Company: AIRTP
Filing Date: 2025-08-12
Form Type: 10-K/A
Source: 0000353184-25-000069
Chunk: 60

Company: AIR T INC
Filing Date: 2025-08-12
Form: 10-K/A
Chunk 60
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Consolidated Adjusted EBITDA for the fiscal year ended March 31, 2025 was $7.4 million, an increase of $1.2 million compared to the prior fiscal year.

Adjusted EBITDA for the overnight air cargo segment decreased by $0.3 million in the current fiscal year, due primarily to lower segment operating income as described above.

Adjusted EBITDA loss for the ground support equipment segment decreased by $0.2 million in the current fiscal year, primarily due to higher sales as described above.

Adjusted EBITDA of the commercial aircraft, engines and parts segment was $9.8 million, an increase of $3.7 million from the prior fiscal year. The increase was primarily driven by higher profit margins on sales as described above.

Adjusted EBITDA of the digital solutions segment decreased by $0.4 million in the current fiscal year, due primarily to higher personnel costs as described above.

Following is a table detailing consolidated non-operating income (expense), net of intercompany during fiscal 2025 and fiscal 2024 (in thousands):

|                                       |     | Year Ended March 31, |   2025 |     |   |   2024 |     | Change |        |
|:--------------------------------------|:----|:---------------------|-------:|:----|:--|-------:|:----|:-------|-------:|
| Interest expense, net                 |     |                      | -8,387 |     |   | -6,916 |     |        | -1,471 |
| Income from equity method investments |     |                      |  1,700 |     |   |  1,689 |     |        |     11 |
| Other                                 |     |                      |   -209 |     |   |      8 |     |        |   -217 |
| Total                                 |     | $                    | -6,896 |     | $ | -5,219 |     | $      | -1,677 |

The Company had a net non-operating loss of $6.9 million for the fiscal year ended March 31, 2025 compared to a net non-operating loss of $5.2 million in the prior fiscal year. The increase in non-operating loss was primarily driven by a $1.5 million increase in interest expense, and $1.2 million related to the recognition of gains and losses from the change in fair value for interest rate swap contracts