Mr. Igal Zamir, TAT’s CEO and President commented: “We are very proud to report another record quarter marked by revenue growth, margin expansion, and profitability improvement. Our results demonstrate increasing demand for our products and services, which are aligned with our growth strategy. This was the seventh consecutive quarter of growth in revenue and EBITDA, and given our growing momentum and backlog, we expect this trend to continue.”

“During the second quarter, we secured orders of more than $40 million, resulting in a record backlog and LTA Value of over $414 million,” continued Mr. Zamir. “These new orders give us significant visibility into revenue potential over the coming quarters and bolster our confidence in continued success. On top of the continued revenue growth, we invest efforts in improving our operational efficiency and cost structure. This resulted in an improved Gross Margin and EBITDA margin.

During the first six months of 2024 we started serving APU of the newly certified 131 and 331-500 which serves a fleet of close to 20,000 aircraft with addressable annual market of over $2 Billion. The revenue obtained during the first half of 2024 is mainly driven from TAT’s historical products and services. The revenue from these new engines capabilities is yet insignificant, – this makes are very excited about our future revenue growth and profits, once we start utilizing the potential of this new market. We will continue to expand our customer base for those engines MRO services according to our growth strategy”