FINANCING ARRANGEMENTS (Tables)

12 Months Ended

Mar. 31, 2024

The following table provides certain information about the current financing arrangements of the Company's and its subsidiaries as of March 31, 2024 and 2023:


(In Thousands)	March 31, 2024		March 31, 2023		Maturity Date	Interest Rate	Unused commitments as of March 31, 2024
Air T Debt
Revolver - MBT	$	—	$	8,742	8/31/2024	SOFR + range of 2.25% - 3.25%	$	17,000
Term Note A - MBT	6,955		7,762		8/31/2031	3.42%
Term Note B - MBT	2,456		2,740		8/31/2031	3.42%
Term Note D - MBT	1,271		1,338		1/1/2028	1-month LIBOR + 2.00%
Term Note E - MBT	—		800		6/25/2025	Greater of LIBOR + 1.50% or 2.50%
Term Note F - MBT	783		983		1/31/2028	Greater of 6.00% or Prime + 1.00%
Debt - Trust Preferred Securities	34,214		25,598		6/7/2049	8.00%
Total	45,679		47,963

AirCo 1 Debt
Term Loan - Park State Bank ("PSB")	5,434		6,393		12/11/2025	3-month SOFR + 3.26%
Total	5,434		6,393

Jet Yard Debt
Term Loan - MBT	1,749		1,844		8/31/2031	4.14%
Total	1,749		1,844

Contrail Debt
Revolver - ONB	3,476		12,441		11/24/2025	1-month SOFR + 3.56%	21,524
Term Loan G - ONB	14,918		38,180		11/24/2025	1-month SOFR + 3.11%
Term Note I - ONB	10,000		—		9/28/2025	1-month SOFR + 3.11%
Total	28,394		50,621

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

Wolfe Lake Debt
Term Loan - Bridgewater	9,327		9,586		12/2/2031	3.65%
Total	9,327		9,586

Air T Acquisition 22.1
Term Loan - Bridgewater	4,000		4,500		2/8/2027	4.00%
Term Loan A - ING	1,946		2,610		2/1/2027	3.50%
Term Loan B - ING	1,081		1,088		5/1/2027	4.00%
Total	7,027		8,198

WASI Debt
Promissory Note - Seller's Note	849		1,279		1/1/2026	6.00%
Total	849		1,279

AAM 24-1 Debt
Promissory Notes - Honeywell	15,000		—		2/22/2031	8.50%
Total	15,000		—

Total Debt	113,459		125,914

Unamortized Premiums and Debt Issuance Costs	(533)		(829)
Total Debt, net	$	112,926	$	125,085

Schedule of Maturities of Long-term Debt

At March 31, 2024, our contractual financing obligations, including payments due by period, are as follows (in thousands):


Fiscal year ended	Amount
2025	$	14,358
2026	26,229
2027	5,535
2028	4,009
2029	1,738
Thereafter	61,590
	113,459
Unamortized Premiums and Debt Issuance Costs	(533)
	$	112,926

Schedule of Interest Income and Interest Expense Disclosure

The components of net interest expense during the years ended March 31, 2024 and March 31, 2023 are as follows (in thousands):


	March 31, 2024		March 31, 2023
Contractual interest	$	6,684	$	7,932
Amortization of deferred financing costs	324		331
Interest income	(92)		(328)
Total	$	6,916	$	7,935