Air T Receives $11.5 Million Air Force Order
May 4, 2009 (FinancialWire) — Air T, Inc. (NASDAQ: AIRT) (Current Market Cap: US$18.33 Mil.) said its Global Ground Support, LLC, subsidiary has received an order worth $11.5 million for specialized deicing trucks from the U.S. Air Force.
The order, for 29 of the mobile deicing trucks, was made under 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 the company said it is currently in the process responding to the new request for proposal.
Maiden, North Carolina-based 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’s Mountain Air Cargo and CSA Air subsidiaries 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.
The company’s ground support operations, including its Global Ground Support and Global Aviations Services subsidiaries, manufacture and service aviation support and other specialized military and industrial equipment, in addition to providing airport facilities maintenance.
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