Air T, Inc. Announces Acquisition of Contrail Aviation Support, Inc.

Maiden, NC – July 25, 2016 – Air T, Inc. (NASDAQ Capital Market: AIRT), a diversified holding company, today announced the acquisition of Contrail Aviation Support, Inc., a growing worldwide supplier of surplus and aftermarket commercial jet engine components based in Verona, WI. On July 18, 2016, pursuant to an Asset Purchase Agreement between Contrail Aviation Support, LLC (”New Contrail”), a North Carolina limited liability company and a subsidiary of Air T, Inc., and Contrail Aviation Support, Inc. (“Contrail”) and Joseph Kuhn, the sole shareholder of Contrail, the Acquisition Subsidiary completed the purchase of all of the assets owned, used or usable by Contrail.

In connection with the acquisition, Joseph Kuhn, President of Contrail, was appointed as the Chief Executive Officer of New Contrail, and New Contrail extended employment to all other employees of Contrail. New Contrail will continue to operate the business at the same location in Verona, and customers and vendors should expect a seamless transition of the business to New Contrail.

Nick Swenson, Chairman and CEO of Air T, Inc., said: “We are very excited about this acquisition. It provides Air T with a new and dynamic growth platform within a segment of the aerospace industry that we believe is ripe with opportunity. Joe Kuhn is a skilled executive and talented leader. We welcome him and the Contrail team to the Air T family and look forward to partnering with them in strategically growing this business for the benefit of our collective stakeholders.”

Joseph Kuhn, CEO of Contrail Aviation Support, LLC, said: “My team and I are thrilled to be part of the Air T family. We share the same vision for Contrail Aviation Support and its potential. Air T’s leadership style, corporate resources, and access to capital will help us better serve our customers, expand our capabilities, and be more competitive in a changing industry landscape. We’re looking forward to a bright future ahead.”

For a more detailed description of the Securities Purchase Agreement referred to above, please read the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 19, 2016.  Copies of the Form 8-K may be accessed on the Internet at the SEC’s website, http://www.sec.gov.

About Air T, Inc.

Established since 1980, Air T, Inc. (NASDAQ: AIRT) is a diversified holding company with four core industry segments: overnight air cargo, aviation ground support equipment manufacturing, aviation ground support maintenance services, and aircraft engine aftermarket and surplus parts. Our ownership interests consist of a broad set of operating and financial assets that are designed to expand, strengthen and diversify Air T’s cash earnings power. Our goal is to build on Air T’s core businesses, to expand into adjacent industries, and when appropriate, to acquire companies that we believe fit into the Air T family. For more information, visit www.airt.net.

About Contrail Aviation Support, LLC.

Contrail was founded in 2000 with the goal of being a leading supplier of commercial jet engine aftermarket and surplus material, which power the worldwide narrow body commercial aircraft fleets. Since its inception, Contrail has grown by utilizing its expertise and knowledge of the surplus industry to ensure that the company’s inventory is always relevant for the ever changing market place.  Today, Contrail Aviation Support is a trusted worldwide supplier of surplus and aftermarket commercial jet engine components. For more information, visit www.contrail.com.

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Media Contact: Anthony Giombetti, GioPR, 818-821-7530; anthony@giombettipr.com

Air T, Inc. to Report Third Quarter Results on February 5

MAIDEN, N.C., Jan. 25, 2016 — Air T, Inc. (Air T) (NASDAQ: AIRT) announced that it will release its results for the third quarter ended December 31, 2015 on February 5, 2016.

Air T operates in several business segments.  Air T is one of the largest, small-aircraft air cargo operators in the United States.  Its Mountain Air Cargo and CSA Air subsidiaries currently operate a fleet of single and twin-engine turbo-prop aircraft daily in the eastern half of the United States, Puerto Rico and the Caribbean Islands.  Air T’s Global Ground Support subsidiary manufactures deicing and other specialized military and industrial equipment and is one of the largest providers of deicers in the world.  The Global Aviation Services subsidiary provides ground support equipment and facilities maintenance to domestic airline customers.  During the quarter ended December 31, 2015, Air T completed an investment in Delphax Technologies, Inc., which designs, manufactures and sells advanced digital print production systems, and organized Air T Global Leasing, LLC, a subsidiary which provides funding for equipment leasing transactions, including transactions for the leasing of equipment manufactured by Global Ground Support and transactions initiated by third parties unrelated to equipment manufactured by Air T or any of its subsidiaries.

SOURCE: Air T, Inc.

Air T, Inc. Completes Investment In Delphax Technologies

MAIDEN, N.C., Dec. 3, 2015 — Air T, Inc. (NASDAQ: AIRT) today announced that it has completed its investment in Delphax Technologies, Inc. (www.delphax.com) and its subsidiary, Delphax Technologies Canada Limited, pursuant to the previously announced Securities Purchase Agreement dated as of October 2, 2015.

Nick Swenson, Air T’s Chief Executive Officer, commented, “Delphax has developed a disruptive inkjet production printing platform, investing over $17 million into the elan™ 500 over the past 5 years. Three elan 500 units have been installed at customer sites, and they are performing in line with expectations. Air T’s debt and equity investment will allow Delphax to build inventories and initiate an effective sales and marketing strategy to accelerate the rollout of the elan 500. In addition, Air T is working with Delphax to develop a competitive leasing program.”

Elan 500 Angle 1140x470 Medium

“Air T has a growth mindset and long-term perspective. We seek to partner with seasoned managers who run high quality businesses. We believe our investment in Delphax comes at the right time and will allow Delphax to effectively market its elan 500 product,” Mr. Swenson continued.

For a more detailed description of the Securities Purchase Agreement referred to above, please read the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on October 5, 2015.  Copies of the Form 8-K may be accessed on the Internet at the SEC’s website, http://www.sec.gov.

Air T, through its subsidiaries, provides overnight air freight service to the express delivery industry, manufactures and sells aircraft deicers and other special purpose industrial equipment, and provides ground support equipment and facilities maintenance to airlines. Air T is one of the largest, small-aircraft air cargo operators in the United States. Air T’s Mountain Air Cargo and CSA Air subsidiaries currently operate a fleet of single and twin-engine turbo-prop aircraft nightly in the eastern half of the United StatesPuerto Rico and the Caribbean Islands. Air T’s Global Ground Support subsidiary manufactures deicing and other specialized military and industrial equipment and is one of the largest providers of deicers in the world. The Global Aviation Services subsidiary provides ground support equipment and facilities maintenance to domestic airline customers.

SOURCE: Air T, Inc.

Air T, Inc. Subsidiary Extends Kinston Maintenance Facility Lease

MAIDEN, N.C., Nov. 24, 2015 — Air T, Inc. (NASDAQ: AIRT) today announced that its Mountain Air Cargo subsidiary has entered into an agreement to extend the lease of its 60,000 square foot maintenance facility at the North Carolina Global TransPark in Kinston, North Carolina.  The extension initially runs to 2023, though Mountain Air Cargo has the option to extend the lease for up to four additional five-year periods.  The renewal takes effect in 2018, at which time the rental rate will increase by 4% and remain at that level to 2023.  Thereafter, the rental rate increases by 10% at the beginning of each five-year renewal term and remains at that level for that five-year term.  Mountain Air Cargo, an original tenant at the Global TransPark in Kinston, has operated its primary maintenance facility at that location since 1995.

Nick Swenson, Air T’s Chairman and Chief Executive Officer, commented, “With this agreement, Mountain Air Cargo has the ability to extend its lease on this important and long-standing facility to 2043. This agreement provides us with a long-term aircraft maintenance base and the operational flexibility that allows us to continue to provide outstanding maintenance services to our air cargo customer. It also evidences our commitment to our highly skilled and dedicated employees in Kinston. We are proud to be able to continue our association with the Global TransPark, a unique aerospace and logistics business park developed by the State of North Carolina.”

Air T, through its subsidiaries, provides overnight air freight service to the express delivery industry, manufactures and sells aircraft deicers and other special purpose industrial equipment, and provides ground support equipment and facilities maintenance to airlines. Air T is one of the largest, small-aircraft air cargo operators in the United States. Air T’s Mountain Air Cargo and CSA Air subsidiaries currently operate a fleet of single and twin-engine turbo-prop aircraft nightly in the eastern half of the United States, Puerto Rico and the Caribbean Islands. Air T’s Global Ground Support subsidiary manufactures deicing and other specialized military and industrial equipment and is one of the largest providers of deicers in the world. The Global Aviation Services subsidiary provides ground support equipment and facilities maintenance to domestic airline customers.

SOURCE: Air T, Inc.

Air T, Inc. To Report Second Quarter Results On November 6

MAIDEN, N.C., Oct. 30, 2015 — Air T, Inc. (Air T) (NASDAQ: AIRT) announced that it will release its results for the second quarter ended September 30, 2015 on November 6, 2015 at 8:00 A.M.

Air T, through its subsidiaries, provides overnight air freight service to the express delivery industry, manufactures and sells aircraft deicers and other special purpose industrial equipment, and provides ground support equipment and facilities maintenance to airlines.  Air T is one of the largest, small-aircraft air cargo operators in the United States.  Air T’s Mountain Air Cargo and CSA Air subsidiaries currently operate a fleet of single and twin-engine turbo-prop aircraft daily in the eastern half of the United States, Puerto Rico and the Caribbean Islands.  Air T’s Global Ground Support subsidiary manufactures deicing and other specialized military and industrial equipment and is one of the largest providers of deicers in the world.  The Global Aviation Services subsidiary provides ground support equipment and facilities maintenance to domestic airline customers.

SOURCE: Air T, Inc.

Global Ground Support Awarded New Contract from American Airlines

MAIDEN, N.C., June 30, 2015 — Air T, Inc. (NASDAQ: AIRT) today announced that its subsidiary Global Ground Support, LLC (Global), received a contract award in excess of $32 million for the supply of Global’s Ultimate 2200 aircraft deicing vehicles to American Airlines. The deicers will be equipped with Global’s MIDAS™ vehicle telemetry systems that will provide American Airlines with the latest in glycol fluid reduction technology.

Announcing the order, Global’s President / CEO Michael Moore said: “Global is recognized as one of the world’s leading manufacturers of aircraft deicers.  We are delighted that American Airlines chose Global, and will realize the glycol savings and reduced environmental impact that this new technology will provide for their hub operation at Dallas, Fort Worth (DFW).  Global has spent several years developing our exclusive MIDAS™ telemetry system and we are very proud that American is the latest of four large North American airlines to add this technology to their fleet.”

Deliveries are expected to be completed in November 2015.

Air T, through its subsidiaries, provides overnight air freight service to the express delivery industry, manufactures and sells aircraft deicers and other special purpose industrial equipment, and provides ground support equipment and facilities maintenance to airlines. Air T is one of the largest, small-aircraft air cargo operators in the United States. Air T’s Mountain Air Cargo and CSA Air subsidiaries currently operate a fleet of single and twin-engine turbo-prop aircraft nightly in the eastern half of the United States, Puerto Rico and the Caribbean Islands. Air T’s Global Ground Support subsidiary manufactures deicing and other specialized military and industrial equipment and is one of the largest providers of deicers in the world. The Global Aviation Services subsidiary provides ground support equipment and facilities maintenance to domestic airline customers.

Statements in this press release, which contain more than historical information, may be considered forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995), which are subject to risks and uncertainties.  Actual results may differ materially from those expressed in the forward-looking statements because of important potential risks and uncertainties, including but not limited to the risk that contracts with major customers will be terminated or not extended, future economic conditions and their impact on the Company’s customers, customer requirements for ground support equipment and facilities maintenance services will be less than anticipated, the timing of orders and deliveries under our contracts, including contracts with the United States Air Force, inflation rates, the impact of competition, changes in technology or government regulation, and the impact of terrorist activities in the United States and abroad.  A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances, and those future events or circumstances may not occur.  The Company is under no obligation, and it expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE: Air T, Inc.

Air T, Inc. to Report Annual Results on June 8

MAIDEN, N.C., June 1, 2015 — Air T, Inc. (NASDAQ: AIRT) today announced that it intends to release its results for the fiscal year ended March 31, 2015 on Monday, June 8, 2015.

Air T, through its subsidiaries, provides overnight air freight service to the express delivery industry, manufactures and sells aircraft deicers and other special purpose industrial equipment, and provides ground support equipment and facilities maintenance to airlines.  Air T is one of the largest, small-aircraft air cargo operators in the United States.  Air T’s Mountain Air Cargo and CSA Air subsidiaries currently operate a fleet of single and twin-engine turbo-prop aircraft daily in the eastern half of the United States, Puerto Rico and the Caribbean Islands.  Air T’s Global Ground Support subsidiary manufactures deicing and other specialized military and industrial equipment and is one of the largest providers of deicers in the world.  The Global Aviation Services subsidiary provides ground support equipment and facilities maintenance to domestic airline customers.

SOURCE: Air T, Inc.