Welcome to our dedicated page for AIR T SEC filings (Ticker: AIRT), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Air T, Inc. SEC filings document material events, operating results, capital-structure disclosures, and governance matters for its aviation portfolio. Form 8-K reports include quarterly results releases, Regulation FD investor presentations, trust preferred securities matters, and notices related to common stock and cumulative capital securities.
The filings also record the completed Rex acquisition through amended 8-K disclosure, including acquired-business financial statements and unaudited pro forma financial information required by Item 9.01. Governance and compensation filings cover board and audit committee changes, executive employment arrangements, and other corporate actions affecting the company's public-company reporting record.
AIR T INC (AIRT) amended its senior credit facility with Alerus Financial through Amendment No. 7 to the Alerus Credit Agreement, expanding liquidity and extending maturities. The revolving credit commitment increases from $20.0 million to $25.0 million, with the revolving termination date set at August 27, 2029.
The borrowing base now includes 85% of eligible investment-grade accounts, 80% of other eligible accounts, 50% of eligible inventory and 40% of eligible work-in-process inventory, with inventory and work-in-process together capped at 75% of the borrowing base. An accordion option permits up to an additional $3.5 million revolving commitment for one 120-day period per fiscal year, subject to a 0.50% origination fee and covenant compliance.
The subsidiaries issued an Amended and Restated Revolving Credit Note for $25.0 million maturing August 27, 2029, and a Consolidated Term Note for $11.46 million with scheduled principal payments through August 15, 2031 and final maturity on August 27, 2031. Interest is based on CME one-month term SOFR plus a leverage-based margin initially at 2.50%, with a maximum permitted leverage ratio of 3.00 to 1.00, a 0.25% unused commitment fee, and a 5.00 percentage point default rate step-up.
AIR T, INC. (AIRT) reported the results of its 2026 Annual Meeting of Stockholders held on August 25, 2026. Of 2,696,509 common shares outstanding and entitled to vote, 2,483,550 shares were represented, a turnout of 92.1%.
Stockholders elected directors Raymond E. Cabillot, William R. Foudray, Gary S. Kohler, Peter McClung, and Nicholas J. Swenson, with each nominee receiving over 2.17 million votes for and minimal votes withheld, plus 299,695 broker non-votes. An advisory vote approved the compensation of named executive officers with 2,180,386 votes for, 2,842 against, 625 withheld, and 299,695 broker non-votes. Stockholders also ratified the appointment of Deloitte & Touche LLP as independent registered public accounting firm with 2,481,936 votes for, 1,596 against, and 17 abstentions.
AIR T, INC. (AIRT) filed an amended current report to correct the auditor’s report attached to prior disclosures about its subsidiary Crestone Air Partners, LLC’s acquisition of Arena Aviation Partners B.V. completed on June 10, 2026. The only change is that Baran Audit & Assurance Services B.V. now explicitly states its audits of Arena’s 2024 and 2025 IFRS financial statements were conducted in accordance with U.S. GAAS. The underlying Arena financial statements and previously filed unaudited pro forma financial information for the combined business remain unchanged.
Arena’s audited consolidated financials show 2025 revenue of EUR 10,094,448 and profit of EUR 692,072, compared with 2024 revenue of EUR 25,883,581 and profit of EUR 9,540,040. As of December 31, 2025, Arena reports total assets of EUR 5,495,763, negative equity of EUR 9,373,000 and loans from related parties of EUR 10,746,131, indicating the business is funded largely through subordinated shareholder loans.
AIR T INC (AIRT) filed an amendment to provide detailed financial statements and unaudited pro forma information for the acquisition of Arena Aviation Partners B.V. through its consolidated subsidiary Crestone Air Partners, LLC (CAP). CAP acquired 100% of Arena on June 10, 2026 for total consideration of $33.9 million, including $21.7 million cash and contingent consideration recorded at an estimated fair value of $12.2 million.
The preliminary purchase price allocation assigns $29.7 million to identifiable intangible assets and $8.2 million to goodwill, with total assets of $42.7 million and liabilities of $8.8 million. For the year ended March 31, 2026, the pro forma combined revenues are $338.5 million and net income attributable to Air T stockholders is $72.6 million. For the three months ended June 30, 2026, pro forma combined revenues are $120.0 million and the net loss attributable to Air T stockholders is $14.6 million. The pro forma data incorporate transaction accounting adjustments, new intangible amortization, financing changes, and non‑controlling interest allocations.
Air T, Inc. reported strong top-line expansion but weaker profitability for the fiscal 2027 first quarter ended June 30, 2026. Revenue was $115.5 million, up 63% year over year, driven largely by the newly consolidated Regional Airline segment and growth in several aviation businesses. The company recorded an operating loss of $12.8 million, versus operating income of $0.8 million a year earlier, and Adjusted EBITDA of $0.8 million, down 45% from $1.5 million.
On a trailing twelve‑month basis, revenue reached $371.7 million, up 25%, while operating results deteriorated to a $24.9 million loss compared with $3.3 million of income in the prior period; Adjusted EBITDA rose 19% to $9.5 million. The Regional Airline business (Rex) generated $55.9 million of quarterly revenue and $1.9 million of Adjusted EBITDA but posted a $7.7 million operating loss, largely due to $8.8 million of non‑cash depreciation and amortization from purchase accounting.
Crestone Air Partners completed the $33.9 million acquisition of Arena Aviation Capital, creating a new Aviation Leasing and Asset Management segment. The combined platform manages $3.0 billion of assets and has $0.6 billion committed under LOI, with 124 aircraft and 17 engines under oversight. Air T ended the quarter with $21.7 million in cash and restricted cash and $42.4 million in available credit, and has repurchased 840,855 shares since 2013, representing 31% of shares outstanding.
Air T, Inc. reported fiscal first-quarter 2027 results for the quarter ended June 30, 2026. Revenue was $115.5 million, up $44.6 million or 63% year-over-year, driven largely by the first full quarter from the December 2025 acquisition of Regional Express Holdings Pty Ltd (“Rex”), which contributed $55.9 million.
The company recorded an operating loss of $12.8 million, versus operating income of $0.8 million a year earlier, and a loss before income taxes of $15.0 million. Adjusted EBITDA declined to $0.8 million from $1.5 million. Net loss per share widened to $5.86 from $0.61. Segment results were mixed: Overnight Air Cargo Adjusted EBITDA rose to $2.1 million and Digital Solutions to $0.4 million, while Commercial Aircraft, Engines and Parts and Ground Support Equipment moved to Adjusted EBITDA losses. The Ground Support Equipment segment’s revenue fell to $3.7 million from $15.1 million, though backlog increased to $9.0 million. The investment balance in equity method investees increased to $27.9 million from $19.9 million, and a new Aviation Leasing and Asset Management segment reported early-stage revenues and an Adjusted EBITDA loss.
Air T, Inc. reported sharply higher scale but moved to a loss for the quarter ended June 30, 2026. Operating revenue rose to about $115.5 million from $70.9 million, driven by the new regional airline segment (Rex), contributions from aviation leasing and asset management, and growth in digital solutions, partly offset by a steep decline in ground support equipment sales.
The company recorded an operating loss of about $12.8 million and a net loss attributable to stockholders of roughly $15.8 million, versus a small profit a year earlier, as fuel costs, higher depreciation and amortization (about $9.9 million), and interest expense of $5.7 million weighed on results. Cash used in operations was about $2.8 million, and heavy capital expenditures of roughly $21.3 million plus the $33.9 million Arena Aviation Partners acquisition helped lift total assets to $469.1 million and total debt to about $248.8 million. The Arena deal added an aviation leasing and asset management segment, significant new customer relationship intangibles, and approximately $8.2 million of goodwill.
AO Partners Fund, AO Partners LLC, Groveland Capital, Groveland DST, Glenhurst Co. and Nicholas J. Swenson report significant holdings of Air T, Inc. common stock in an amended Schedule 13D.
Swenson beneficially owns 1,303,339 shares, or 48.3% of Air T’s 2,702,639 shares outstanding as of October 31, 2025, through a mix of direct ownership and affiliated entities. AO Partners Fund and AO Partners LLC each report 920,954 shares (34.2%), Groveland DST holds 233,098 shares (8.6%), Glenhurst Co. 94,438 shares (3.5%) and Groveland Capital 51,099 shares (1.9%).
The group states it acquired its position using approximately $11,600,977 of capital, believes Air T’s stock is undervalued, and indicates an intent to influence the company’s policies and assert shareholder rights, which may be deemed a control purpose. The reporting persons indicate no purchases or sales of Air T shares in the past sixty days.
Air T Funding, a finance subsidiary of Air T, Inc., is offering up to 320,000 Alpha Income Trust Preferred Securities ("Capital Securities") with a $25 liquidation amount per share, for aggregate gross proceeds of up to $8,000,000, in an "at the market" program through Ascendiant Capital Markets, LLC. The trust will invest all proceeds in 8.0% Junior Subordinated Debentures of Air T, which mature on June 7, 2049, and Air T fully and unconditionally guarantees distributions and redemption payments to the extent of funds in the trust. The Capital Securities pay cumulative quarterly cash distributions of $2.00 per year per share (8.0% of $25), are redeemable at par plus accrued distributions on or after June 7, 2024, and may also be redeemed upon a Tax Event or Investment Company Event. The securities are listed on NASDAQ under the symbol AIRTP; as of July 6, 2026, the last reported sales price was $19.63. Sales, combined with any separate Air T common stock ATM program, are limited by General Instruction I.B.6 of Form S-3, with one‑third of Air T’s non‑affiliate equity market value (about $9.0 million) capping primary offerings in any 12‑month period.