Financing Arrangements (Tables)

9 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of Debt

The following table provides certain information about the current financing arrangements of the Company's and its subsidiaries as of December 31, 2020:

(In Thousands)	December 31, 2020		March 31, 2020		Maturity Date	Interest Rate	Unused commitments
Air T Debt
Revolver - MBT	$	9,074	$	—	August 31, 2021	Greater of 2.5% or Prime - 1%	$	7,926
Supplemental Revolver- MBT	—		9,550		June 30, 2020	Greater of 1-month LIBOR + 1.25% and 3%
Term Note A - MBT	7,000		7,750		January 1, 2028	1-month LIBOR + 2%
Term Note B - MBT	3,500		3,875		January 1, 2028	4.50%
Term Note D - MBT	1,489		1,540		January 1, 2028	1-month LIBOR + 2%
Term Note E - MBT	5,308		—		June 25, 2025	Greater of LIBOR + 1.5% or 2.5%
Debt - Trust Preferred Securities	12,878		12,877		June 7, 2049	8.00%
PPP Loan	8,215		—		December 24, 20221	1.00%
Total	47,464		35,592
AirCo 1 Debt
Revolver - MBT	—		8,335		August 31, 20212	Greater of 6.50% or Prime + 2%
Term Loan - PSB	6,200		—		December 11, 2025	1-month LIBOR + 3%
Total	6,200		8,335
Contrail Debt
Revolver - ONB	23,243		21,284		September 5, 2021	1-month LIBOR + 3.45%	16,757
Term Loan A - ONB	3,508		6,285		January 26, 2021	1-month LIBOR + 3.75%
Term Loan E - ONB	4,597		6,320		December 1, 2022	1-month LIBOR + 3.75%
Term Loan F - ONB	—		8,358		May 1, 2025	1-month LIBOR + 3.75%
Term Loan G - ONB	43,598		—		November 24, 2025	1-month LIBOR + 3%
Total	74,946		42,247
Delphax Solutions Debt
Canadian Emergency Business Account Loan	31		—		December 31, 2025	5.00%
Total	31		—
Total Debt	128,641		86,174
Less: Unamortized Debt Issuance Costs	(1,234)		(354)
Total Debt, net	$	127,407	$	85,820

Schedule of Maturities of Long-term Debt

At December 31, 2020, our contractual financing obligations, including payments due by period, are as follows (in thousands):

Due by	Amount
December 31, 2021	$	42,388
December 31, 2022	9,383
December 31, 2023	9,037
December 31, 2024	9,037
December 31, 2025	41,764
Thereafter	17,032
	128,641
Less: Unamortized Debt Issuance Costs	(1,234)
	$	127,407

Schedule of Warrant Fair Value

	Fair Value Measurement as of December 31, 2020
Warrant liability (Level 2)	$	485