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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) (Unaudited) - USD ($)
shares in Thousands
3 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Revenues:    
Total revenue $ 66,411,000 $ 71,431,000
Operating Expenses:    
General and administrative 14,612,000 11,862,000
Depreciation and amortization 760,000 690,000
Operating expenses 66,988,000 70,773,000
Operating (Loss) Income (577,000) 658,000
Non-operating Income (Expense):    
Interest expense (1,946,000) (1,808,000)
Income from equity method investments 1,923,000 691,000
Other 703,000 643,000
Nonoperating income (expense) 680,000 (474,000)
Income before income taxes 103,000 184,000
Income Tax Expense 71,000.0 211,000
Net Income (Loss) 32,000 (27,000)
Net Income Attributable to Non-controlling Interests (367,000) (504,000)
Net Loss Attributable to Air T, Inc. Stockholders $ (335,000) $ (531,000)
Loss per share (Note 5)    
Basic (in dollars per share) $ (0.12) $ (0.19)
Diluted (in dollars per share) $ (0.12) $ (0.19)
Weighted Average Shares Outstanding:    
Basic (in shares) 2,761 2,818
Diluted (in shares) 2,761 2,818
Overnight air cargo    
Operating Revenues:    
Total revenue $ 30,383,000 $ 27,728,000
Operating Expenses:    
Cost of Revenue 25,709,000 23,712,000
Depreciation and amortization 97,000 85,000
Operating (Loss) Income 1,839,000 1,935,000
Ground equipment sales    
Operating Revenues:    
Total revenue 7,354,000 11,787,000
Operating Expenses:    
Cost of Revenue 6,533,000 10,338,000
Depreciation and amortization 95,000 34,000
Operating (Loss) Income (775,000) (85,000)
Commercial jet engines and parts    
Operating Revenues:    
Total revenue 26,250,000 29,846,000
Operating Expenses:    
Cost of Revenue 18,533,000 23,279,000
Depreciation and amortization 191,000 190,000
Operating (Loss) Income 1,095,000 1,478,000
Corporate and other    
Operating Revenues:    
Total revenue 2,424,000 2,070,000
Operating Expenses:    
Cost of Revenue 841,000 892,000
Depreciation and amortization 377,000 381,000
Operating (Loss) Income $ (2,736,000) $ (2,670,000)