AIIR reports $206.9 million revenue and stable $71.7 million adjusted EBITDA amid Hormuz disruption and volume declines.
AIR Global PLC (AIIR) reported 3.7% year-over-year revenue growth to $206.9 million in the first half of 2026, up from $199.5 million, despite supply chain disruptions. Adjusted EBITDA remained stable at $71.7 million, while gross profit rose 2.4% to $116.8 million from $114.0 million.
The company faced a 9.0% decline in FSM shipment volumes and a 46.5% drop in Global Travel Retail volumes due to the Strait of Hormuz closure. Americas led regional performance with a 17.2% increase in adjusted EBITDA and a 46.3% margin expansion, while Europe remained under pressure.
AIIR guided for 4-6% revenue growth in 2026 and low-to-mid single-digit adjusted EBITDA growth, expecting a volume-led recovery in the second half as channel inventories normalize. The $20 million Greentank investment and Crown Switch remain key near-term catalysts.