On November 3, 2016, the Board of Directors of Air T Inc. adopted a resolution increasing the size of the Board of Directors from seven to eight and elected Raymond E. Cabillot as a director to fill the vacancy created by this expansion in the size of the Board. Mr. Cabillot, age 53, has served since January 1998 as Chief Executive Officer and a director of Farnam Street Capital Inc., the General Partner of Farnam Street Partners L.P. Mr. Cabillot has not yet been appointed to serve on any committee of the Company's Board of Directors.
Air T, Inc. is a holding company with a portfolio of operating businesses and financial assets. The Company has four segments: Overnight air cargo, Ground equipment sales, Commercial jet engines and parts, and Corporate and other. Overnight air cargo segment operates in the air express delivery services industry. Ground equipment sales segment manufactures and provides mobile deicers and other specialized equipment products to passenger and cargo airlines, airports, military and industrial customers. Commercial jet engines and parts segment manages and leases aviation assets, supplies surplus and aftermarket commercial jet engine components, provides commercial aircraft disassembly/part-out services, commercial aircraft parts sales, and procurement services and overhaul and repair services to airlines. Corporate and other segment acts as the capital allocator and resources for other consolidated businesses. Further, the segment is also comprised of insignificant businesses.
AIR T, INC. 