v3.26.1
SEGMENT INFORMATION
12 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
Air T's portfolio of businesses are managed on a highly decentralized basis. These businesses are aggregated into operating segments in a manner that reflects how Air T views the business activities.
In fiscal year 2026, the Company introduced a new reportable segment named regional airline. This new segment includes all reportable activity as it relates to the operating business of Rex after its acquisition on December 18, 2025 as discussed in Note 2.
Air T's five 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 U.S. and upper Midwest, and in the Caribbean.
Commercial Aircraft, 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
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. Prior to March 31, 2025, digital solutions operations were reported as part of the central corporate function referred to as Corporate and Other.
Regional AirlineThe regional airline segment's primary operations focus on sustaining and growing essential regional passenger and cargo air connectivity. The segment consists of Regional Express Holdings Pty Ltd, which operates a fleet of Saab 340 aircraft that provide vital connections between Australia's regional centers and capital cities for its customers.

The information that follows shows data of Air T's reportable segments reconciled to amounts reflected in our Consolidated Financial Statements. Intersegment eliminations are included to reconcile segment totals to consolidated amounts.

The cost and expense information presented below is based on the information regularly provided to the CODM. Further, asset information is not included in the information regularly provided to the CODM as they are not a key determining factor in the performance of the Company's reportable segments.

The Company also has a "Corporate and Other" category which includes unallocated Air T holding company costs that are not directly attributable to the ongoing operating activities of our reportable segments in addition to revenues and expenses for non-reportable operating segments.

Segment data is summarized in the following tables (in thousands):
Year ended March 31, 2026
Overnight Air CargoCommercial Aircraft, Engines and PartsGround Support EquipmentDigital SolutionsRegional AirlineTotal
Revenue from external customers$123,696 $86,919 $47,185 $9,081 $55,314 $322,195 
Intersegment revenue4,991 2,990 — 16 — 7,997 
128,687 89,909 47,185 9,097 55,314 330,192 
Reconciliation of revenue
Other revenue15,074 
Elimination of intersegment revenue2(8,176)
Total consolidated revenue$327,090 
Cost of sales:
Cost of sales from external sources104,100 61,579 36,726 3,589 44,878 
Intersegment cost of sales4,992 3,329 — 14 138 
109,092 64,908 36,726 3,603 45,016 
Less:3
General and administrative12,842 25,066 6,209 5,922 15,476 
Gain from sale of aircraft— (7,034)— — — 
Other segment items4564 738 140 851 9,058 
Segment profit (loss)6,189 6,231 4,110 (1,279)(14,236)1,015 
Reconciliation of profit (loss)
Other revenue1
5,074 
Other cost of sales1
(1,935)
Other expenses1
(4,501)
Interest expense(12,040)
Income from equity method investments(1,740)
Gain on bargain purchase111,190 
Other non-operating expense5(193)
Other corporate expenses(12,077)
Elimination of intersegment profits1,227 
Earnings before income taxes$86,020 
Year ended March 31, 2025
Overnight Air CargoCommercial Aircraft, Engines and PartsGround Support EquipmentDigital SolutionsRegional AirlineTotal
Revenue from external customers$124,031 $118,215 $38,940 $7,268 $— $288,454 
Intersegment revenue880 1,197 — — — 2,077 
124,911 119,412 38,940 7,268 — 290,531 
Reconciliation of revenue
Other revenue13,570 
Elimination of intersegment revenue2(2,251)
Total consolidated revenue$291,850 
Cost of sales:
Cost of sales from external sources104,760 84,896 33,994 2,462 — 
Intersegment cost of sales911 1,323 — — — 
105,671 86,219 33,994 2,462 — 
Less:3
General and administrative12,531 24,113 5,888 5,078 — 
Other segment items4489 2,583 268 792 — 
Segment profit (loss)6,220 6,497 (1,210)(1,064)— 10,443 
Reconciliation of profit (loss)
Other revenue1
3,570 
Other cost of sales1
(1,191)
Other expenses1
(3,930)
Interest expense(8,387)
Income from equity method investments1,700 
Other non-operating expense(209)
Other corporate expenses5(7,878)
Elimination of intersegment profits894 
Loss before income taxes$(4,988)
Year ended March 31, 2026
Overnight Air CargoCommercial Aircraft, Engines and PartsGround Support EquipmentDigital SolutionsRegional AirlineTotal Reportable SegmentsCorporate and otherTotal
Depreciation and amortization$564 $1,404 $140 $851 $8,808 $11,767 $573 $12,340 
Capital Expenditures460 580 91 — 14,972 16,103 380 16,483 

Year ended March 31, 2025
Overnight Air CargoCommercial Aircraft, Engines and PartsGround Support EquipmentDigital SolutionsRegional AirlineTotal Reportable SegmentsCorporate and otherTotal
Depreciation and amortization$489 $2,148 $268 $792 $— $3,697 $659 $4,356 
Capital Expenditures418 14,911 217 36 — 15,582 97 15,679