KC Armada LP reports large Madison Air (MAIR) indirect stock holdings

Rhea-AI Filing Summary

Madison Air Solutions Corp reported that KC Armada LP is a ten percent owner of its Class A Common Stock. The filing lists indirect holdings of 7,224,073 shares by Kedge Capital Principal Opportunities V, LP and 37,616,998 shares by K.C. Armada, LP, which may be deemed beneficially owned by Ernesto Bertarelli, who disclaims beneficial ownership except for his pecuniary interest.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider KC Armada LP

Role null

Type	Security	Shares	Price	Value
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 37,616,998 shares (Indirect, By K.C. Armada, LP)

Footnotes (1)

1. Represents securities held by K.C. Armada, LP, which may be deemed to be beneficially owned by Ernesto Bertarelli. Mr. Bertarelli disclaims beneficial ownership of such securities, except to the extent of his pecuniary interest therein. Represents securities held by Kedge Capital Principal Opportunities V, LP, which may be deemed to be beneficially owned by Mr. Bertarelli. Mr. Bertarelli disclaims beneficial ownership of such securities, except to the extent of his pecuniary interest therein.

Key Figures

Indirect shares held by Kedge Capital Principal Opportunities V, LP: 7,224,073 shares Indirect shares held by K.C. Armada, LP: 37,616,998 shares Holding entries reported: 2 entries +1 more

4 metrics

Indirect shares held by Kedge Capital Principal Opportunities V, LP 7,224,073 shares Class A Common Stock, total shares following transaction

Indirect shares held by K.C. Armada, LP 37,616,998 shares Class A Common Stock, total shares following transaction

Holding entries reported 2 entries Form 3 ownership table

Net buy/sell shares 0 shares No reported purchases or sales in this Form 3

Key Terms

ten percent owner, beneficial ownership, pecuniary interest, indirect, +1 more

5 terms

ten percent owner financial

"KC Armada LP is marked as a ten percent owner of the issuer"

beneficial ownership financial

"which may be deemed to be beneficially owned by Ernesto Bertarelli"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"disclaims beneficial ownership of such securities, except to the extent of his pecuniary interest therein"

indirect financial

"ownership_type is indirect with nature_of_ownership by limited partnerships"

Class A Common Stock financial

"security_title is listed as Class A Common Stock"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

Understanding Insider Trading Forms →

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
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1. Name and Address of Reporting Person^*

KC Armada LP

(Last) (First) (Middle)

GASPE HOUSE, 2ND FLOOR, 66-72 ESPLANADE

(Street)

ST HELIER JERSEY JE1 1GH

(City) (State) (Zip)

JERSEY

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
04/16/2026

3. Issuer Name and Ticker or Trading Symbol
Madison Air Solutions Corp [ MAIR ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Common Stock	37,616,998	I	By K.C. Armada, LP(1)
Class A Common Stock	7,224,073	I	By Kedge Capital Principal Opportunities V, LP(2)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents securities held by K.C. Armada, LP, which may be deemed to be beneficially owned by Ernesto Bertarelli. Mr. Bertarelli disclaims beneficial ownership of such securities, except to the extent of his pecuniary interest therein.

2. Represents securities held by Kedge Capital Principal Opportunities V, LP, which may be deemed to be beneficially owned by Mr. Bertarelli. Mr. Bertarelli disclaims beneficial ownership of such securities, except to the extent of his pecuniary interest therein.

	K.C. Armada, LP, acting by its general partner, Kedge Capital PE FoF GP Limited, By /s/ Andrew Le Gal, Director	04/29/2026
	K.C. Armada, LP, acting by its general partner, Kedge Capital PE FoF GP Limited, By /s/ Sally Hardman, Director	04/29/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)

FAQ

What does Madison Air Solutions (MAIR) Form 3 for KC Armada LP show?

The Form 3 shows KC Armada LP as a ten percent owner of Madison Air Solutions Class A Common Stock through indirect holdings in two limited partnerships, establishing its initial ownership position as a significant shareholder in the company.

How many Madison Air Solutions (MAIR) shares are held by K.C. Armada, LP?

K.C. Armada, LP holds 37,616,998 shares of Madison Air Solutions Class A Common Stock indirectly, according to the Form 3. These shares may be deemed beneficially owned by Ernesto Bertarelli, subject to his pecuniary interest disclaimer.

How many Madison Air Solutions (MAIR) shares are held by Kedge Capital Principal Opportunities V, LP?

Kedge Capital Principal Opportunities V, LP holds 7,224,073 shares of Madison Air Solutions Class A Common Stock indirectly. These securities may be deemed beneficially owned by Ernesto Bertarelli, who disclaims beneficial ownership beyond his pecuniary interest.

Is Ernesto Bertarelli the direct owner of Madison Air Solutions (MAIR) shares in this Form 3?

The shares are held by K.C. Armada, LP and Kedge Capital Principal Opportunities V, LP. They may be deemed beneficially owned by Ernesto Bertarelli, but he disclaims beneficial ownership except to the extent of his pecuniary interest in these entities.

Does the Madison Air Solutions (MAIR) Form 3 report any recent insider buying or selling?

No insider buying or selling is reported. The Form 3 lists holding entries only, with unknown transaction codes and no share amounts for transactions, indicating this filing serves as an initial ownership statement rather than a record of trades.