Air Industries Group Wins Long-Term Agreement for Flight Critical Components for Blackhawk Helicopters with Estimated Value of $2.4 Million

Rhea-AI Summary

Air Industries Group (NYSE American: AIRI) has secured a Long-Term Agreement (LTA) valued at $2.4 million to manufacture flight-critical products for the Blackhawk helicopter. This agreement adds to two previously announced LTAs for Blackhawk products, bringing the total estimated value of contracted work to over $20 million. CEO Lou Melluzzo highlighted the company's two-decade commitment to ensuring flight safety for the Blackhawk helicopter, underscoring the strategic importance of these contracts.

Positive

• Secured a Long-Term Agreement (LTA) worth $2.4 million for Blackhawk helicopter products.
• Total value of LTAs for Blackhawk products exceeds $20 million.

Negative

• None.

BAY SHORE, N.Y.--(BUSINESS WIRE)-- Air Industries Group (NYSE American: AIRI), an integrated Tier 1 manufacturer of precision assemblies and components for mission-critical aerospace and defense applications, and a prime contractor to the U.S. Department of Defense, today announced that its Long Island-based subsidiary, Air Industries Machining Corp., has been awarded a Long-Term Agreement (LTA) to manufacture flight-critical products for the Blackhawk helicopter. The estimated value of the LTA is $2.4 million.

Mr. Lou Melluzzo, CEO of Air Industries, commented: “For over 20 years, Air Industries has manufactured products whose flawless operation is critical for flight safety of the Blackhawk helicopter. On January 19^th we announced two new LTAs for Blackhawk products with an estimated value of $18.2 million. This is the third long-term agreement bringing the estimated combined value to more than $20 million.”

ABOUT AIR INDUSTRIES GROUP

Air Industries Group (NYSE American: AIRI) is an integrated manufacturer of precision assemblies and components for leading aerospace and defense prime contractors and original equipment manufacturers. The Company is a Tier 1 supplier to aircraft Original Equipment Manufacturers, and a Prime Contractor to the U.S. Department of Defense, and is highly regarded for its expertise in designing and manufacturing parts and assemblies that are vital for flight safety and performance.

Additional information about the Company can be found in its filings with the SEC.

Forward Looking Statements

Certain matters discussed in this press release are 'forward-looking statements' intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company's statements regarding trends in the marketplace, future revenues, earnings and Adjusted EBITDA, the ability to realize firm backlog and projected backlog, cost cutting measures, potential future results and acquisitions, are examples of such forward-looking statements. The forward-looking statements are subject to numerous risks and uncertainties, including, but not limited to, the timing of projects due to variability in size, scope and duration, the inherent discrepancy in actual results from estimates, projections and forecasts made by management, regulatory delays, changes in government funding and budgets, and other factors, including general economic conditions, not within the Company's control. The factors discussed herein and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

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Air Industries Group

Investor Relations

Michael Recca - CFO

631.328.7079

ir@airindustriesgroup.com

Source: Air Industries Group

FAQ

What is the recent contract Air Industries Group secured for the Blackhawk helicopter?

Air Industries Group has been awarded a Long-Term Agreement valued at $2.4 million to manufacture flight-critical products for the Blackhawk helicopter.

How much is the total value of Long-Term Agreements for Air Industries Group related to the Blackhawk?

The total estimated value of Long-Term Agreements for Blackhawk products has surpassed $20 million.

Who is the CEO of Air Industries Group?

The CEO of Air Industries Group is Lou Melluzzo.

What is the stock symbol for Air Industries Group?

The stock symbol for Air Industries Group is AIRI.