AIR T, INC. ACQUIRES WORLDWIDE AIRCRAFT SERVICES, INC.

Springfield, MO – February 1, 2023 – AIR T INC (NASDAQ: AIRT) completed the successful acquisition of Worldwide Aircraft Services Inc. through a stock purchase transaction. The effective date of this ownership change is 2/1/2023.

Worldwide Aircraft Services is an FAA 145/EASA certified Maintenance Repair Overhaul (MRO) provider that is conveniently located in Springfield, Missouri. Incorporated in 1986, WASI offers a full range of maintenance and engineering services to the “Regional/Commuter” sized jets and turbo prop aircraft market.

Mr. Peter Barry, a forty-year aviation industry veteran, has joined the organization as the Vice President of MRO Services, and has daily control and oversight of this business unit.

According to Mr. Barry, “Our focus is to continue to provide to our customers the high level of workmanship and service that they have come to expect from Worldwide over the years. We see ourselves as a leader in the industry providing collaborative maintenance and engineering solutions to regional aircraft owners and operators.”