Key Developments For Air T, Inc.
Air T, Inc. (AIRT.O) (Consolidated Issue listed on NASDAQ Capital Market)
Air T, Inc.'s Global Ground Support LLC Announces New Partner And Products
Global Ground Support LLC (GGS), a subsidiary of Air T, Inc. announced that it has signed agreements with a company based in Millesimo, Italy, Fresia S.p.A., to manufacture and distribute Fresia snow removal equipment in the United States. GGS also recently displayed two new product lines at the Inter-Airport Europe airport equipment show in Munich. The Global ORION is an 880 gallon deicer which will provide an economical deicing solution for regional airlines and airports around the world. The Orion is a self-propelled aircraft deicer that uses four wheel drive and steer capabilities to move nimbly and efficiently while deicing aircraft. The second product, the Global Glycol Recovery Vehicle, is chassis mounted and designed to recover deicing fluids on airport ramps and gates.
Air T, Inc. Announces Award of New Contract from United States Air Force
Air T, Inc. announced that its wholly owned subsidiary, Global Ground Support, LLC, has been awarded a new contract to supply deicing trucks to the United States Air Force. The contract award was for one year commencing July 14, 2009 with four additional one-year extension options that may be exercised by the United States Air Force. The award includes standard deicer trucks and extended-reach deicer trucks along with shipping and training costs.
Air T, Inc. Announces Annual Cash Dividend
Air T, Inc. announced Board of Director approval for payment of a $0.33 per share fiscal 2009 annual cash dividend, to be paid on June 26, 2009 to shareholders of record June 5, 2009.
Air T, Inc. Announces Receipt of $11.5 Million Order from United States Air Force
Air T, Inc. announced that its wholly owned subsidiary, Global Ground Support, LLC, has received an order for 29 mobile deicing trucks, including three extended reach deicers, to be supplied to the United States Air Force for a total of approximately $11.5 million. The order is pursuant to Global's existing multi-year contract with the Air Force and includes the actual units, shipping costs and training courses associated with the units. Global's contract with the Air Force expires in June 2009 and Global is currently in the process responding to the new request for proposal. Air T, through its subsidiaries, provides overnight air freight service to the express delivery industry, and manufactures, sells and services aircraft ground support and special purpose industrial equipment.
Air T, Inc. To Get $550,000 Settlement
Air T, Inc. reported that it will receive $550,000 over two and a half years, in a legal settlement relating to inspection and repair costs it incurred following an incident in February 2005 involving deicing equipment it sold to the Philadelphia International Airport. Air T, Inc. through its wholly owned subsidiary Global Ground Support, LLC (GGS), negotiated the settlement with Elliot Equipment Company, the actual designer and fabricator of the equipment involved in the incident.
