Company: AIRTP
Filing Date: 2025-06-25
Form Type: 8-K
Source: 0000353184-25-000038
Chunk: 0

Company: AIR T INC
Filing Date: 2025-06-25
Form: 8-K
Item: Item 1.01
Chunk 0
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Item 1.01 Entry into a Material Definitive Agreement

On June 19, 2025, CASP Leasing I, LLC (“ CASP”), a 95% owned subsidiary of Contrail Aviation Support, LLC (“ Contrail”), entered into two separate sale and purchase agreements, each agreement to sell an Airbus Model aircraft. The purchaser of the aircrafts is FTAI Aircraft Leasing Ireland (2025) DAC and the aircraft being sold are further described in the purchase agreements provided as Exhibit 10.1 and 10.2 to this report. The aggregate transaction value, assuming both transactions are completed, would exceed $25,000,000. Although closing of the transactions is currently anticipated to occur during the week of July 7, 2025, the Agreements are subject to numerous closing conditions and other terms and conditions customary for such transactions and there is no assurance that such transactions will close on the dates anticipated or at all.

The purchase agreements also contain representations and warranties made by the parties thereto made to and solely for the benefit of each other, and such representation and warranties should not be relied upon by any other person. The assertions embodied in those representations and warranties were made solely for the purposes of the agreements and are subject to important qualifications and limitations agreed to by and between the CASP and the other party thereto in connection with negotiating the agreements. Accordingly, security holders should not rely on the representations and warranties as accurate or complete or characterizations of the actual state of facts as of any specified date because such representations and warranties are modified in important part by the underlying disclosure schedules, are subject to a contractual standard of materiality different from that generally applicable to security holders and were used only for the purposes of conducting certain limited due diligence inquiries and allocating risks and not for establishing all material facts with respect to the matters addressed.

The foregoing does not purport to be a complete summary of the terms of the sale and purchase agreements and are qualified by reference to the full text of the agreements, which are provided as Exhibits 10.1 and 10.2 to this report and are incorporated herein by reference as if fully set forth herein.

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

Item 9.01 Financial Statements and Exhibits