Air T subsidiary MAC acquires Royal Aircraft Services for $1.05M; funds via term loan

AIR T INC

Mountain Air Cargo purchased all membership interests of Royal Aircraft Services, an aircraft painting, MRO, and parts supplier.
$1.05M term loan from Alerus Financial; interest at greater of 5% or 1-month SOFR plus 2.25%.
Term loan matures May 15, 2030; monthly principal payments of $12,500 plus accrued interest start June 15, 2025.
Royal Aircraft added as borrower under existing Alerus credit agreement; Amendment No. 4 executed.
Acquisition will be included within MAC division operations.

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