Every 10-Q that Air T, Inc. Air T Funding Alpha Income Trust Preferred Securities (AIRTP) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow AIRTP and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full AIRTP filings page.
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.
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. reported consolidated operating revenue of $70.87 million for the three months ended June 30, 2025, up from $66.41 million a year earlier, with consolidated segment revenue rising $4.1 million. Revenue growth was led by Ground Support Equipment, which increased roughly $7.7 million, while the Commercial Aircraft, Engines and Parts segment declined about $4.3 million.
Operating income was a modest $0.4 million versus an operating loss the prior year, but the company reported a net loss attributable to Air T stockholders of $1.636 million (basic loss per share $0.61). Interest expense was $2.314 million and equity method results swung to a $0.02 million loss versus prior period income. Cash and cash equivalents rose to $14.46 million and total assets were $190.04 million against total liabilities of $184.75 million, leaving a stockholders' deficit of $4.63 million.
Notable transactions include the May 15, 2025 acquisition of Royal Aircraft Services for $1.2 million and a subsequent July 15, 2025 sale of two Airbus aircraft for over $18.0 million.