FINANCING ARRANGEMENTS (Tables)

12 Months Ended

Mar. 31, 2023

The following table provides certain information about the current financing arrangements of the Company's and its subsidiaries as of March 31, 2023 and 2022:


(In Thousands)	March 31, 2023		March 31, 2022		Maturity Date	Interest Rate	Unused commitments
Air T Debt
Revolver - MBT	$	8,742	$	10,969	8/31/20232	Greater of 2.50% or Prime - 1.00%	$	8,258
Overline Note - MBT	—		—		3/31/20233	Greater of 2.50% or Prime + 0.50%
Term Note A - MBT	7,762		8,542		8/31/2031	3.42%
Term Note B - MBT	2,740		3,014		8/31/2031	3.42%
Term Note D - MBT	1,338		1,405		1/1/2028	1-month LIBOR + 2.00%
Term Note E - MBT	800		2,316		6/25/2025	Greater of LIBOR + 1.50% or 2.50%
Term Note F - MBT	983		—		1/31/2028	Greater of 6.00% or Prime + 1.00%
Promissory Note - CCI	—		—		12/30/2022	10.00%
Debt - Trust Preferred Securities	25,598		25,567		6/7/2049	8.00%
Total	47,963		51,813

AirCo 1 Debt
Term Loan - Park State Bank ("PSB")	6,393		6,393		12/11/2025	3-month LIBOR + 3.00%4
Total	6,393		6,393

Jet Yard Debt
Term Loan - MBT	1,844		1,943		8/31/2031	4.14%
Total	1,844		1,943

Contrail Debt
Revolver - ONB	12,441		3,843		9/5/2023	1-month LIBOR + 3.45%5	12,559
Term Loan G - ONB	38,180		44,918		11/24/2025	1-month LIBOR + 3.00%6
Term Loan H - ONB	—		8,698		8/18/2023	Wall Street Journal (WSJ) Prime Rate + 0.75%
Total	50,621		57,459

Delphax Solutions Debt
Canadian Emergency Business Account Loan	30		32		12/31/2025	5.00%
Total	30		32

Wolfe Lake Debt
Term Loan - Bridgewater	9,586		9,837		12/2/2031	3.65%
Total	9,586		9,837

Air T Acquisition 22.1
Term Loan - Bridgewater	4,500		5,000		2/8/2027	4.00%
Term Loan A - ING	2,610		3,341		2/1/2027	3.50%
Term Loan B - ING	1,088		1,114		5/1/2027	4.00%
Total	8,198		9,455

WASI Debt
Promissory Note - Seller's Note	1,279		—		1/1/2026	6.00%
Total	1,279		—

Total Debt	125,914		136,932

Unamortized Debt Issuance Costs	(829)		(1,124)
Total Debt, net	$	125,085	$	135,808

Schedule of Maturities of Long-term Debt

At March 31, 2023, our contractual financing obligations, including payments due by period, are as follows (in thousands):


Fiscal year ended	Amount
2024	$	38,736
2025	10,878
2026	27,034
2027	5,538
2028	4,016
Thereafter	39,712
	125,914
Unamortized Debt Issuance Costs	(829)
	$	125,085

Schedule of Interest Income and Interest Expense Disclosure

The components of net interest expense during the years ended March 31, 2023 and March 31, 2022 are as follows (in thousands):


	March 31, 2023		March 31, 2022
Contractual interest	$	7,932	$	4,808
Amortization of deferred financing costs	331		367
Interest income	(328)		(227)
Total	$	7,935	$	4,948