Company: AIRTP
Filing Date: 2025-08-12
Form Type: 10-K/A
Source: 0000353184-25-000069
Chunk: 4

Company: AIR T INC
Filing Date: 2025-08-12
Form: 10-K/A
Chunk 4
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; commercial aircraft parts sales; procurement services and overhaul and repair services to airlines and;

• Digital solutions, which develops and provides digital aviation and other business services to customers within the aviation industry to generate recurring subscription revenues.

The Company additionally has a central corporate function that acts as the capital allocator and resource for other consolidated businesses, referred to as Corporate and other. Further, Corporate and other also comprises insignificant businesses and business interests.

Effective as of the fourth quarter of fiscal year 2025, we renamed our ground equipment sales segment to ground support equipment and renamed our commercial jet engines and parts segment to commercial aircraft, engines and parts to better align the descriptions of the segments with their activities.

Additionally, we have elected to separately disclose the digital solutions segment to better align our financial statement presentation with a key long-term growth area for the Company. Digital solutions was previously classified as part of insignificant business activities. As a result of this change, prior period segment information has been recast to conform to our current presentation in our financial statements and related notes included Item 8 of this report.

Each reportable segment has separate management teams and infrastructures that offer different products and services. We evaluate the performance of our reportable segments based on operating income (loss) and Adjusted EBITDA.

Certain financial data with respect to the Company’s geographic areas and segments is set forth in Note 18 and Note 19 of Notes to Consolidated Financial Statements included under Part II, Item 8 of this report.

Air T was incorporated under the laws of the State of Delaware in 1980. The businesses and their principal legal entities that comprise of the activities of Air T are as follows:

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| Legal Entity                                                                           |     | Principal Place of Business |
| Air T, Inc.                                                                            |     | Charlotte, North Carolina   |
| Mountain Air Cargo, Inc. (“MAC”)                                                       |     | Denver, North Carolina      |
| CSA Air, Inc. (“CSA”)                                                                  |     | Iron Mountain, Michigan     |
| Global Ground Support, LLC (“GGS”)                                                     |     | Olathe, Kansas              |
| Delphax Technologies, Inc (“Delphax”)                                                  |     | Minneapolis, Minnesota      |
| Delphax Solutions, Inc. (“DSI”)                                                        |     | Mississauga, Canada         |
| Contrail Aviation Support, LLC (“Contrail”)                                            |     | Verona, Wisconsin           |
| AirCo, LLC, AirCo 1, LLC, AirCo