Welcome to our dedicated page for Air T SEC filings (Ticker: AIRTP), 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.
The SEC filings page for Air T Funding Alpha Income Trust Preferred Securities (NASDAQ: AIRTP) provides access to regulatory documents filed by Air T, Inc. and related entities that are relevant to the Alpha Income Preferred trust preferred securities. These filings include current reports on Form 8-K, definitive proxy statements on Schedule 14A, registration statements and prospectus materials referenced in company announcements about AIRTP and associated warrants.
Through these filings, investors can review how Air T, Inc. describes the terms of the Alpha Income Preferred securities, including distribution rates, record and payment dates, and the structure of warrants (AIRTW) that were exercisable for fractional interests in AIRTP. Proxy statements also detail proposals affecting preferred equity, such as amendments to increase the number of authorized preferred shares, along with the results of stockholder votes on these matters.
Filings on Form 8-K highlight material events that may be important for AIRTP holders, such as financing arrangements involving Air T’s aviation-related subsidiaries, changes to credit facilities, and updates to investor presentations. These documents can show how Air T, Inc. manages its portfolio of overnight air cargo, aviation ground support equipment manufacturing, and commercial aircraft asset management and logistics businesses, and how those activities interact with its capital structure.
On Stock Titan, these SEC filings are supplemented with AI-powered summaries that explain the key points of lengthy documents in plain language. Investors can quickly understand the implications of annual reports on Form 10-K, quarterly updates on Form 10-Q, and current reports on Form 8-K without reading every page. The platform also surfaces real-time updates from EDGAR so new filings related to Air T, Inc. and AIRTP appear promptly, and it highlights information about preferred stock authorization, governance decisions, and other items that may affect the Alpha Income Preferred securities.
By using this page, investors can navigate complex SEC documents more efficiently, compare multiple filings over time, and focus on the sections that matter most for evaluating AIRTP and its relationship to Air T, Inc.’s broader financial position and strategy.
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.
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. has amended its financing arrangements with Alerus Financial, updating both its revolving credit facility and a term loan. The revolving credit commitment was increased to $20,000,000, the interest rate was reduced to 1‑month SOFR plus 1.90%, and the maturity date was extended to August 28, 2027. Financial covenants will now be tested semi‑annually in December and March, and the borrowers must provide quarterly financial statements. Term Note A was amended and restated in the principal amount of $9,188,571.40, with a revised rate of 1‑month SOFR plus 2.00% and a swap fixing the rate at 5.62% through August 15, 2029. Air T reaffirmed its guarantees and entered into an unlimited continuing guaranty related to the swap.
Air T, Inc. reported the results of its 2025 annual stockholder meeting. Of 2,702,639 common shares entitled to vote, 2,474,006 shares, or 91.54%, were represented, indicating strong participation.
Stockholders elected all nominated directors, with each receiving over 2,033,000 votes in favor and similar broker non-votes of 436,436. An advisory vote approved the compensation of named executive officers with 2,034,434 votes for, 2,986 against, and 150 abstentions. Stockholders also approved an amendment to the Restated Certificate of Incorporation to increase the number of authorized preferred shares, with 1,863,161 votes for and 174,151 against. In an advisory vote on the frequency of executive compensation votes, most shares favored an annual vote, and Deloitte & Touche LLP was ratified as the independent registered public accounting firm for 2025 with 2,472,476 votes for and 1,530 against.
Air T Funding is offering up to 320,000 Alpha Income Preferred Securities at a liquidation value of $25.00 per Capital Security, representing an aggregate offering price up to $8,000,000 through an at-the-market facility with Ascendiant Capital Markets as sales agent. Sales may occur on NASDAQ or in negotiated transactions; the sales agent fee is 3.0% of gross proceeds. As of July 31, 2025, 2,130,147 Capital Securities are outstanding (including 520,000 held by subsidiaries) and 58,173 shares were sold in the 12 months ended July 31, 2025. The Capital Securities pay cumulative quarterly distributions at an annual rate of $2.00 per share (8.0% of $25), payable quarterly and defeasible for up to 20 consecutive quarters. The securities trade on NASDAQ under AIRTP, with the last reported sales price of $18.45 on August 8, 2025.