January 2017 – Stratus Aero Partners LLC, a newly formed subsidiary of Air T, has acquired 100% of the outstanding equity interests of Jet Yard, LLC (“Jet Yard”). Air T, Inc. (NASDAQ Capital Market: AIRT), a diversified holding company, today announced the acquisition of Jet Yard, LLC, via Stratus Aero Partners, LLC. Jet Yard is a growing FAA 145 Certified Repair Station located at Pinal Airpark (KMZJ), Marana, AZ. Jet Yard provides aircraft storage, storage maintenance, and end of life services to its growing list of customers. Jet Yard will continue to operate the business at the same location in Marana AZ, and customers and vendors should expect a seamless transition of the business.
Nick Swenson, Chairman and CEO of Air T, Inc., said: “We are very excited about this addition. It provides Air T with a new supplier within a segment of the aerospace industry that we believe is ready for expansion. We welcome the Jet Yard team to the Air T family and look forward to partnering with them and growing this business for the benefit of our collective stakeholders.”
About Air T, Inc.
Established since 1980, Air T, Inc. (NASDAQ: AIRT) is a diversified holding company with four core industry segments: overnight air cargo, aviation ground support equipment manufacturing, aviation ground support maintenance services, and aircraft engine aftermarket and surplus parts. Our ownership interests consist of a broad set of operating and financial assets that are designed to expand, strengthen, and diversify Air T’s cash earnings power. Our goal is to build on Air T’s core businesses, to expand into adjacent industries, and when appropriate, to acquire companies that we believe fit into the Air T family. For more information, visit www.airt.net.
About Jet Yard, LLC
Jet Yard, LLC was created in 2014 to provide customers a new alternative at Pinal Airpark (KMZJ), located in Marana, Arizona. Jet Yard is a FAA 145 Certified Repair Station #7QAR515C and we provide commercial aircraft storage and parking plus aircraft disassembly. The area’s dry desert climate mitigates corrosion of the aircraft, making Jet Yard the ideal partner for storage, disassembly, and part-out. Jet Yard offers complete aircraft end of life services encompassing aircraft storage, teardown, parts storage, repair management, global sales, logistics, and aircraft recycling with a strong focus on timely and accurate service. Jet Yard’s fifty-six-acre facility includes 17,000 square feet of warehouse space and 112,000 square foot concrete ramp. Additionally, the 6,849-foot runway at the airport can accommodate any size aircraft making this an ideal location for our customers to store their assets.
Our commitment is to provide world-class, customer-focused service and build long-term relationships with our customers. For more information, visit www.jetyard.com.