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4-Traders Homepage  >  Equities  >  Nasdaq  >  Air T, Inc.    AIRT

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Air T : Global Aviation Services Awarded GSE Maintenance Contract from Delta Air Lines

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12/15/2016 | 08:55pm CET

By a News Reporter-Staff News Editor at Journal of Transportation -- - Air T, Inc. (NASDAQ: AIRT) announced that its subsidiary, Global Aviation Services, LLC (Global), has been notified by Delta Air Lines (Delta) that Global had been awarded a five-year contract for 28 locations in connection with Delta's 2016 ground support equipment (GSE) maintenance RFP process. The total annualized revenue of the new award and services at other Delta locations not part of the 2016 RFP process is anticipated by Global to be approximately $8.1 million, compared with annualized revenue under existing arrangements with Delta of approximately $3.5 million. In the award, Global retained 21 of 22 incumbent locations included in the RFP process and added seven new locations, including the maintenance of the baggage handling system (BHS) and passenger boarding bridges (PBB) for Delta's hub operation at the Minneapolis-St. Paul (MSP) airport. Based on anticipated timing of the commencement of the terms of the new award, the award is expected to provide approximately $850,000 in net additional maintenance revenue for Global in the fiscal year ending March 31, 2017. Resulting from the award, Global will have over 90 technicians serving Delta in 44 locations.

"This award is recognition of our team's hard work. We've been serving Delta since our inception and are grateful that our relationship continues to grow," said Brad Osborn, Global's Chief Executive Officer.

Keywords for this news article include: Aviation, Business News.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2016, NewsRx LLC

(c) 2016 NewsRx LLC, source Business Newsletters

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Managers
NameTitle
Nicholas John Swenson Chairman, President & Chief Executive Officer
Candice L. Otey CFO, Secretary, Treasurer & Vice President-Finance
Seth G. Barkett Independent Director
Andrew Osborne Independent Director
William Ryan Foudray Independent Director
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