Denver, COLORADO, May 30th, 2024 – Crestone Air Partners, Inc., a full-service aviation asset management platform, wholly owned by Air T, Inc. (NASDAQ: AIRT), announces the promotion of Kevin Milligan to the position of CEO, effective today, May 30th. Kevin, who has been an integral part of the Crestone team as one of the original co-founders, brings a wealth of experience and a proven track record of leadership to his new role, previously heading operations, finance, and investor relations.

Kevin Milligan's journey with Crestone has been defined by dedication and strategic vision. He has played a pivotal role in continuing to establish Crestone Air Partners as a prominent aviation asset management platform. Kevin expressed his enthusiasm for his new role, stating, "I am honored to take on the CEO role and am committed to leading Crestone Air Partners to new heights. I look forward to continuing to work alongside our talented team to deliver exceptional results for our investors and customers."

Nick Swenson, Chairman and CEO of Air T, Inc., comments: "Kevin is an excellent leader—displaying technical know-how and market insights— to go along with his drive and rational ambitions for Crestone. I have complete confidence in Kevin's ability to lead Crestone Air Partners into its next chapter. Crestone is well positioned to maximize value and drive edge for mid-to-end-of-life aviation assets through its full-service asset management platform backed by Air T's interrelated aviation specialist businesses. I commend Sebastian Lourier for his contributions during his tenure as CEO. Sebastian Lourier departs Crestone to pursue new opportunities."

Kevin continues, "Crestone thanks Sebastian for his invaluable contributions and steadfast leadership during his time as CEO. He has left an indelible mark on the company, shaping its success and fostering a culture of excellence. The entire Crestone team extends its best wishes to Sebastian for continued success and fulfillment in all his future ventures."