Company: AIRTP
Filing Date: 2025-06-27
Form Type: 10-K
Source: 0000353184-25-000044
Chunk: 329

Company: AIR T INC
Filing Date: 2025-06-27
Form: 10-K
Item: Item 8
Chunk 329
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140)— 16 (6,124)Declared distributions to non-controlling interests— — — — — — — (98)(98)Repurchase of common stock— — 71 (1,445)— — — — (1,445)Stock option forfeiture (Note 14)— — — — (54)— — — (54)Stock compensation expense— — — — 142 — — — 142 Foreign currency translation gain— — — — — — 407 — 407 Redemption of non-controlling interest— — — — — 78 146 — 224 Reclassification of interest rate swaps into earnings— — — — — — (1,351)— (1,351)Initial consolidation of CASP, LLC— — — — — — — 730 730 Allocation of comprehensive income from unconsolidated investments— — — — — — (3)— (3)Allocation of comprehensive income to redeemable non-controlling interests— — — — — — 234 — 234 Balance, March 31, 20253,030 $758 328 $(6,404)$947 $2,130 $(647)$1,698 $(1,518)

*Excludes amount attributable to redeemable non-controlling interest in Contrail and Shanwick.

See notes to consolidated financial statements.

52

AIR T, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

YEARS ENDED MARCH 31, 2025 AND 2024

Air T, Inc. (the “Company,” “Air T,” “we” or “us” or “our”) is a holding company with a portfolio of operating businesses and financial assets. Our goal is to prudently and strategically diversify Air T’s earnings power, compounding its free-cash-flow per share over time. 

We currently operate in four reportable segments:

•Overnight air cargo, which operates in the air express delivery services industry;

•Ground support equipment, which manufactures and provides mobile deicers and other specialized equipment products to passenger and cargo airlines, airports, the military and industrial customers;

•Commercial aircraft, engines