 / Altair International Corp. (OTC PINK:ATAO), the parent company of Premier Air Charter, Inc. ("Premier Air Charter", "Premier"), today released the following letter from Company President, Ross Gourdie, to its shareholders.
Dear Fellow Shareholders,
Earlier this year, we finalized our merger with Premier Air Charter. We've jumpstarted our plans, business goals, and organic growth with this strategic acquisition. With that, I would like to take the opportunity to introduce Premier Air Charter, Inc., and myself to you, our valued shareholders. Let's briefly discuss our current success as well as our expectations for 2025 and beyond.
To begin, I feel honored leading our company and team of extraordinary, world-class professionals. Our team, united in our efforts, has helped guide us through a continued transformative period permanently strengthening the value of our organization. I'm proud of our combined efforts and progress.
With the global air charter market currently valued at
According to TRAQPak, North American private jets, in aggregate, logged 5,238,986 flight hours in 2024, making it the industry's third-best year ever. That's 732,711 more hours than pre-Covid 2019 levels, representing a
To support this trajectory, Premier Air Charter has applied for a "10 or more" passenger FAA certificate following our acquisition of two Gulfstream IV aircraft. These large-cabin jets round out our 2025 strategy, bringing our total aircraft count to 10, and enable us to meet rising demand and expand into higher-value charter opportunities.
We take great pride in our in-house maintenance team, which we believe provides Premier with a strong competitive advantage. We prioritize safety and reliability by maintaining our diverse fleet, through the meticulous work of our team. This approach ensures each aircraft meets the highest standards, providing our clients with a seamless and secure travel experience.
Premier is currently seeking the permitting and certification to allow our maintenance team the ability to work on other charter airline aircraft. The goal is to create a new revenue stream for our company and provide yet another competitive advantage.
Despite competing in a fragmented industry, we believe Premier Air Charter is uniquely positioned to drive growth, redefine excellence in customer service, and solidify our standing as the premier jet charter provider in the U.S. market.
On behalf of the Altair team, I thank each shareholder for your continued support as we enact our vision and strategy to bring continued success now and throughout 2025.
Thank you,
Ross Gourdie
About Altair
Altair International Corp. (OTC:ATAO) is a diversified holding company.
About Premier Air Charter
Premier Air Charter LLC is a San Diego, California-based aircraft charter provider that serves an international community of aviation enthusiasts. The company specializes in creating trusted partnerships within the aviation industry to deliver bespoke aviation solutions for its clients. With a focus on reliability, innovation, and sustainability, Premier Air Charter aims to continuously exceed expectations, fostering lasting relationships and becoming the preferred choice for private air travel worldwide. For more information, please visit www.premieraircharter.com.
Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission.
Media Contact:
Ross Gourdie, President
Premier Air Charter
(858) 304-2665
office@premieraircharter.com
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SOURCE: Altair International Corp.
View the original press release on ACCESS Newswire
FAQ
What was ATAO's revenue growth in the last reported period?
How many aircraft does Premier Air Charter currently operate?
What was the total flight hours for North American private jets in 2024?
What new revenue stream is ATAO pursuing through its maintenance division?
