Madison Air (MAIR) Bets Big With A $2.25B Stock Sale
Madison Air (NYSE:MAIR) plans to sell $2.25B in new stock to fund a $5B German acquisition. Q2 revenue rose 21% to $991.3M, adjusted EBITDA up 18% to $265.8M, and net income up 129% to $70.5M. The company raised its full-year guidance. Chairman Larry Gies will invest $300M. The deal will increase leverage to 3.7x, up from 2.8x. Regulatory approval is pending.



