Global Ground Support Awarded New Contract from American Airlines
Jun 30, 2015, 05:50 ET
MAIDEN, N.C., June 30, 2015 /PRNewswire/ -- Air T, Inc. (NASDAQ: AIRT) today announced that its subsidiary Global Ground Support, LLC (Global), received a contract award in excess of $32 million for the supply of Global's Ultimate 2200 aircraft deicing vehicles to American Airlines. The deicers will be equipped with Global's MIDAS™ vehicle telemetry systems that will provide American Airlines with the latest in glycol fluid reduction technology.
Announcing the order, Global's President / CEO Michael Moore said: "Global is recognized as one of the world's leading manufacturers of aircraft deicers. We are delighted that American Airlines chose Global, and will realize the glycol savings and reduced environmental impact that this new technology will provide for their hub operation at Dallas, Fort Worth (DFW). Global has spent several years developing our exclusive MIDAS™ telemetry system and we are very proud that American is the latest of four large North American airlines to add this technology to their fleet."
Deliveries are expected to be completed in November 2015.
Air T, through its subsidiaries, provides overnight air freight service to the express delivery industry, manufactures and sells aircraft deicers and other special purpose industrial equipment, and provides ground support equipment and facilities maintenance to airlines. Air T is one of the largest, small-aircraft air cargo operators in the United States. Air T's Mountain Air Cargo and CSA Air subsidiaries currently operate a fleet of single and twin-engine turbo-prop aircraft nightly in the eastern half of the United States, Puerto Rico and the Caribbean Islands. Air T's Global Ground Support subsidiary manufactures deicing and other specialized military and industrial equipment and is one of the largest providers of deicers in the world. The Global Aviation Services subsidiary provides ground support equipment and facilities maintenance to domestic airline customers.
Statements in this press release, which contain more than historical information, may be considered forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995), which are subject to risks and uncertainties. Actual results may differ materially from those expressed in the forward-looking statements because of important potential risks and uncertainties, including but not limited to the risk that contracts with major customers will be terminated or not extended, future economic conditions and their impact on the Company's customers, customer requirements for ground support equipment and facilities maintenance services will be less than anticipated, the timing of orders and deliveries under our contracts, including contracts with the United States Air Force, inflation rates, the impact of competition, changes in technology or government regulation, and the impact of terrorist activities in the United States and abroad. A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances, and those future events or circumstances may not occur. The Company is under no obligation, and it expressly disclaims any obligation, to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Air T, Inc.
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