AIRT News & Events

Crestone Air Partners has entered into a definitive agreement to acquire Arena Aviation Capital. The transaction is subject to closing conditions and approvals. The acquisition materially expands Crestone's aviation lifecycle platform, enhancing its size and breadth of capabilities. Upon closing, the combined platform is expected to comprise approximately 124 aircraft and 17 engines on lease to customers globally, with over $4B of assets under management and more than 55 employees across 5 countries, strengthening Crestone's position as a leading full-service aviation asset manager headquartered in Denver with a broad operating footprint. Arena brings a seasoned team, a complementary portfolio, and deep expertise that aligns closely with Crestone's lifecycle-oriented investment approach. The combined organization will maintain offices in Denver, Amsterdam, and Dublin, with satellite presences in Singapore and Buenos Aires, supporting airline relationships globally. A portion of Arena Aviation Capital's management team will play key roles within the combined organization. Crestone anticipates a seamless integration focused on continuity for airline customers, capital partners, and employees. The combined group will leverage synergies across asset management, technical services, lease administration, and market intelligence, enabling more efficient operations and enhanced support for aircraft owners throughout the asset lifecycle.

Reports Q3 revenue $64.2M, down 21% y/y. Company Chairman and CEO Nick Swenson commented: "During the quarter, Contrail has reached the significant milestone of eliminating all of its bank debt and holding $6.7 million of cash and cash equivalents at September 30th. Joe and Miriam have done an outstanding job of deleveraging Contrail from the peak of $74.9 million of bank debt during COVID. We are grateful for their outstanding leadership of the Contrail business over many years. In addition, we believe Contrail is well positioned if the secondary market for end of life and low green time engines starts to soften. Earlier this year, the Air T HoldCo team started to engage with various parties about Rex Regional Airlines - the largest regional airline in Australia - which has been in voluntary administration since 2024. If courts approve the transaction, then we expect to close on the acquisition of Rex Regional sometime in December. This closing will mark the end of the beginning on a long journey that we are calling 'the return to classic Rex.' Expect to hear more from us as the process unfolds."

Reports Q1 revenue $70.9M vs. $66.4M last year. "Management is pleased with the company's performance in the June Quarter. We are working hard to execute on our annual plan and developing several strategic initiatives which we believe will drive long term value creation."