Air T, Inc. Announces Record and Payment Dates for Alpha Income Preferred Securities (AIRTP)

Rhea-AI Summary

Air T, Inc. (NASDAQ:AIRT) announced the record and payment dates for its Alpha Income Preferred (AIP) securities (NASDAQ:AIRTP) for the years 2022 and 2023. AIP holders will receive cash distributions of $0.50 per share, equivalent to an 8.0% annual rate based on par value. Key payment dates include February 15, May 16, August 15, and November 15 for 2022, and similar dates in 2023. Established in 1980, Air T focuses on air cargo, aviation support equipment manufacturing, and aircraft asset management, aiming to enhance cash flow and stakeholder value.

Positive

• Scheduled cash distributions of $0.50 per share for AIP securities, indicating consistent income for investors.
• Annual distribution rate set at 8.0% of par value, providing attractive returns.

Negative

• None.

DENVER, NC / ACCESSWIRE / February 10, 2022 / Air T, Inc. (NASDAQ:AIRT) ("Air T") announces the following record dates and payments dates for its Alpha Income Preferred (AIP) securities (NASDAQ:AIRTP) during 2022 and 2023. Cash distributions on the AIP are in the amount of $0.50 per share (a rate of 8.0% of par value per annum).

Payment Date:	Record Date:
February 15, 2022	February 14, 2022
May 16, 2022	May 13, 2022
August 15, 2022	August 12, 2022
November 15, 2022	November 14, 2022
February 15, 2023	February 14, 2023
May 15, 2023	May 12, 2023
August 15, 2023	August 14, 2023
November 15, 2023	November 14, 2023

ABOUT AIR T, INC.

Established in 1980, Air T Inc. is a portfolio of powerful businesses and financial assets, each of which is independent yet interrelated. Its core segments are overnight air cargo, aviation ground support equipment manufacturing, and commercial aircraft asset management and logistics. We seek to expand, strengthen and diversify Air T's after-tax cash flow per share. Our goal is to build Air T's core businesses, and when appropriate, to expand into adjacent and other industries. We seek to activate growth and overcome challenges while delivering meaningful value for all stakeholders. For more information, visit www.airt.net

FORWARD-LOOKING STATEMENTS

Certain matters discussed in this press release may be considered forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). These forward-looking statements are subject to risks, uncertainties and assumptions about our operations and the investments we make, including, among other things, factors discussed under the heading "Risk Factors" in our Form 10-K, as well as the following:

• Economic conditions in the Company's markets, particularly the aviation industry;
• The risk that contracts with FedEx could be terminated or adversely modified;
• The risk that the number of aircraft operated for FedEx could be reduced;
• The risks faced by commercial aircraft operators and maintenance, repair and overhaul companies because they are our customers.
• Our engine values and lease rates, which are dependent on the status of the types of aircraft on which engines are installed, and other factors.
• The Company and its customers operate in a highly regulated industry and changes in economic conditions, laws or regulations may adversely affect our ability to lease or sell our engines or aircraft.
• We may experience losses and delays in connection with repossession of engines or aircraft when a lessee defaults.
• The risk that GGS customers will defer or reduce significant orders for deicing and other equipment;
• Mild winter weather conditions reducing the demand for deicing equipment.
• The impact of any terrorist activities on United States soil or abroad;
• The risk of injury or other damage arising from accidents involving the Company's overnight air cargo operations, equipment or parts sold and/or services provided;
• The Company's ability to manage its cost structure for operating expenses, or unanticipated capital requirements, and match them to shifting customer service requirements and production volume levels;
• The Company's ability to meet debt service covenants and to refinance existing debt obligations;
• The ability of the Company and its business segments to generate sufficient cash flows from operations or through financings.
• Market acceptance of the Company's commercial and military equipment and services;
• Competition from other providers of similar equipment and services;
• Changes in government regulation and technology;
• Changes in the value of marketable securities held as investments;
• Market acceptance and operational success of the Company's new aircraft asset management business and related new aircraft capital joint venture;
• The risks and uncertainties related to business acquisitions (including the ability to successfully achieve anticipated benefits) inflation rates, competition, changes in technology or government regulation, debt covenants, information technology disruptions, and the impact of future terrorist activities in the United States and abroad;
• Wage and product pricing inflation and our ability to procure products and fulfill orders, could negatively impact the Company's operations and financial results in a material manner; and
• The length and severity of the COVID-19 pandemic.

Forward-looking statements can be identified by the use of words like "believes," "could," "possibly," "probably," "anticipates," "estimates," "projects," "expects," "may," "will," "should," "seek," "intend," "plan," "expect," or "consider" or the negative of these expressions or other variations, or by discussions of strategy that involves risks and uncertainties. All forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual transactions, results, performance or achievements to be materially different from any future transactions, results, performance or achievements expressed or implied by such forward-looking statements. We base these forward-looking statements on current expectations and projections about future events and the information currently available to us. Although we believe that the assumptions for these forward-looking statements are reasonable, any of the assumptions could prove to be inaccurate. Consequently, no representation or warranty can be given that the estimates, opinions, or assumptions made in or referenced in this press release will prove to be accurate. We undertake no obligation to update our forward-looking statements. We caution you that the forward-looking statements in this press release are only estimates and predictions, or statements of current intent. Actual results or outcomes, or actions that we ultimately undertake, could differ materially from those anticipated in the forward-looking statements due to risks, uncertainties or actual events differing from the assumptions underlying these statements. These risks, uncertainties and assumptions include, but are not limited to, those discussed in this press release.

CONTACT

Air T, Inc.
Brian Ochocki, CFO
bochocki@airt.net
612-843-4302

SOURCE: Air T, Inc.

View source version on accesswire.com:
https://www.accesswire.com/688307/Air-T-Inc-Announces-Record-and-Payment-Dates-for-Alpha-Income-Preferred-Securities-AIRTP

FAQ

What are the payment dates for Air T's Alpha Income Preferred securities (AIRTP) in 2023?

The payment dates for 2023 are February 15, May 15, August 15, and November 15.

How much will investors receive per share for Alpha Income Preferred securities (AIRTP)?

Investors will receive $0.50 per share for the Alpha Income Preferred securities.

What is the distribution rate for Air T's Alpha Income Preferred (AIRTP)?

The distribution rate for the Alpha Income Preferred is 8.0% of par value per annum.

When is the record date for the Alpha Income Preferred payment in February 2023?

The record date for the February 2023 payment is February 14, 2023.