Highest-materiality recent filing
Air Industries extends Webster Bank loan maturity to Nov 30, 2026
Twelfth Amendment extends maturity of revolving credit and term loans under Webster Bank agreement to November 30, 2026.
Air Industries extends merger outside date with Tenax Aerospace to Nov 30, 2026 due to SEC review
SEC notified Air Industries it will review the S-4 registration statement filed July 22, 2026 for the Tenax merger.
Fixed Merger Consideration: 126.9M shares (25.38M post-split) to Tenax members; Debt Adjusted AIR Share Price set at $3.05 ($15.25 post-split).
Air Industries amends merger agreement to exclude $1.97M customer advance from net debt calculation
Amendment to Feb 2026 merger with Tenax redefines AIR Net Indebtedness to exclude a $1.97M prepayment from a customer.
Air Industries appoints Glassman as Acting CEO, Drisgula as VP Finance
Scott Glassman appointed Acting CEO and President on March 18, 2026; annual salary $231,000.
Air Industries CEO Lou Melluzzo resigns effective March 11, 2026; separation agreement disclosed
CEO and President Lou Melluzzo resigned from all positions on March 11, 2026; no disagreement cited.
Air Industries extends Webster Bank loan maturity to Sept 30, 2026; pays $25K fee
Eleventh Amendment to Loan & Security Agreement extends maturity date of revolving credit and term loans to September 30, 2026.
Air Industries reports preliminary 2025 net loss of $1.3M on sales of $47.9M
Consolidated sales approximately $47.9M; gross profit $8.1M (17.1% margin).
Air Industries to acquire Tenax Aerospace via share issuance; Tenax holders to own 95%
Issues ~112.5M shares (95% post-close) to Tenax members; existing holders retain ~5%.
Air Industries gets Webster Bank waiver on two defaults, extends loan to March 2026
Webster Bank waived defaults for failing fixed charge coverage ratio Q2 2025 and exceeding FY2025 capex limit.
Air Industries posts Q3 2025 net loss of $44k; Adj. EBITDA rises to $1.28M
Q3 net sales $10.3M (down 17.9% YoY); net loss narrowed to $44k from $404k; gross margin expanded to 22.3% from 15.5%.
Air Industries amends credit agreement; $3.93M ATM proceeds placed as collateral
Ninth Amendment to Loan and Security Agreement with Webster Bank, dated Sept 9, 2025.
Two contracts worth ~$6.9M for Fixed Wing Landing Gear and Rotorcraft Components for combat helicopters aftermarket MRO.
Air Industries Q2 net loss $422k, revenue down 7%; lowers H2 outlook
Q2 net sales $12.7M, down 6.7% YoY; net loss of $422k vs income of $298k in Q2 2024.
Air Industries announces Q2 2025 earnings release date and conference call
Results for three and six months ended June 30, 2025 to be released August 14, 2025 pre-market at 7:00 AM ET.
Air Industries increases authorized shares to 20M and lowers quorum to 33.33%
Authorized common shares increased from 6M to 20M, effective July 8, 2025.
Air Industries Group secures $5.4M B-52 landing gear contract, deliveries 2026-2027
Contract valued at $5.4 million for Landing Gear Steering Collar Components for US Air Force B-52 aircraft.
Air Industries shareholders approve authorized share increase from 6M to 20M
Authorized common shares increased to 20M from 6M; 1,941,264 for, 415,469 against.
Air Industries Q1 sales down 13.7% to $12.1M; gross margin improves; net loss widens to $988K
Net sales $12.1M vs $14.1M in Q1 2024 (-13.7%); gross profit up 6.7% to $2.0M, gross margin 16.8% (+320 bps).
Air Industries Group schedules Q1 2025 earnings release and conference call for May 15
Q1 2025 results to be released pre-market on Thursday, May 15, 2025 at 7:00 AM ET.
Air Industries Group auditor Marcum resigns; CBIZ CPAs appointed as successor
Marcum LLP resigned as independent auditor on April 16, 2025; CBIZ CPAs (acquired Marcum's attest business) engaged on April 17, 2025.
Air Industries sets June 26, 2025 annual meeting; record date April 30
Annual meeting scheduled for June 26, 2025; record date for voting is April 30, 2025.
Air Industries Group announces conference call for FY2024 results on April 16
Air Industries (NYSE American: AIRI) will host a conference call on April 16, 2025 at 8:30 AM ET to discuss FY2024 results.
Air Industries reports FY2024 preliminary results: sales +7% to $55.1M, backlog record >$250M
Net sales $55.1M (+7% YoY), gross margin 16.2% (+180 bps), operating income $459K vs loss.
Air Industries secures $3.3M in US Navy E-2D landing gear contracts
Two contracts worth ~$3.3 million for landing and arresting gear components for the E-2D Advanced Hawkeye.
Air Industries receives Northrop Grumman Supplier Excellence Award for strategic partnership
Northrop Grumman (NOC) recognized Air Industries (AIRI) as one of its top supplier partners.
Air Industries secures $1.5M in contracts for B1-B and F-16 landing gear components
Two contracts worth ~$1.5M for landing gear components on USAF B1-B Lancer bomber and F-16 Fighting Falcon.
Air Industries retains RedChip Companies for IR; launches CNBC TV commercial
Retained RedChip Companies as investor relations consultants.
Air Industries updates investor presentation on website; no material changes disclosed
Press release dated Feb 24, 2025 announces updated investor presentation.
Air Industries repays over $1.0M of subordinated debt, plans further reductions
Repaid more than $1.0 million of subordinated debt as of Feb. 5, 2025.
Air Industries expands term loan by $1.6M, relaxes covenants with Webster Bank
Relaxed financial covenants, permitted subordinated debt repayment, expanded Term Loan by ~$1.6M.
Air Industries subsidiary Sterling Engineering featured in Hartford Business Journal
Sterling Engineering Company, based in Barkhamsted, CT, highlighted in January 27, 2025 edition of Hartford Business Journal.
Air Industries fiscal 2024 preliminary sales up ~6.6%; record bookings and backlog over $270M
Preliminary sales increased approx 6.6% YoY; total bookings grew 15% over 2023.
Air Industries secures $5.9M contract for F-5/T-38 aircraft actuators
Contract worth $5.9 million for flight control assemblies on US Air Force F-5/T-38 aircraft.
Air Industries secures $2.6M E-2D aftermarket landing gear contract; total Dec bookings >$45M
New $2.6M award for main landing gear assemblies for US Navy E-2D Advanced Hawkeye aftermarket MRO.
Air Industries secures $33M multi-year contract for CH-53K helicopter components
Seven-year agreement valued at $33.0M to manufacture complex components for CH-53K King Stallion.
Air Industries secures $11M follow-on contract for Navy E-2D landing gear assemblies
Contract valued at over $11.0 million for landing gear assemblies for U.S. Navy E-2D Advanced Hawkeye.
Air Industries secures $4.0M follow-on F-35 arresting gear contract from European partner
Contract valued at ~$4.0M for F-35 Lightning II arresting gear components.
Air Industries Q3 net loss narrows 69% to $404K, adj EBITDA turns positive to $845K
Q3 revenue $12.6M (+2.1% YoY), gross margin 15.5% vs 10.0%, op income $67K vs loss $796K.
Air Industries Group schedules Q3 2024 earnings release for Nov 14
Will release financial results for three and nine months ended September 30, 2024 on Nov 14 pre-market.
CEO Lou Melluzzo will present at MicroCap Rodeo Fall Conference on Oct 16, 2024 at 2:00 PM ET.
Air Industries Group shareholders elect directors, approve equity plan increase at annual meeting
All six director nominees elected with over 94% votes for; 480,816 broker non-votes.
Air Industries partners with All-System Aerospace for foreign military sales across 17 countries
Marketing agreement with All-System Aerospace to pursue FMS in 17 countries across Europe, Middle East, Asia, and Pacific.
Air Industries Group secures $110M GTF engine components contract, backlog tops $280M
Secured $110M, 7-year contract for thrust struts used in GTF aircraft jet engines; sole supplier since 2015.
Air Industries posts Q2 profit of $298K ($0.09/share) vs year-ago loss; revenue rises 2.8%
Q2 net sales $13.572M (+2.8% YoY); gross margin expanded to 19.5% from 16.4%.
Air Industries Group to release Q2 2024 results on August 14, holds conference call same day
Earnings release scheduled for August 14, 2024, pre-market at 8:30 AM ET.
Air Industries waives covenant default, receives $1M term loan advance from Webster Bank
Fixed charge coverage ratio default for Q1 2024 waived.
Air Industries receives $2.4M order for E-2C Hawkeye landing gear
Order for spare landing gear assemblies to support the E-2C Hawkeye program.
Air Industries receives $8.2M in orders for Black Hawk and H-92 helicopter components
Orders of $8.2M from two customers for components on UH-60 Black Hawk and H-92 Super Hawk helicopters.
Air Industries Q1 net loss $706K on sales $14.1M; backlog $99.3M
Net sales $14.1M (+12% YoY); net loss $706K ($0.21/share) vs loss $618K ($0.19/share) last year.
On October 16, 2023, Scott Glassman was appointed by the Board of Directors of Air Industries Group (the “Company”) to the positions of Chief Financial Officer, Principal Accounting Officer and Secretary of the Company.
Mr. Glassman succeeds Michael Recca as the Company’s Chief Financial Officer, Principal Accounting Officer and Secretary of the Company.
Max materiality 0.95 · Median 0.55 · Most common event other_material