Altair International Corp. Merger Partner Premier Air Charter, Inc. Announces Revenue Increase of 12% in Charter Services for Six Months of 2024

Rhea-AI Summary

Altair International Corp (OTCQB:ATAO) announced that its merger partner, Premier Air Charter, Inc., reported a 12% increase in unaudited revenue for the first six months of 2024. Premier's revenues reached $9,944,306, attributed to increased chartered hours from new aircraft acquisitions. The merger, announced on February 16, 2024, is expected to be completed by August 31, 2024. Premier's CEO, Ross Gourdie, expressed excitement about the merger, stating that access to public markets will accelerate their expansion plans. Following the merger, Premier's officers and directors will assume leadership roles at Altair.

Positive

• 12% increase in revenue for Premier Air Charter in the first half of 2024
• Revenue growth attributed to increased chartered hours from new aircraft acquisitions
• Merger with Altair International Corp expected to provide access to public markets
• Anticipated acceleration of expansion plans post-merger

Negative

• None.

PITTSBURGH, PA / ACCESSWIRE / July 18, 2024 / Altair International Corp (OTCQB:ATAO) today announced that its merger partner Premier Air Charter, Inc. ("Premier") reported a strong increase in unaudited revenue growth for the first six months of 2024 ending June 31.

Revenues for the period were $ 9,944,306, a 12% increase over the comparable period in 2023. The increase in revenues were due to an increase in chartered hours as a result of Premier's acquisitions of new aircraft. CEO Ross Gourdie stated, "We are extremely excited for what the future will bring to Premier when the merger with Altair is completed. Access to the public markets will only expedite our already expanding organic growth. This will allow us to jumpstart our future plans at a much earlier stage than anticipated."

On February 16, 2024, Altair International Corp ("Altair") entered into an Agreement and Plan of Merger (the "Merger Agreement") among Premier Air Charter, Inc. ("Premier"), Premier Air Charter Merger Sub, Inc. ("Merger Sub"), and TIPP Aviation, LLC, the sole shareholder of Premier. It is anticipated that the merger will be completed by August 31, 2024. The officers and directors of Premier will become the officers and directors of Altair following the Merger.

About Altair: Altair International Corp (OTCQB:ATAO) is a diversified holding company.

About Premier: Premier Air Charter's dedication to excellence extends beyond its aircraft, encompassing personalized service, attention to detail, and uncompromising safety standards. As travelers embark on their Hawaiian adventures, they can trust Premier Air Charter to deliver a seamless and unforgettable journey from start to finish. For more information about Premier Air Charter and its private air charter services to the Hawaiian Islands, visit www.premieraircharter.com.

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission.

FOR FURTHER INFORMATION, please visit the company's website at: https://premieraircharter.com, or contact info@altairinternationalcorp.com, office@premieraircharter.com.

SOURCE: Altair International Corp.

View the original press release on accesswire.com

FAQ

What was Premier Air Charter's revenue for the first six months of 2024?

Premier Air Charter reported unaudited revenue of $9,944,306 for the first six months of 2024, ending June 31.

When is the merger between Altair International Corp (ATAO) and Premier Air Charter expected to be completed?

The merger is anticipated to be completed by August 31, 2024.

What caused the revenue increase for Premier Air Charter in 2024?

The revenue increase was due to an increase in chartered hours as a result of Premier's acquisitions of new aircraft.

How will the merger with Altair International Corp (ATAO) benefit Premier Air Charter?

The merger will provide Premier Air Charter with access to public markets, which is expected to expedite their expanding organic growth and jumpstart future plans earlier than anticipated.