SEGMENT INFORMATION (Tables)

Air T's four reportable segments are as follows:


Reportable Segment						Principal Business Activities
Overnight Air Cargo						Overnight air cargo primarily operates under its relationship with FedEx spanning over 40 years and represent two of eight companies in the U.S. that have North American feeder airlines under contract with FedEx. MAC and CSA operate and maintain Cessna Caravan, Sky Courier, ATR-42 and ATR-72 aircraft that fly daily small-package cargo routes throughout the eastern United States and upper Midwest, and in the Caribbean.
Commercial Aircraft, Engines and Parts (formerly known as Commercial Jet Engines and Parts)						The Commercial aircraft, engines and parts segment manages and leases aviation assets; supplies surplus and aftermarket commercial jet engine components; provides commercial aircraft disassembly/part-out services; commercial aircraft parts sales; procurement services and overhaul and repair services to airlines
Ground Support Equipment (formerly known as Ground Support Sales)						Ground support equipment manufactures and provides mobile deicers and other specialized equipment products to passenger and cargo airlines, airports, the military and industrial customers.
Digital Solutions						Digital solutions develops and provides digital aviation and other business services to customers within the aviation industry to generate recurring subscription revenues. Digital solutions has historically been reported as part of the central corporate function referred to as Corporate and Other.

Segment data is summarized in the following tables (in thousands):


	Year ended March 31, 2025
	Overnight Air Cargo		Commercial Aircraft, Engines and Parts		Ground Support Equipment		Digital Solutions		Total
Revenue from external customers	$	124,031	$	118,215	$	38,940	$	7,268	$	288,454
Intersegment revenue	880		1,197		—		—		2,077
	124,911		119,412		38,940		7,268		290,531
Reconciliation of revenue
Other revenue1									3,570
Elimination of intersegment revenue2									(2,251)
Total consolidated revenue									$	291,850
Cost of sales:
Cost of sales from external sources	$	104,760	$	84,896	$	33,994	$	2,462
Intersegment cost of sales	911		1,323		—		—
	105,671		86,219		33,994		2,462
Less:3
General and administrative	$	12,531	$	24,113	$	5,888	$	5,078
Other segment items4	489		2,583		268		792
Segment profit (loss)	6,220		6,497		(1,210)		(1,064)		$	10,443

Reconciliation of profit (loss)
Other revenue1									3,570
Other cost of sales1									(1,191)
Other expenses1									(3,930)
Interest expense									(8,387)
Income from equity method investments									1,700
Other non-operating expense									(209)
Other corporate expenses5									(7,878)
Elimination of intersegment profits									894
Loss before income taxes									$	(4,988)


	Year ended March 31, 2024
	Overnight Air Cargo		Commercial Aircraft, Engines and Parts		Ground Support Equipment		Digital Solutions		Total
Revenue from external customers	$	115,546	$	125,535	$	37,168	$	5,783	$	284,032
Intersegment revenue	126		2,150		—		—		2,276
	115,672		127,685		37,168		5,783		286,308
Reconciliation of revenue
Other revenue1									3,957
Elimination of intersegment revenue2									(3,431)
Total consolidated revenue									$	286,834
Cost of sales:
Cost of sales from external sources	$	97,690	$	99,222	$	31,834	$	1,710
Intersegment cost of sales	137		2,025		—		1
	97,827		101,247		31,834		1,711
Less:3
General and administrative	$	10,734	$	21,792	$	6,743	$	3,929
Other segment items4	366		756		144		804
Segment profit (loss)	6,745		3,890		(1,553)		(661)		$	8,421

Reconciliation of profit (loss)
Other revenue1									3,957
Other cost of sales1									(1,202)
Other expenses1									(4,214)
Interest expense									(6,916)
Income from equity method investments									1,689
Other non-operating expense									8
Other corporate expenses5									(6,162)
Elimination of intersegment profits									464
Loss before income taxes									$	(3,955)


	Year ended March 31, 2025
	Overnight Air Cargo		Commercial Aircraft, Engines and Parts		Ground Support Equipment		Digital Solutions		Total Reportable Segments		Corporate and other		Total Consolidated
Depreciation and amortization	$	489	$	2,148	$	268	$	792	$	3,697	$	659	$	4,356
Capital Expenditures	418		14,911		217		36		15,582		97		15,679


	Year ended March 31, 2024
	Overnight Air Cargo		Commercial Aircraft, Engines and Parts		Ground Support Equipment		Digital Solutions		Total Reportable Segments		Corporate and other		Total Consolidated
Depreciation and amortization	$	366	$	756	$	144	$	804	$	2,070	$	728	$	2,798
Capital Expenditures	535		131		238		—		904		172		1,076