NEWS

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Contrail Reports Strong FY’19

Contrail’s CEO Joe Kuhn, said: “Despite a competitive market environment in FY 2019, we were able to overcome these headwinds and successfully complete a record 26 profitable transactions [spanning acquisitions, leases, and sales of commercial aircraft and jet engine parts]. Going forward, we are well-positioned, well-capitalized, and have a strong pipeline of assets that will continue to feed our trading and parts business throughout the upcoming year.”  Total sales dollar volume not disclosed.

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Holding Company Air T, Inc. Announces Acquisition of Contrail Aviation, Inc.

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.

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