Company: AIRTP
Filing Date: 2025-02-12
Form Type: 10-Q
Source: 0000353184-25-000009
Chunk: 49

Company: AIR T INC
Filing Date: 2025-02-12
Form: 10-Q
Item: Item 8
Chunk 49
---
,470 113,459 Unamortized Premiums and Debt Issuance Costs(595)(533)Total Debt, net$122,875 $112,926 At December 31, 2024, our contractual financing obligations, including payments due by period, are as follows (in thousands):Due byAmountDecember 31, 2025$17,519 December 31, 202614,688 December 31, 20278,616 December 31, 20283,807 December 31, 20296,290 Thereafter72,550 123,470 Unamortized Premiums and Debt Issuance Costs(595)$122,875 Interest Expense, net - Net interest expense for the Company and its subsidiaries were as follows for the three and nine months ended December 31, 2024 and 2023:Three Months EndedDecember 31,Nine Months EndedDecember 31,2024202320242023Air T$717 $1,041 $2,670 $2,846 Jet Yard— 19 31 58 Alerus Loan Parties459 — 636 — Contrail602 224 1,293 1,270 AirCo 1113 144 363 437 Wolfe Lake87 89 262 268 Air T Acquisition 22.150 85 200 243 WASI10 (80)32 53 AAM 24-1551 — 1,196 — Other(28)6 (13)14 Total$2,561 $1,528 $6,670 $5,189 

1 The revolver and term notes with MBT were fully paid off with the proceeds from the new credit agreement with Alerus. The Company terminated all commitments under the credit facility with MBT as of August 29, 2024.

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

3 The maturity date for this arrangement was extended to August 28, 2026 as part of an amendment finalized on January 21, 2025 subsequent to the reporting period end date. Refer to Note 18 of Notes to Condensed Consolidated Financial Statements included under Part I, Item 1 of this Report on Form 10-Q. 

4 Includes Air T's guarantee of approximately $1.6 million