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For Immediate Release

Contrail Appoints Aviation Leasing Expert Sebastian Lourier as Director of Leasing and Asset Management

Verona, WI – March 5, 2017 – Contrail Aviation Support, LLC. (www.contrail.com), a trusted worldwide supplier of surplus and aftermarket commercial jet engine components since 2000, today announced the appointment of aviation leasing expert Sebastian Lourier as Director of Leasing and Asset Management in order to further develop and strengthen the Company's aircraft engine leasing platform and capabilities.

Lourier joins Contrail with over 15 years of aviation finance and operations experience with core competencies in aircraft engine leasing and trading. Most recently, Lourier was Vice President, Sales and Lease Management of Fortress, Inc., a global investment management firm (New York and Dubai). In his role at Fortress, he identified and executed on aircraft and engine sales, and leasing opportunities by maintaining a comprehensive global network of relationships with leasing companies, major airlines, MROs, OEMs and trading companies as well as being responsible for leasing related day-to-day operations, including aircraft and engine maintenance contracts and portfolio management. Previously, Lourier was Director, Portfolio Management of Aviation Capital Group, LLC, a worldwide provider of aircraft leasing to airlines, and Director, Supply Chain of US Airways. He was also a Senior Financial Analyst at Northwest Airlines (now Delta) and America West Airlines.

Joseph Kuhn, CEO of Contrail Aviation Support, LLC, said: "We are quite pleased to have Sebastian join Contrail and head up our aircraft engine leasing division. His international background spans all facets of the aviation leasing industry, from manufacturing to operations as well as from analytical thinking to negotiations. What's more, his 15 plus years of aviation experience is both wide and deep, including leadership roles at major leasing firms, airlines and OEMs. Sebastian not only speaks the language of leasing at tech, finance and executive levels, which makes him an incredibly trusted resource for all key stakeholders, but also he has a diverse cultural background in which he speaks English, German and a working knowledge of French. This unique combination empowers him to translate any leasing opportunity into high-impact outcomes for all parties involved."

Lourier commented, "I was born into an airline family – it's in my blood – and I have since been around the aviation industry all my life. Now, I'm thrilled about continuing this lifelong and professional journey by being part of Contrail, which is a nimble company operated by an established, close-knit team, who, with Joe's vision, has what it takes in my view to take this company to the next level."

Added Lourier, "The aviation industry is a driver of economic growth worldwide. I'm excited about the opportunities at hand to shape and grow Contrail's leasing division – its foundation, processes and capabilities – in order to further establish Contrail's global presence as a lessor as well as layer on newer generation aircraft and engine leasing opportunities within the Company's existing inventory portfolio."

Lourier holds an MBA in Aviation, Embry Riddle Aeronautical University with a focus on analysis of aircraft value forecasting techniques and Bachelor's in Industrial Engineering, Rheinische Fachhochschule Köln – Germany.

Contrail's asset focus is on the CFM International CFM56-3/-5/-7 engines, and the International Aero Engine V2500A5 engine, which power the two most prevalent narrow body, single aisle aircraft flown commercially today, the Boeing 737 Classic / 737NG, and the Airbus A320 family. In addition, the Company intends to expand its asset portfolio to include whole engine and aircraft leasing.

Contrail's quality system is accredited by the ASA and recognized as providing industry-leading quality to our customers. All components are overhauled by fully accredited FAA authorized repair agencies.

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About Contrail Aviation Support, LLC
Contrail Aviation Support, LLC. was founded in 2000 with the goal of being a leading supplier of commercial jet engine aftermarket and surplus material that power the worldwide narrow body commercial aircraft fleets. Our operations are located two hours north of Chicago's O'Hare airport in a 21,000 sqft facility. The Company has the ability to add personnel as needed, and our warehouse can accommodate inventory equaling up to 50 fully disassembled CFM56/V2500 engines. For nearly two decades, Contrail has grown by leveraging its expertise and experience of the surplus industry to ensure that our inventory is always relevant for the ever-changing marketplace. Today, Contrail remains a trusted and growing worldwide supplier of surplus and aftermarket commercial jet engine components. For more information, visit www.contrail.com.

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Contacts

Acquisitions & Leasing
Sebastian Lourier, Director of Leasing and Asset Management

720-416-3386

Media
Joe Kuhn, CEO

608-848-8100


For Immediate Release

Contrail Appoints Aviation Finance Expert Steve Williamson as Director of Acquisitions and Trading

Verona, WI – February 20, 2017 – Contrail Aviation Support, LLC. (www.contrail.com), a trusted worldwide supplier of surplus and aftermarket commercial jet engine components since 2000, today announced the appointment of aviation finance expert Steve Williamson as Director of Acquisitions and Trading to bolster the acquisition, sales and trading of the Company's product inventory.

Contrail's asset focus is on the CFM International CFM56-3/-5/-7 engines, and the International Aero Engine V2500A5 engine, which power the two most prevalent narrow body, single aisle aircraft flown commercially today, the Boeing 737 Classic / 737NG, and the Airbus A320 family. In addition, the Company intends to expand its asset portfolio to include whole engine and aircraft leasing.

Steve Williamson joins Contrail with a decade of experience in the aviation finance and commercial aircraft industry with core competencies in financial analysis, mid-life aircraft management and client services. Most recently, Williamson was Senior Director, Asset Transaction Group of GA Telesis, LLC, one of the world's largest commercial aerospace firms offering aircraft leasing, aircraft overhaul and repair, and aircraft replacement parts. In his role at GA Telesis, Williamson was responsible for the initial underwriting and analysis of select multi-million-dollar transactions as well as overseeing multiple stages of the purchase, sale and leasing of related commercial jet engine components. Previously, Williamson held account management and support positions with Brickhouse Capital, an equipment leasing and financing provider, as well as with Rolls Royce, as it related to corporate aircraft engine sales and customer database operations.

Joseph Kuhn, CEO of Contrail Aviation Support, LLC, said: "We are thrilled to have Steve join our growing and established company of aftermarket commercial jet engine components. He possesses the ideal mix of aviation finance experience and expertise, along with an extensive global network of contacts. Since 2000, Contrail has been building lasting relationships with engine MROs and asset owners -- one part, one sale at a time. Being well capitalized as a company, we look forward to leveraging his acquisitions and leasing know-how to further drive our business for many years to come."

Williamson said, "To be part of the Contrail family and be serving in a critical role that has the potential to make a significant impact at the company is extremely rewarding. With unyielding passion for the aviation industry, not only will I be focused on acquiring engines for teardown, but I also will be keen on expanding our asset transaction and leasing portfolio to include engine leasing, exchanging and trading."

Continuing, "We at Contrail are aggressively reviewing asset acquisition opportunities as well as offer cost-effective, end-of-life exit strategies for our customers' assets or assume short-term leases to optimize their cash flow."

Contrail's quality system is accredited by the ASA and recognized as providing industry leading quality to our customers. All components are overhauled by fully accredited FAA authorized repair agencies.

About Contrail Aviation Support, LLC
Contrail Aviation Support, LLC. was founded in 2000 with the goal of being a leading supplier of commercial jet engine aftermarket and surplus material that power the worldwide narrow body commercial aircraft fleets. Our operations are located two hours north of Chicago's O'Hare airport in a 21,000 sqft facility. The Company has the ability to add personnel as needed, and our warehouse can accommodate inventory equaling up to 50 fully disassembled CFM56/V2500 engines. For nearly two decades, Contrail has grown by leveraging its expertise and experience of the surplus industry to ensure that our inventory is always relevant for the ever-changing marketplace. Today, Contrail remains a trusted and growing worldwide supplier of surplus and aftermarket commercial jet engine components. For more information, visit www.contrail.com.

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Contacts

Acquisitions & Trading
Steve Williamson, Director of Acquisitions & Trading

720-276-5966

Media
Joe Kuhn, CEO

608-848-8100


For Immediate Release

Air T, Inc. Announces Acquisition of Contrail Aviation Support, Inc.

Maiden, NC – July 25, 2016 – Air T, Inc. (NASDAQ Capital Market: AIRT), a diversified holding company, today announced the acquisition of Contrail Aviation Support, Inc., a growing worldwide supplier of surplus and aftermarket commercial jet engine components based in Verona, WI. On July 18, 2016, pursuant to an Asset Purchase Agreement between Contrail Aviation Support, LLC ("New Contrail"), a North Carolina limited liability company and a subsidiary of Air T, Inc., and Contrail Aviation Support, Inc. ("Contrail") and Joseph Kuhn, the sole shareholder of Contrail, the Acquisition Subsidiary completed the purchase of all of the assets owned, used or usable by Contrail.

In connection with the acquisition, Joseph Kuhn, President of Contrail, was appointed as the Chief Executive Officer of New Contrail, and New Contrail extended employment to all other employees of Contrail. New Contrail will continue to operate the business at the same location in Verona, and customers and vendors should expect a seamless transition of the business to New Contrail.

Nick Swenson, Chairman and CEO of Air T, Inc., said: "We are very excited about this acquisition. It provides Air T with a new and dynamic growth platform within a segment of the aerospace industry that we believe is ripe with opportunity. Joe Kuhn is a skilled executive and talented leader. We welcome him and the Contrail team to the Air T family and look forward to partnering with them in strategically growing this business for the benefit of our collective stakeholders."

Joseph Kuhn, CEO of Contrail Aviation Support, LLC, said: "My team and I are thrilled to be part of the Air T family. We share the same vision for Contrail Aviation Support and its potential. Air T's leadership style, corporate resources, and access to capital will help us better serve our customers, expand our capabilities, and be more competitive in a changing industry landscape. We're looking forward to a bright future ahead."

For a more detailed description of the Securities Purchase Agreement referred to above, please read the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on July 19, 2016. Copies of the Form 8-K may be accessed on the Internet at the SEC's website, http://www.sec.gov.

About Air T, Inc.
Established since 1980, Air T, Inc. (NASDAQ: AIRT) is a diversified holding company with four core industry segments: overnight air cargo, aviation ground support equipment manufacturing, aviation ground support maintenance services, and aircraft engine aftermarket and surplus parts. Our ownership interests consist of a broad set of operating and financial assets that are designed to expand, strengthen and diversify Air T's cash earnings power. Our goal is to build on Air T's core businesses, to expand into adjacent industries, and when appropriate, to acquire companies that we believe fit into the Air T family. For more information, visit www.airt.net.

About Contrail Aviation Support, LLC.
Contrail was founded in 2000 with the goal of being a leading supplier of commercial jet engine aftermarket and surplus material, which power the worldwide narrow body commercial aircraft fleets. Since its inception, Contrail has grown by utilizing its expertise and knowledge of the surplus industry to ensure that the company's inventory is always relevant for the ever changing market place. Today, Contrail Aviation Support is a trusted worldwide supplier of surplus and aftermarket commercial jet engine components. For more information, visit www.contrail.com.