# Air Global PLC Ordinary Shares (AIIR.US)

Canonical: https://gigainvestors.com/s/AIIR

Analysis as of: 2026-10-16T07:26:19.245Z. 

Listing currency: USD. Reporting currency: USD.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: fail; earnings resilience is evidence only). Published buy qualification: no.

Share price: $7.50 per share; close as of 2026-10-15.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

- [Greg Alexander](https://gigainvestors.com/CM): tracked 13F investor; follow the investor page for holding quarter and amounts.

## Price story

Down 28% since Apr 2026

Story as of 2026-10-16T10:01:29.267Z; price observation 2026-10-15.

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in tobacco; annual sales are USD 399.7 million.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-05-21); FY2025: revenue 399737000; grossProfit 224336000; margin = grossProfit / revenue.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-15); AIIR.US: AIR Global PLC manufactures and sells hookah and inhalation products. Its portfolio includes flavored molasses brands, such as Al Fakher, Shisha Kartel, Zødiac, NameLess, and Kloud King, as well as inhalation devices, such as OOKA and VANT. It sells its products through direct-to-consumer, distributor, and licensed retail channels in approximately 90 markets worldwide. The company was founded in 1999 and is based in Dubai, the United Arab Emirates.

### Why customers stay

Margins ranged from 55.1% to 57.8% during 2023–25.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-05-21); FY2023: grossProfit / revenue = 55.1%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-05-21); FY2024: grossProfit / revenue = 57.8%.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-05-21); FY2025: grossProfit / revenue = 56.1%.

### Where the cash goes

Reinvests 11.8% of cash earnings; paid dividends in 1 of 3 years.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-05-21); FY2023: growth capex 0; upkeep 15807000; cash acquisitions 0; owner earnings 54309000. Growth capex plus acquisitions / owner earnings = 0.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-05-21); FY2024: growth capex 1404320.6113592684; upkeep 21011679.38864073; cash acquisitions 4286000; owner earnings 30756320.61135927. Growth capex plus acquisitions / owner earnings = 0.18501304766792084.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-05-21); FY2025: growth capex 2486971.856102973; upkeep 23330028.143897027; cash acquisitions 2655000; owner earnings 43541971.85610297. Growth capex plus acquisitions / owner earnings = 0.11809230581233447.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-05-21); Dividend observations: [[2023,0],[2024,0],[2025,693000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-05-21); FY2025: cash repurchases 470000 USD.

### Are managers owners

Insiders own 77.8% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-15); AIIR.US SharesStats.PercentInsiders = 77.828 percentage points; cache date 2026-10-15.

### What the price says

The price is 3 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-05-21); Closing price 7.5 USD; reporting-to-trading FX 1; FY2025 annual sales per share 2.4923341165367416; price multiple 3.0092273544855743. FY2025 cash earnings/share 0.2714813538858001. Closing-price date 2026-10-15.

## Monthly share-price history (USD per share)

- 2026-04: $10.42 per share

- 2026-05: $7.52 per share

- 2026-06: $6.66 per share

- 2026-07: $6.30 per share

- 2026-08: $7.48 per share

- 2026-09: $7.64 per share

- 2026-10: $7.50 per share

## Annual estimated value (USD per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original 20-F filing](https://www.sec.gov/Archives/edgar/data/2097725/000119312526234374/genesis_-_super_20-f_fil.htm); period 2026-05-15, filed 2026-05-21.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.