Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Dec. 31, 2015	[1]	Mar. 31, 2015
Current Assets:
Cash and cash equivalents	$ 5,287,316		$ 14,165,120	[2]
Marketable securities	3,921,690		5,278,752
Accounts receivable, less allowance for doubtful accounts of $183,000 and $222,000	14,969,012		9,534,563	[2]
Notes and other receivables-current	$ 954,240		816,606	[2]
Income tax receivable			195,000	[2]
Inventories	$ 11,557,592		7,789,649
Deferred income taxes	216,559		278,000	[2]
Prepaid expenses and other	1,189,235		612,334	[2]
Total Current Assets	38,095,644		$ 38,670,023	[2]
Investments in Available-For-Sale Securities	4,744,406			[2]
Property and Equipment, net	4,516,440		$ 2,571,499	[2]
Cash Surrender Value of Life Insurance Policies	2,110,830		1,990,671	[2]
Other Assets	289,967		224,188	[2]
Total Assets	49,757,287		43,456,382	[2]
Current Liabilities:
Accounts payable	5,629,318		$ 4,715,709	[2]
Income tax payable	872,267			[2]
Accrued expenses	5,456,011		$ 3,529,451	[2]
Short-term debt	208,000			[2]
Total Current Liabilities	12,165,596		$ 8,245,160	[2]
Long-term Debt	11,000		5,000,000	[2]
Deferred Income Taxes	416,000		$ 416,000	[2]
Other Non-current Liabilities	53,690			[2]
Equity:
Preferred stock, $1.00 par value, 50,000 shares authorized,	0		$ 0	[2]
Common stock, $.25 par value; 4,000,000 shares authorized, 2,372,527 shares issued and outstanding	593,131		593,131	[2]
Additional paid-in capital	4,936,518		4,929,090	[2]
Retained earnings	30,437,175		24,407,915	[2]
Accumulated other comprehensive loss	(32,683)		(134,913)	[2]
Total Air T, Inc. Stockholders' Equity	35,934,141		$ 29,795,223	[2]
Non-controlling Interests	1,176,860			[2]
Total Equity	37,111,001		$ 29,795,223	[2]
Total Liabilities and Equity	$ 49,757,287		$ 43,456,382	[2]

[1] Includes VIE assets of $8,015,000 and VIE liabilities of $3,617,000 - Note 9

[2] Derived from audited financial statements