MAIDEN, N.C., May 20, 2014 /PRNewswire/ -- Air T, Inc. (Nasdaq Capital Market: AIRT) announced today that its wholly owned subsidiary, Global Ground Support, LLC, has been awarded a new contract to be the sole supplier of deicing trucks to the United States Air Force. The contract award is for two years commencing July 14, 2014 with four additional one-year extension options that may be exercised by the United States Air Force at a total contract value up to $38 million. The award includes standard deicer trucks and extended-reach deicer trucks along with shipping and training costs. The actual value of the contract as well as units delivered will be determined based upon actual annual requirements of the United States Air Force. The contract will follow Global's current contract with the United States Air Force which will expire July 13, 2014. Global has provided 485 deicers under United States Air Force contracts over the past fifteen years.
Michael Moore, Global's CEO, stated that, "We are proud that Global Ground Support has once again been selected by the United States Air Force to be their supplier of aircraft deicing trucks. Winning this contract is a testament to the quality of product and the after the sale service that Global Ground Support provides to all of its customers. The fact that this was won in open competition and that it allows us to continue to supply this essential piece of operational readiness equipment to our military is particularly gratifying. The awarding of this contract furthers the opportunity for continued strong performance at our Global Ground Support unit in coming years."
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 (MAC) 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.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts