Company: AIRTP
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0000353184-25-000073
Chunk: 24

Company: AIR T INC
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 24
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1,082 5/1/20274.00%Non-recourseTotal5,903 5,880 WASI DebtPromissory Note - Seller's Note280 398 1/1/20266.00%Non-recourseTotal280 398 AAM 24-1 DebtPromissory Notes - Honeywell40,000 30,000 5/31/20358.50%Non-recourseTotal40,000 30,000 

1 Does not include $13.0 million held by wholly-owned subsidiaries of the Company.

2 Includes Air T's guarantee of approximately $1.6 million.

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MAC DebtTerm Loan - Bank of America, N.A.2,242 2,271 2/21/20301-month SOFR + 0.11% + 1.75%Non-recourseTotal2,242 2,271 Total Debt124,413 110,704 Unamortized Premiums and Debt Issuance Costs(571)(379)Total Debt, net$123,842 $110,325 At June 30, 2025, our contractual financing obligations, including payments due by period, are as follows (in thousands):Due byAmountJune 30, 2026$6,080 June 30, 202722,212 June 30, 20284,599 June 30, 20292,736 June 30, 20305,869 Thereafter82,917 124,413 Unamortized Premiums and Debt Issuance Costs(571)$123,842 Interest Expense, net - Net interest expense for the Company and its subsidiaries were as follows for the three months ended June 30, 2025 and 2024:Three Months EndedJune 30,20252024Air T$711 $971 Jet Yard— 18 Alerus Loan Parties371 — Contrail309 358 AirCo 1— 126 Wolfe Lake83 60 Air T Acquisition 22.189 68 WASI5 12 AAM 24-1699 323 MAC38 — Other9 10 Total$2,314 $1,946 Cash paid for interest totaled $2.3 million during the three months ended June 30, 2025.

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14.    Shares Repurchased

On May