Air T Inc. Secures New Term Loan and Revolving Credit Facility with Alerus Financial

Air T Inc. has secured a $6 million term loan from Alerus Financial, replacing a $3.5 million loan from Bridgewater Bank. The loan matures in 2032 with an interest rate of 5.0% or 1.90% plus the CME one-month term SOFR rate. It is secured by assets and shares, with annual principal payments starting in 2026. The agreement includes various covenants and change of control restrictions.

Air T, Inc. Reports Improved Profitability Amid Revenue Decline

Air T, Inc. (AIRT) reported its Q2 fiscal 2026 earnings, revealing a revenue decline of 21% to $64.2 million. However, the company achieved improved profitability with operating income rising to $5.5 million and adjusted EBITDA increasing to $7.9 million. Earnings per share also grew significantly to $1.61. A strategic milestone was reached with Contrail eliminating its bank debt. Air T, Inc. is exploring the acquisition of Rex Regional Airlines to enhance its aviation sector presence and drive growth.

Air T Advances in Regional Express Acquisition

Air T, Inc. announced progress in acquiring Regional Express Holdings Limited, with creditor approval received. The transaction is expected to complete by the end of 2025, pending necessary approvals. Current analyst rating for AIRT stock is a Hold with a $22.00 price target. Spark's AI Analyst rates AIRT as Neutral, citing negative profitability and high leverage as concerns. Air T operates in the aviation sector, focusing on air transportation and related services, with a market cap of $57.73M.

Air T | 8-K: FY2026 Q2 Revenue: USD 64.2 M

Aviation services provider Air T's Q2 revenue falls 21%

Air T reported a 21% year-over-year decline in fiscal Q2 revenue, primarily due to decreased component sales at Contrail. However, operating income rose to $5.5 million, aided by improved segment performance. The company plans to acquire Rex Regional Airlines, pending court approval. Revenue in the Overnight Air Cargo segment fell due to increased parked aircraft, while Ground Support Equipment revenue decreased from fewer deicing truck sales. No specific guidance for future quarters was provided in the press release.