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. reported that board member Travis Swenson resigned as a director and as Chair of the Audit Committee effective March 9, 2026. He stepped down to become Chief Financial Officer of the company’s recently acquired regional airline, Regional Express Holdings Limited (Rex), with his role there beginning immediately.
The company stated that his resignation was not due to any disagreement regarding operations, policies, or practices. Lead Independent Director Raymond Cabillot, already serving on the Audit Committee, has been appointed Audit Committee Chair effective immediately, helping maintain continuity in the company’s board oversight.
Air T, Inc., through majority-owned Crestone Air Partners, entered into a Share Purchase Agreement to acquire all outstanding shares of Arena Aviation Capital for aggregate consideration in excess of $35 million, subject to customary post-closing adjustments.
Upon closing, the combined platform is expected to have approximately 124 aircraft and 17 engines on lease worldwide, with over US$4 billion of assets under management and more than 55 employees across 5 countries. Air T and Crestone are also evaluating a potential strategic transaction that could involve selling a minority equity interest in Crestone or its affiliates, though discussions are preliminary and no definitive agreement has been executed.
Air T, Inc. entered into a new employment agreement with Chief Financial Officer Tracy Kennedy effective February 27, 2026. Kennedy’s base salary is set at $331,000 per year, rising to $360,000 on January 1, 2027 and $397,000 on January 1, 2028.
She is eligible for quarterly incentive bonuses based on a 1–5 performance rating, ranging from 0% of quarterly base salary for a rating of 1 up to 90% or more for a rating of 5, with some discretion at the CEO’s judgment. The agreement keeps her employment at-will, provides standard benefits and four weeks of vacation, and includes non-compete, non-solicitation, non-disparagement and confidentiality covenants.
If she is terminated without cause, Kennedy may receive severance equal to six months of base salary plus one additional month per year of employment, capped at twelve months, subject to signing a general release.
Air T, Inc. files an amended current report to add full financial statements for its newly acquired subsidiary, Regional Express Holdings Limited (Rex Express), and unaudited pro forma information for the combined business.
For the year ended 30 June 2025, Rex Express generated revenue of A$305,187,000 and recorded a total loss after tax of A$114,643,000, including A$22,923,000 from discontinued operations. As of that date, Rex Express reported total assets of A$190,922,000, total liabilities of A$352,247,000, and a deficiency in equity of A$161,325,000.
The statements describe Rex Express’s voluntary administration in 2024–2025 and a Deed of Company Arrangement with Air T, Inc. and creditors. The Commonwealth of Australia restructured a loan, forgiving A$39,750,000 and converting the remaining A$107,800,000 balance to a long-term, interest‑free facility, while providing a separate A$60,000,000 facility. Air T also put in place a A$50,000,000 five‑year loan facility and acquired Rex Express for nominal consideration of A$1. The directors prepare Rex Express’s accounts on a going‑concern basis, supported by these financings and plans to restore its regional fleet.
Air T, Inc. furnished an updated investor presentation outlining its FY26 third-quarter position and strategy. For the nine months ended December 31, 2025, revenue was $206.2M versus $225.5M a year earlier, while adjusted EBITDA rose to $9.5M from $8.6M, reflecting margin improvement despite lower sales.
For the twelve months ended March 31, 2025, revenue reached $291.9M with adjusted EBITDA of $7.4M. The company highlighted a long-term expansion from three to 20 businesses over twelve years, with total debt increasing to $194.2M and total assets to $381.8M.
Air T detailed five operating segments and reported the December 18, 2025 acquisition of substantially all assets and operations of Rex Express Holdings Ltd., marking entry into the Australian regional airline market. It also emphasized growth strategies focused on reinvestment, acquisitions, securities investing, and capital partnerships, alongside extensive risk disclosures.
Air T, Inc. reported weaker results for the fiscal third quarter ended December 31, 2025, while completing a major acquisition in Australia. Quarterly revenues were $71.1 million, down 9% from the prior-year quarter, and the company posted an operating loss of $3.8 million versus operating income of $1.4 million a year earlier. Adjusted EBITDA fell to a profit of $0.2 million from $2.7 million, and earnings per share declined to $(0.91) from $(0.47).
On December 18, 2025, Air T acquired substantially all assets and operations of Regional Express Holdings Ltd. (Rex), an Australian regional airline. The preliminary purchase accounting shows net assets of $106.9 million versus total purchase consideration of $11.0 million, creating a preliminary deferred bargain purchase gain of $95.8 million. The new Regional Airline segment contributed $5.2 million of revenue and a $0.5 million Adjusted EBITDA loss over thirteen days.
Segment performance was mixed. Ground Support Equipment revenue rose to $12.8 million with Adjusted EBITDA of $1.7 million and an order backlog of $12.9 million, up from $6.2 million a year earlier. Commercial Aircraft, Engines and Parts revenue dropped to $18.8 million and swung to an Adjusted EBITDA loss of $0.2 million. Digital Solutions revenue grew to $2.5 million with flat Adjusted EBITDA loss of $0.1 million, while Overnight Air Cargo revenue was steady at $30.6 million but Adjusted EBITDA declined to $1.0 million.
Air T, Inc. reported lower revenue and a quarterly loss while completing a major distressed acquisition. For the quarter ended December 31, 2025, operating revenue was $71.1 million, down from $77.9 million a year earlier, as commercial aircraft, engines and parts sales declined sharply. The company posted a net loss attributable to stockholders of $2.5 million, or $0.91 per share, versus a $1.3 million loss last year, although nine‑month net income to stockholders was modestly positive at $0.3 million.
During the quarter, Air T closed the purchase of Australian regional airline operator Rex Express Holdings Ltd. through its Air T Rex subsidiary. It paid $11.0 million in cash to a creditors trust and assumed Commonwealth facility debt with a $22.2 million fair value against net assets of $106.9 million, creating a preliminary bargain purchase gain of $95.8 million recorded as a deferred credit. Rex contributed $5.2 million of revenue and a $1.5 million net loss post‑acquisition.
Total assets rose to $381.8 million from $173.8 million, driven by aircraft, engines, parts and leased assets from Rex, while total debt increased to $196.9 million from $110.7 million, including new institutional and Commonwealth facilities. Cash, cash equivalents and restricted cash increased to $42.2 million, but operating activities used $25.0 million of cash over nine months, reflecting higher inventories, investment in equity method ventures and working capital needs.
Air T, Inc. is scheduling quarterly cash distributions on its Alpha Income Preferred (AIP) securities (NASDAQ: AIRTP) through late 2027. The AIP will pay $0.50 per share in cash each quarter, reflecting an 8.0% annual rate, with specific distribution and record dates set from February 2026 through November 2027.
AO Partners Group and Nicholas J. Swenson report a 1,335,270‑share beneficial stake, representing 49.4% of Air T, Inc. common stock. The group, including AO Partners Fund, Groveland entities and Glenhurst Co., reports various ownership blocks such as 952,885 shares (35.3%) held through AO Partners Fund and related entities. Based on 2,702,639 shares outstanding as of October 31, 2025, the filing reflects significant influence over the company.
The group states it believes Air T stock is undervalued and that its intent is to influence company policies and assert shareholder rights to maximize share value, which may be deemed a control purpose. The amendment aggregates prior, individually immaterial changes, notes total acquisition costs of $11,600,977, and confirms no Air T share purchases or sales by the reporting persons in the past 60 days.
Air T, Inc. completed the acquisition of all outstanding shares of Regional Express Holdings Limited, a major Australian regional airline group, for cash consideration of $1.00 plus the assumption of approximately A$108,000,000 in liabilities. The deal was approved by order of the Federal Court of Australia and brings seven operating subsidiaries, including Regional Express Pty Ltd. and related training and maintenance businesses, under Air T’s control.
To support the transaction and ongoing operations, Air T’s subsidiary issued an 11.5% Senior Secured Note due December 15, 2031 in the principal amount of $40,000,000 to Honeywell investment funds, with Air T guaranteeing 25% of principal and interest. Proceeds fund a new A$50,000,000 credit facility to Rex Express at a 12.0% interest rate and sit alongside restructured Commonwealth of Australia facilities totaling about A$108,000,000. The structure includes complex intercreditor priorities, excess cash flow sweeps and step‑in rights for the Commonwealth, and management incentive warrants over 19% of the equity of the acquisition vehicle.