Crestone Air Partners, the global aviation asset‑management platform majority‑owned by Air T, Inc., entered into a definitive agreement on March 8 2026 to acquire Arena Aviation Capital, a well‑established aviation asset manager with a diversified portfolio and deep airline relationships. The announcement to the media was made on March 9 2026 and the deal is subject to customary closing conditions and regulatory approvals.
The transaction expands Crestone’s asset‑management capabilities into new markets and client segments. Upon completion, the combined platform will manage more than $4 billion in assets, lease approximately 124 aircraft and 17 engines, and employ over 55 people across five countries. The deal is expected to enhance Crestone’s scale, diversify its revenue base, and provide Air T with a stronger foothold in the aviation ecosystem.
Air T, Inc. carries a debt burden of $211.67 million and has experienced an 8.63% decline in revenue over the last twelve months. The acquisition is part of Air T’s strategy to grow its aviation footprint through acquisitions and to potentially sell a minority stake in Crestone, which could improve its capital structure and cash position.
Kevin Milligan, CEO and Co‑Founder of Crestone Air Partners, said the transaction is a “natural strategic fit” that reflects the industry’s benefit from disciplined consolidation. He added that Arena brings a highly respected team, strong technical capabilities, and long‑standing relationships with aircraft owners and airlines. Patrick den Elzen, CEO of Arena Aviation Capital, noted that joining Crestone “creates new opportunities for our team, strengthens our offering to investor clients, and positions the platform for long‑term success.”
The deal underscores Air T’s continued focus on expanding its aviation asset‑management footprint and leveraging existing relationships to capture additional market share. While specific terms such as purchase price and financing structure remain undisclosed, the strategic rationale is clear: to build a larger, more diversified platform that can better serve investors and airlines alike.
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