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CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating Revenues:    
Revenue $ 286,834 $ 247,323
Operating Expenses:    
General and administrative 51,096 42,844
Depreciation and amortization 2,798 4,162
Inventory write-down 1,195 7,324
Impairment of long-lived assets 0 516
Loss on sale of property and equipment 18 8
Operating expenses 285,570 251,730
Operating Income (Loss) 1,264 (4,407)
Non-operating (Expense) Income:    
Interest expense, net (6,916) (7,935)
Income from equity method investments 1,689 1,460
Other 8 (471)
Non-operating income (expense) (5,219) (6,946)
Loss before income taxes (3,955) (11,353)
Income Tax Expense 729 432
Net Loss (4,684) (11,785)
Net Income Attributable to Non-controlling Interests (2,135) (510)
Net Loss Attributable to Air T, Inc. Stockholders $ (6,819) $ (12,295)
Loss per share (Note 21)    
Basic (in dollars per share) $ (2.42) $ (4.32)
Diluted (in dollars per share) $ (2.42) $ (4.32)
Weighted Average Shares Outstanding:    
Basic (in shares) 2,816 2,847
Diluted (in shares) 2,816 2,847
Overnight air cargo    
Operating Revenues:    
Revenue $ 115,546 $ 90,543
Operating Expenses:    
Cost of revenue 97,690 79,720
Depreciation and amortization 366 115
Operating Income (Loss) 6,765 4,047
Ground equipment sales    
Operating Revenues:    
Revenue 37,168 48,485
Operating Expenses:    
Cost of revenue 31,834 39,328
Depreciation and amortization 144 164
Operating Income (Loss) (1,553) 3,141
Commercial jet engines and parts    
Operating Revenues:    
Revenue 125,535 101,737
Operating Expenses:    
Cost of revenue 98,027 75,288
Depreciation and amortization 756 2,382
Operating Income (Loss) 4,169 (957)
Corporate and other    
Operating Revenues:    
Revenue 8,585 6,558
Operating Expenses:    
Cost of revenue 2,912 2,540
Depreciation and amortization 1,532 1,501
Operating Income (Loss) $ (8,117) $ (10,638)