AIR T INC
Business
Air T, Inc. is a holding company operating five core aviation and related-services businesses. It provides overnight air cargo services via dry-lease operations for FedEx, manufactures ground-support equipment including aircraft deicers, manages and leases commercial aircraft and jet engines while supplying aftermarket parts and overhaul services, develops cloud-based digital solutions for aviation businesses, and operates a regional airline in Australia serving 53 destinations. The company serves airlines, airports, governments, and industrial customers across North America and internationally.
Summary from 10-K filed 2026-06-29
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2026 2026-03-31 | FY 2025 2025-03-31 | FY 2024 2024-03-31 | FY 2023 2023-03-31 | FY 2022 2022-03-31 |
|---|---|---|---|---|---|---|
| Reconciliation of revenue | 327 | 292 | 287 | — | — | |
| General and administrative | 81 | 58 | 51 | 43 | 30 | |
| Depreciation and amortization | 12 | 4 | 3 | 4 | 2 | |
| Earnout remeasurement | −666,000 | 435,000 | 0 | — | — | |
| Operating expenses | 345 | 290 | 286 | 252 | 168 | |
| Gain on sale of aircraft on lease | 7 | 0 | — | — | — | |
| Operating (Loss) Income | −11 | 2 | 1 | −4 | 9 | |
| Interest expense | −12 | −8 | −7 | — | — | |
| (Loss) income from equity method investments | −2 | 2 | 2 | 1 | 37,000 | |
| Gain on bargain purchase | 111 | 0 | — | — | — | |
| Other | −193,000 | −209,000 | 8,000 | −471,000 | 1 | |
| Non-operating income (expense) | 97 | −7 | −5 | −7 | 5 | |
| Earnings (Loss) before income taxes | 86 | −5 | −4 | −11 | 13 | |
| Income Tax Expense | 1 | 423,000 | 729,000 | 432,000 | 1 | |
| Net Income (Loss) | 85 | −5 | −5 | −12 | 12 | |
| Net Income Attributable to Non-controlling Interests | −7 | −729,000 | −2 | −510,000 | −1 | |
| Net Income (Loss) Attributable to Air T, Inc. Stockholders | 78 | −6 | −7 | −12 | 11 | |
| Basic (in dollars per share) | 28.85 | −2.23 | −2.42 | −4.32 | 3.79 | |
| Diluted (in dollars per share) | 28.85 | −2.23 | −2.42 | −4.32 | 3.78 | |
| Basic (in shares) | 3 | 3 | 3 | 3 | 3 | |
| Diluted (in shares) | 3 | 3 | 3 | 3 | 3 |
Consolidated Balance Sheet
| Concept | Trend | FY 2026 2026-03-31 | FY 2025 2025-03-31 | FY 2024 2024-03-31 | FY 2023 2023-03-31 | FY 2022 2022-03-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 20 | 6 | 7 | 6 | 6 | |
| Marketable securities | 1 | 422,000 | 531,000 | 0 | 859,000 | |
| Restricted cash | 5 | 575,000 | — | — | — | |
| Restricted investments | 0 | 683,000 | 1 | 2 | 2 | |
| Accounts receivable, net of allowance for doubtful accounts of $1,614 and $1,338 | 40 | 24 | 23 | 27 | 20 | |
| Income tax receivable | 196,000 | 681,000 | 561,000 | 536,000 | 3 | |
| Inventories, net | 77 | 39 | 61 | 71 | 75 | |
| Prepaid expenses | 9 | 3 | 2 | 3 | — | |
| Other current assets | 8 | 5 | 3 | — | — | |
| Total Current Assets | 160 | 79 | 103 | 117 | 128 | |
| Assets on lease or held for lease, net of accumulated depreciation of $60 and $1,451 | 0 | 15 | 252,000 | 83,000 | 15 | |
| Property and equipment, net of accumulated depreciation of $18,571 and $9,240 | 162 | 20 | 21 | 21 | 21 | |
| Intangible assets, net of accumulated amortization of $8,046 and $6,330 | 13 | 10 | 11 | 12 | 13 | |
| "Right-of-use (""ROU"") assets" | 15 | 13 | 11 | 12 | 7 | |
| Equity method investments | 26 | 19 | 17 | 13 | 10 | |
| Goodwill | 12 | 11 | 11 | 11 | 10 | |
| Other assets | 8 | 2 | 4 | 4 | 3 | |
| Total Assets | 409 | 174 | 177 | 190 | 208 | |
| Accounts payable | 37 | 18 | 15 | 10 | 9 | |
| Income tax payable | 687,000 | 0 | — | — | — | |
| Accrued expenses and other (Note 11) | 50 | 17 | 16 | 13 | 13 | |
| Current portion of earnout liability | 198,000 | 430,000 | 0 | — | — | |
| Short-term lease liability | 3 | 2 | 2 | 2 | 1 | |
| Total Current Liabilities | 96 | 48 | 47 | 64 | 31 | |
| Deferred income tax liabilities, net | 3 | 2 | 2 | 2 | 3 | |
| Long-term lease liability | 12 | 12 | 11 | 11 | 7 | |
| Long-term earnout liability | 244,000 | 1 | 0 | — | — | |
| Other non-current liabilities | 2 | 866,000 | 0 | 47,000 | 1 | |
| Total Liabilities | 318 | 168 | 158 | 164 | 171 | |
| Redeemable non-controlling interests | 10 | 7 | 13 | 13 | 11 | |
| Commitments and contingencies (Note 22) | — | — | — | — | — | |
| Preferred stock, $1.00 par value, 4,000,000 and 2,000,000 shares authorized | 0 | 0 | 0 | 0 | 0 | |
| Common stock, $0.25 par value; 4,000,000 shares authorized, 3,030,245 and 3,030,245 shares issued, 2,701,375 and 2,702,639 shares outstanding | 758,000 | 758,000 | 758,000 | 757,000 | 756,000 | |
| Treasury stock, 328,870 shares at $19.56 and 327,606 shares at $19.55 | −6 | −6 | −5 | −4 | −3 | |
| Additional paid-in capital | 1 | 947,000 | 859,000 | 728,000 | 393,000 | |
| Retained earnings | 80 | 2 | 8 | 14 | 27 | |
| Accumulated other comprehensive income (loss) | 4 | −647,000 | −80,000 | 816,000 | −263,000 | |
| Total Air T, Inc. Stockholders' Equity (Deficit) | 80 | −3 | 5 | 12 | 25 | |
| Non-controlling Interests | 1 | 2 | 1 | 1 | 1 | |
| Total Equity (Deficit) | 81 | −2 | 6 | 13 | 26 | |
| Total Liabilities and Equity | 409 | 174 | 177 | 190 | 208 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2026 2026-03-31 | FY 2025 2025-03-31 | FY 2024 2024-03-31 | FY 2023 2023-03-31 | FY 2022 2022-03-31 |
|---|---|---|---|---|---|---|
| Depreciation and amortization | 12 | 4 | 3 | 4 | 2 | |
| Other | 5 | 4 | 1 | 769,000 | 876,000 | |
| Accounts receivable | −3 | −2 | 4 | −6 | −13 | |
| Inventories | −24 | 21 | 9 | 10 | −18 | |
| Accounts payable | 16 | 3 | 5 | 992,000 | 1 | |
| Accrued expenses | 6 | 1 | 2 | −893,000 | −485,000 | |
| Other current assets | −3 | 264,000 | — | — | — | |
| Other | −2 | −464,000 | −3 | 5 | −2 | |
| Net cash (used in) provided by operating activities | −25 | 23 | 17 | 17 | −33 | |
| Investment in unconsolidated entities | −15 | −7 | −5 | −3 | −7 | |
| Distribution from unconsolidated entities | 5 | 6 | 3 | 683,000 | — | |
| Capital expenditures related to property & equipment | −16 | −1 | −1 | −1 | −2 | |
| Capital expenditures related to assets on lease or held for lease | 0 | −15 | 0 | 0 | −28,000 | |
| Proceeds from sale of aircraft on lease | 20 | 0 | — | — | 0 | |
| Loan advances to Bloomia | −1 | −4 | 0 | — | — | |
| Loan advances to other unrelated entity | 9 | 0 | — | — | — | |
| Proceeds from notes receivable - CAM and Bloomia | 3 | 400,000 | — | — | — | |
| Acquisition of businesses, net of cash acquired | −7 | 0 | 0 | −2 | −13 | |
| Other | −495,000 | −163,000 | 18,000 | −111,000 | 364,000 | |
| Net cash used in investing activities | −22 | −20 | −2 | −6 | −33 | |
| Proceeds from lines of credit | 145 | 137 | 124 | 139 | 99 | |
| Payments on lines of credit | −136 | −131 | −142 | −133 | −85 | |
| Proceeds from term loan | 76 | 25 | 25 | 11 | 34 | |
| "Proceeds from issuance of Trust Preferred Securities (""TruPs"")" | 3 | 910,000 | 9 | 0 | 11 | |
| Repurchase of common stock | −28,000 | −1 | −876,000 | — | — | |
| Distribution to non-controlling interest | −4 | −489,000 | — | — | — | |
| Other | −714,000 | 1 | −616,000 | −2 | 3 | |
| Net cash provided by (used in) financing activities | 65 | −5 | −14 | −12 | 59 | |
| Effect of foreign currency exchange rates on cash and cash equivalents | −39,000 | 408,000 | −16,000 | 361,000 | −341,000 | |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH | 19 | −1 | 753,000 | −1 | −8 | |
| Operating cash payments for operating leases | 4 | 2 | 2 | 2 | 2 | |
| Cash paid during the year for income taxes | 900,000 | 983,000 | 917,000 | 1 | 429,000 |
Filings
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is AIR T INC's CIK number?
AIR T INC's SEC CIK number is 0000353184 (353184). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find AIR T INC's SEC filings?
All of AIR T INC's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did AIR T INC last report earnings?
AIR T INC (AIRT) most recently filed an earnings 8-K with the SEC on Jun 29, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0000353184-26-000056). This is AIR T INC's most recent earnings filing of record — not a forecast of its next earnings date.
What is AIR T INC's most recent earnings 8-K?
AIR T INC's latest earnings 8-K (Item 2.02) was filed Jun 29, 2026 under accession 0000353184-26-000056. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View AIR T INC's latest earnings 8-K →
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