Milestone reflects Air T&#39;s permanent-capital, buy-to-build model and the momentum of its networked aviation portfolio MINNEAPOLIS, MN / ACCESS Newswire / June 16, 2026 / Air T, Inc. (NASDAQ:AIRT) today announced that its

<p><i><strong>Milestone reflects Air T's permanent-capital, buy-to-build model and the momentum of its networked aviation portfolio</strong></i></p> <p><strong id="dateline">MINNEAPOLIS, MN / <a href='https://www.accessnewswire.com/'>ACCESS Newswire</a> / June 16, 2026 / </strong>Air T, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AIRT">AIRT</a>) today announced that its majority owned business Crestone Air Partners, a global aviation asset management platform, has completed its acquisition of Arena Aviation Capital - a well-established aviation asset manager with a diversified portfolio and deep airline relationships. The transaction, first disclosed on March 8, 2026, has now closed following the satisfaction of all customary closing conditions and required approvals.</p><p>The acquisition materially expands Crestone. Assets under management (AUM) as of December 31, 2025, were $800 million; as of March 31, 2026, AUM had grown to $1.2 billion; and post-transaction, the combined platform now comprises $3.6 billion of AUM. Crestone receives standard aviation industry management fees, including origination fees, administrative fees, disposition fees, and an incentive fee above a certain hurdle rate (which varies by investment transaction). Our aviation asset management platforms seek to generate 10%+ returns after fees.</p><p>Immediately prior to the closing, Air T owned 90% of the common interests in Crestone Asset Management, LLC ("CAM"). At this same time, entities controlled by the Mill Road Investors collectively owned the remaining 10% of the common interests in CAM. In connection with the transactions, Air T and Aviation Growth Initiatives, LLC ("AGI"), a management-affiliated entity formed by executives of Crestone Air Partners, Inc., acquired the MRC Parties' 10% common interest position in CAM at a pre-money valuation of $62 million for aggregate cash consideration of $6.2 million. In connection with the reorganization, the parties also amended CAM's limited liability company agreement to reflect the exit of the MRC parties from the common interest holder group.</p><p>On the closing date, Blue Owl Capital bought in to Crestone Air Partners at an $80 million valuation post-merger for up to 12.5% of Crestone Air Partners, dependent upon Crestone performance. Air T now owns approximately 83.9% of the equity of this business.</p><p>This transaction is a clear expression of how Air T invests. We are a permanent capital vehicle - buying to build, not to trade - and we give the leaders of our businesses the runway and resources to grow on their own terms.</p><p>"We buy to build and empower dynamos and dynamic teams. Our investments don't come with expiration dates," said Nick Swenson, Chief Executive Officer of Air T, Inc. "Crestone has grown from zero to over $3.5 billion dollars in assets under management in five years. Our job was to provide permanent capital and the runway, then let Crestone build. Crestone's leasing capabilities are supported by the AirT network: airframe and engine material sales, landing gear leasing, disassembly, storage, and MRO facilities all sit inside the Air T family. Crestone can draw on every one of them across an aircraft's life. Aviation has a lot of niche, high-value businesses within it, and we seek to know them well. That's the momentum a networked portfolio creates - and we intend to keep at it."</p><p>For additional information on the transaction, please refer to the Crestone Air Partners Press Release.</p><p><strong>NOTE REGARDING STAKEHOLDER QUESTIONS</strong></p><p>If you have questions related to this release or other Air T matters, please use our interactive Q&A capability, through <a rel="nofollow" href="https://pr.report/mo1t">Slido.com</a><a rel="nofollow" href="https://pr.report/mo1u">,</a> accessible from our website, to submit your questions. We intend to keep that link open and available for shareholder questions. Questions submitted through Slido will be answered "live" and in writing at our Annual Meeting, and via a written response on a quarterly basis. Note that legal and pragmatic requirements restrict us from answering every question posted, yet we intend to address all reasonable and relevant questions with a written answer.</p><p><strong>ABOUT AIR T, INC.</strong></p><p>Established in 1980, Air T Inc. is a portfolio of powerful businesses and financial assets, each of which is independent yet interrelated. Its core segments are overnight air cargo, ground support equipment, commercial aircraft, engines and parts, regional airline and digital solutions. We seek to expand, strengthen and diversify Air T's after-tax cash flow per share. Our goal is to build Air T's core businesses, and when appropriate, to expand into adjacent and other industries. We seek to activate growth and overcome challenges while delivering meaningful value for all stakeholders. For more information, visit <a rel="nofollow" href="https://pr.report/mo1v">www.airt.com</a>. The information on our website is available for information purposes only and is not incorporated by reference into this press release.</p><p><strong>CONTACT</strong></p><p>Tracy Kennedy, Chief Financial Officer<br/><a rel="nofollow" href="mailto:tkennedy@airt.com">tkennedy@airt.com</a></p><p><strong>SOURCE:</strong> Air T, Inc.</p><br/><br/>View the original <a href='https://www.accessnewswire.com/newsroom/en/industrial-and-manufacturing/crestone-air-partners-an-air-t-business-completes-acquisition-of-arena-1178327'>press release</a> on ACCESS Newswire<br/><br/>
      <img src="https://app.accessnewswire.com/img.ashx?id=1178327" width="0" height="0"/>

AIRT

Crestone Air Partners, an Air T Business, Completes Acquisition of Arena Aviation Capital, Surpassing $3.6 Billion in Assets Under Management

Air T Expands Crestone AUM to $3.6B via Arena Acquisition, Emphasizing Buy-To-Build Model

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Milestone reflects Air T&amp;#39;s permanent-capital, buy-to-build model and the momentum of its networked aviation portfolio MINNEAPOLIS, MN / ACCESS Newswire / June 16, 2026 / Air T, Inc. (NASDAQ:AIRT) today announced that its</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Air T&#039;s Crestone completed the Arena Aviation Capital acquisition, lifting combined AUM to $3.6 billion and validating Air T&#039;s permanent-capital, buy-to-build strategy. The deal expands cross-portfolio capabilities and could lift fee-based revenues through a larger, scalable aviation platform, backed by minority investor Blue Owl and a high-control stake for Air T.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Crestone Air Partners completes Arena Aviation Capital acquisition. AUM now $3.6B.</li><li>Air T holds ~83.9% of Crestone post-merger; Blue Owl invests up to 12.5%.</li><li>AUM rose to $1.2B by 3/31/2026 before closing.</li><li>Crestone targets 10%+ after-fees returns, boosting fee income potential.</li><li>Air T reinforces permanent-capital buy-to-build model and networked aviation portfolio.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Air T, Inc. (AIRT)</strong>: Completed Arena acquisition via Crestone; expands AUM and reinforces buy-to-build model.</li><li><strong>Crestone Air Partners (N/A)</strong>: Majority-owned by Air T; post-merger platform with $3.6B AUM; networked aviation assets.</li><li><strong>Arena Aviation Capital (N/A)</strong>: Acquired by Crestone; diversified aviation asset manager with deep airline relationships.</li><li><strong>Blue Owl Capital (BLUE)</strong>: Invested up to 12.5% of Crestone post-merger; valuation $80M; third-party validation.</li></ul>
  </section>

  <section data-block="category">
    <h3>M&amp;A</h3>
    <p>Category: M&amp;A / Corporate Developments. The deal epitomizes Air T’s buy-to-build strategy and networked portfolio expansion, with immediate AUM growth and elevated ownership in Crestone signaling scale-driven earnings potential.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Combined Crestone AUM now $3.6B, expanding fee-revenue potential.</li><li>Blue Owl Capital investment of up to 12.5% signals external validation.</li><li>Air T controls ~83.9% of Crestone, supporting potential earnings accretion.</li><li>Permanent-capital, buy-to-build approach highlighted as a competitive differentiator.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Acquisition disclosed March 8, 2026; closed June 16, 2026.</li><li>AUM: Dec 31, 2025 = $800M; Mar 31, 2026 = $1.2B; post-deal = $3.6B.</li><li>Air T ownership in Crestone post-merger = ~83.9%.</li><li>Blue Owl Capital invested in Crestone post-merger for up to 12.5% at $80M valuation.</li><li>MRC Parties exited CAM with a 10% stake sold for $6.2M; pre-money CAM = $62M.</li><li>Crestone targets 10%+ after-fees returns.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Bullish over 12–18 months as AUM scale and cross-portfolio synergies lift fee revenue and cash flow.</p>
  </section>
</section>


<p><i><strong>Milestone reflects Air T's permanent-capital, buy-to-build model and the momentum of its networked aviation portfolio</strong></i></p> <p><strong id="dateline">MINNEAPOLIS, MN / <a href='https://www.accessnewswire.com/'>ACCESS Newswire</a> / June 16, 2026 / </strong>Air T, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AIRT">AIRT</a>) today announced that its majority owned business Crestone Air Partners, a global aviation asset management platform, has completed its acquisition of Arena Aviation Capital - a well-established aviation asset manager with a diversified portfolio and deep airline relationships. The transaction, first disclosed on March 8, 2026, has now closed following the satisfaction of all customary closing conditions and required approvals.</p><p>The acquisition materially expands Crestone. Assets under management (AUM) as of December 31, 2025, were $800 million; as of March 31, 2026, AUM had grown to $1.2 billion; and post-transaction, the combined platform now comprises $3.6 billion of AUM. Crestone receives standard aviation industry management fees, including origination fees, administrative fees, disposition fees, and an incentive fee above a certain hurdle rate (which varies by investment transaction). Our aviation asset management platforms seek to generate 10%+ returns after fees.</p><p>Immediately prior to the closing, Air T owned 90% of the common interests in Crestone Asset Management, LLC ("CAM"). At this same time, entities controlled by the Mill Road Investors collectively owned the remaining 10% of the common interests in CAM. In connection with the transactions, Air T and Aviation Growth Initiatives, LLC ("AGI"), a management-affiliated entity formed by executives of Crestone Air Partners, Inc., acquired the MRC Parties' 10% common interest position in CAM at a pre-money valuation of $62 million for aggregate cash consideration of $6.2 million. In connection with the reorganization, the parties also amended CAM's limited liability company agreement to reflect the exit of the MRC parties from the common interest holder group.</p><p>On the closing date, Blue Owl Capital bought in to Crestone Air Partners at an $80 million valuation post-merger for up to 12.5% of Crestone Air Partners, dependent upon Crestone performance. Air T now owns approximately 83.9% of the equity of this business.</p><p>This transaction is a clear expression of how Air T invests. We are a permanent capital vehicle - buying to build, not to trade - and we give the leaders of our businesses the runway and resources to grow on their own terms.</p><p>"We buy to build and empower dynamos and dynamic teams. Our investments don't come with expiration dates," said Nick Swenson, Chief Executive Officer of Air T, Inc. "Crestone has grown from zero to over $3.5 billion dollars in assets under management in five years. Our job was to provide permanent capital and the runway, then let Crestone build. Crestone's leasing capabilities are supported by the AirT network: airframe and engine material sales, landing gear leasing, disassembly, storage, and MRO facilities all sit inside the Air T family. Crestone can draw on every one of them across an aircraft's life. Aviation has a lot of niche, high-value businesses within it, and we seek to know them well. That's the momentum a networked portfolio creates - and we intend to keep at it."</p><p>For additional information on the transaction, please refer to the Crestone Air Partners Press Release.</p><p><strong>NOTE REGARDING STAKEHOLDER QUESTIONS</strong></p><p>If you have questions related to this release or other Air T matters, please use our interactive Q&A capability, through <a rel="nofollow" href="https://pr.report/mo1t">Slido.com</a><a rel="nofollow" href="https://pr.report/mo1u">,</a> accessible from our website, to submit your questions. We intend to keep that link open and available for shareholder questions. Questions submitted through Slido will be answered "live" and in writing at our Annual Meeting, and via a written response on a quarterly basis. Note that legal and pragmatic requirements restrict us from answering every question posted, yet we intend to address all reasonable and relevant questions with a written answer.</p><p><strong>ABOUT AIR T, INC.</strong></p><p>Established in 1980, Air T Inc. is a portfolio of powerful businesses and financial assets, each of which is independent yet interrelated. Its core segments are overnight air cargo, ground support equipment, commercial aircraft, engines and parts, regional airline and digital solutions. We seek to expand, strengthen and diversify Air T's after-tax cash flow per share. Our goal is to build Air T's core businesses, and when appropriate, to expand into adjacent and other industries. We seek to activate growth and overcome challenges while delivering meaningful value for all stakeholders. For more information, visit <a rel="nofollow" href="https://pr.report/mo1v">www.airt.com</a>. The information on our website is available for information purposes only and is not incorporated by reference into this press release.</p><p><strong>CONTACT</strong></p><p>Tracy Kennedy, Chief Financial Officer<br/><a rel="nofollow" href="mailto:tkennedy@airt.com">tkennedy@airt.com</a></p><p><strong>SOURCE:</strong> Air T, Inc.</p><br/><br/>View the original <a href='https://www.accessnewswire.com/newsroom/en/industrial-and-manufacturing/crestone-air-partners-an-air-t-business-completes-acquisition-of-arena-1178327'>press release</a> on ACCESS Newswire<br/><br/>
      <img src="https://app.accessnewswire.com/img.ashx?id=1178327" width="0" height="0"/>

Air T's Crestone completed the Arena Aviation Capital acquisition, lifting combined AUM to $3.6 billion and validating Air T's permanent-capital, buy-to-build strategy. The deal expands cross-portfolio capabilities and could lift fee-based revenues through a larger, scalable aviation platform, backed by minority investor Blue Owl and a high-control stake for Air T.

Crestone Air Partners, an Air T Business, Completes Acquisition of Arena Aviation Capital, Surpassing $3.6 Billion in Assets Under Management

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

M&A

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