AIR T (AIRT) Company Report

AIR T, INC. successfully closed its acquisition of Regional Express Holdings on December 17, 2025.
The acquisition involved a $50,000,000 Syndicated Loan Note Subscription Agreement, with Air T Lending 25.1, LLC as Facility Agent and Original Lender, carrying an annual interest rate of 12%.
Additionally, AIR T ACQUISITION 25.1, LLC issued a $40,000,000.00 Senior Secured Note to Honeywell Common Investment Fund and Honeywell International Inc. Master Retirement Trust on December 15, 2025, at an annual interest rate of 11.5%.
Required financial statements for the Rex Companies and pro forma financial statements related to the acquisition are scheduled to be filed by March 2, 2026.

Dec 18, 2025, 9:43 PM

GA Telesis Engine Services Expands Asia Pacific Operations

AIRT

New Projects/Investments

Revenue Acceleration/Inflection

GA Telesis Engine Services (GATES) has secured Approved Maintenance Organization (AMO) certification from the Republic of Korea's Ministry of Land, Infrastructure, and Transport for CFM56-5B, CFM56-7B, and CF6-80C2 engine models. This allows GATES to perform engine overhaul services for South Korean carriers.
The South Korean AMO approval establishes GATES as the first meaningful independent MRO alternative in a segment previously dominated by Original Equipment Manufacturer (OEM) affiliated shops, aiming to increase competitive pressure and deliver cost advantages for airlines.
GATES has also been awarded an engine maintenance agreement with MIAT Mongolian Airlines for the overhaul of its CFM56-7B engines, which accelerates the company's momentum across the Asia Pacific region.

Dec 18, 2025, 3:00 PM

AIR T INC Subsidiaries Secure New Financing Agreements

AIRT

Debt Issuance

New Projects/Investments

On November 24, 2025, AIR T INC's subsidiary, Air T Acquisition 22.1, LLC, secured a $6,000,000 term loan from Alerus Financial, National Association, primarily to repay a $3,500,000 loan from Bridgewater Bank.
This term loan has a maturity date of November 24, 2032, an interest rate of the greater of 5.0% or 1.90% plus the CME one-month term SOFR rate, and requires annual principal payments of $857,142.86 commencing September 2026.
Additionally, on November 24, 2025, Contrail Aviation Services, LLC and Contrail Aviation Leasing, LLC, also subsidiaries of AIR T INC, obtained a $15,000,000 revolving loan facility from Alerus Financial for engine purchases and working capital.
The revolving loan carries an interest rate of 1-month SOFR plus 3.11%, matures on November 24, 2027, and is secured by a payment guaranty from Air T, Inc. for up to $2,000,000.

Dec 1, 2025, 9:47 PM

AIR T, INC. Reports Q2 FY26 Financials and Strategic Updates

AIRT

Earnings

Share Buyback

New Projects/Investments

AIR T, INC. reported $135.0 million in revenues and $9.3 million in Adjusted EBITDA for the six-month period ended September 30, 2025.
The company's shares outstanding have declined by 23.2% since September 30, 2013, from 3.7 million to 2.7 million, and its treasury stock was $6.4 million as of September 30, 2025.
On July 15, 2025, CASP, a 95% owned subsidiary, completed the sale of two Airbus A321-111 aircraft for a total contracted sales price exceeding $25.0 million, with net closing proceeds of $19.9 million.
AIR T, INC. is pursuing four growth strategies: investing in current high-performing businesses, acquiring new cash-flow generating businesses, identifying marketable securities or alternative assets, and creating unique investment products with outside capital partners.

Nov 12, 2025, 10:26 PM

Air T, Inc. Reports Second Quarter Fiscal 2026 Results

AIRT

Earnings

M&A

Demand Weakening

For the second fiscal quarter ended September 30, 2025, Air T, Inc. reported revenues of $64.2 million, a 21% decrease year-over-year, while operating income increased to $5.5 million and earnings per share rose to $1.61.
Adjusted EBITDA profit grew to $7.9 million for the quarter ended September 30, 2025, up from $5.0 million in the prior year's comparable quarter.
Contrail, a business within the Commercial Aircraft, Engines and Parts segment, has eliminated all of its bank debt and held $6.7 million in cash and cash equivalents as of September 30, 2025.
The company anticipates closing the acquisition of Rex Regional Airlines in December, pending court approval.

Nov 12, 2025, 10:24 PM

AIR T, INC. enters agreement to acquire Regional Express Holdings Limited

AIRT

M&A

New Projects/Investments

Air T, Inc. (NASDAQ:AIRT) has entered into a Sale and Implementation Deed (SID) to acquire Regional Express Holdings Limited (Rex), a prominent regional airline in Australia.
The acquisition is anticipated to close by year-end 2025, contingent on obtaining creditor, court, and other required approvals.
As part of the acquisition, Air T will restructure Rex's financing arrangements with the Commonwealth of Australia and intends to fund Rex's engine renewal program to restore its fleet to service.