Company: AIRTP
Filing Date: 2025-07-18
Form Type: 8-K
Source: 0000353184-25-000060
Chunk: 0

Company: AIR T INC
Filing Date: 2025-07-18
Form: 8-K
Item: Item 1.01
Chunk 0
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Item 1.01 Entry into a Material Definitive Agreement

On July 15, 2025, CASP Leasing I, LLC (“ CASP”), a 95% owned subsidiary of Contrail Aviation Support, LLC (“ Contrail”), completed the sale of two Airbus aircraft with engines. The total transaction value for the aircraft and engine sales exceeded $18,000,000. The sale and purchase agreements related to the transactions were filed as exhibits to that certain Air T, Inc. Current Report on Form 8-K filed June 25, 2025 and the purchaser of the aircrafts and engines is FTAI Aircraft Leasing Ireland (2025) DAC. In connection with each sale, an assignment, assumption and amendment agreement was entered into with respect to the underlying lease, which among other thing, assigns the rights and obligations of the lessor under the lease to the new lessor.

The foregoing summary of the above transactions does not purport to be complete. The terms of the sale transactions and documents are qualified in their entirety by reference to the documents which are filed with Air T, Inc.’s Current Report on Form 8-K filed on June 25, 2025, which are incorporated herein by reference. The above discussion is also qualified in its entirety by reference to the Bill of Sale, Acceptance and Assignment, Assumption and Amendment Agreements filed* as Exhibits 10.1, 10.2, 10.3, 10.4, 10.5 and 10.6 to this report, which are incorporated herein by reference as if fully set forth herein.

*Portions of the transaction documents have been omitted for confidential treatment.

Item 2.01 Completion of Acquisition or Disposition of Assets