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Air Industries Group ( (AIRI) ) has issued an announcement.
On February 3, 2025, Air Industries Group announced an amendment to its Credit Facility with Webster Bank, its primary lender, which includes relaxing covenants, permitting repayment of subordinated debt, and expanding the term loan by approximately $1.6 million. This expansion facilitates the purchase of advanced machinery worth about $1.9 million, aimed at boosting production capacity to support a recently announced $33 million contract for the CH-53K heavy lift helicopter, thereby significantly enhancing throughput.
More about Air Industries Group
Air Industries Group is a leading manufacturer of precision components and assemblies for large aerospace and defense prime contractors. Its product portfolio includes landing gears, flight controls, engine mounts, and components for aircraft jet engines, ground turbines, and other complex machines, all crucial for mission-critical operations ensuring the safety of military personnel and civilians.
YTD Price Performance: 2.35%
Average Trading Volume: 65,145
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $14.64M
For a thorough assessment of AIRI stock, go to TipRanks’ Stock Analysis page.
