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.
