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Tag: Air Industries

  • Air Industries (NYSE:AIRI) Secures Largest Contract, Shares Skyrocket

    Air Industries (NYSE:AIRI) Secures Largest Contract, Shares Skyrocket

    Since the announcement of the company’s largest contract to date, the stock value of Air Industries Group (NYSE: AIRI) has experienced an exceptional jump. Shares of AIRI have more than doubled and are now trading at $7.70, up an amazing 105.38% as of the most recent market check. Increased investor confidence in the company’s future prospects is reflected in this notable increase.

    $110 million contract accelerates the growth of Air Industries Path

    In order to manufacture thrust struts, a crucial component of the jet engine used in Geared Turbo-Fan (GTF) aircraft, Air Industries has secured a $110 million, seven-year contract. Air Industries has furthered its dominance in the aerospace and military industrial business by being the exclusive supplier of this essential component since 2015.

    This contract, which is slated to begin in January 2025 and last until 2031, will replace and build upon the present one, which was meant to end in December 2024. This new agreement marks a major turning point for Air Industries, particularly for its Thrust Struts product line, which has been the foundation of the business’s activities for almost a decade.

    The contract will significantly bolster the company’s backlog, pushing it beyond $280 million for the first time—a remarkable achievement that underscores the strategic importance of this agreement.

    Strategic Investments by AIRI and Its Market Impact

    Air Industries’ Long Island manufacturing facility is expected to dedicate approximately 40,000 hours annually to fulfill the demands of this contract. The production process relies on highly specialized machinery, which the company has strategically upgraded in anticipation of such large-scale projects.

    This foresight ensures that AIRI can meet the rigorous demands of the aerospace supply chain, where the Thrust Struts play a crucial role. The successful acquisition of this contract not only fortifies Air Industries’ relationship with a key customer but also delivers a substantial win for shareholders.

    Following the recent Farnborough Air Show, Air Industries (AIRI) remains focused on business development, strengthening existing relationships, and exploring new partnerships, positioning itself for continued growth in the aerospace sector.

  • Air Industries (AIRI) Shares Rebound In After-Hours Trading Following Big Order

    Air Industries (AIRI) Shares Rebound In After-Hours Trading Following Big Order

    Receiving a substantial order has led to a significant surge in Air Industries Group (NYSE: AIRI) stock price during the after-market session on Thursday. The stock spiked by 7.09%, reaching $5.74, partially offsetting the regular-session loss of 21.06% which concluded with a price of $5.36.

    Major Orders For Military Helicopter Components

    Air Industries (AIRI) announced that it had secured orders totaling $8.2 million from two customers for components used in UH-60 Black Hawk and H-92 Super Hawk helicopters. These contracts highlight the increasing demand for critical military aircraft parts and emphasize Air Industries’ significant role in supporting vital military aircraft programs.

    Even though AIRI’s product range has expanded to include H-92 components more recently, the business has a long history of supplying the Black Hawk with dependable flight-critical assemblies, demonstrating its commitment to this important program. It is anticipated that these components will begin to be delivered around 2025.

    Consistent Support For Military Aircraft Initiatives

    Air Industries supports the UH-60 Black Hawk helicopter platform by supplying essential flight-critical parts including the primary flight control unit and main transmission beam. The UH-60 Black Hawk, the principal helicopter of the U.S. Army, is widely utilized for transport, troop mobility, medical evacuation, and cargo lift tasks.

    Manufactured by Sikorsky, this versatile helicopter is used by various branches of the U.S. military and allied countries. The H-92 Super Hawk, a multi-mission military derivative of the S-92 commercial helicopter, serves as a larger alternative to the Black Hawk. It is notably utilized by Canada in its Maritime Helicopter Program, further broadening the scope of Air Industries’ contributions to international military operations.

    Positive Outlook For Fiscal 2024

    For Air Industries, fiscal 2024 has commenced on a positive note. The company continues to benefit from strong order and opportunity flows, as evidenced by the recent substantial bookings. In its latest financial report, Air Industries recorded bookings worth $12.95 million and saw its backlog increase to $99.3 million.

    The company remains focused on closing several large opportunities, ensuring continued growth and stability in its operations. This promising start to the fiscal year underlines Air Industries’ strategic importance and robust performance in the defense sector.