Note 13 - Subsequent Events

9 Months Ended

Dec. 31, 2015

Notes to Financial Statements

Subsequent Events [Text Block]

13. Subsequent Events

Management performs an evaluation of events that occur after the consolidated balance sheet date, but before the consolidated financial statements are issued, for potential recognition or disclosure of such events in the Company

’s consolidated financial statements.

Overnight Air C

argo

.

At

December 31, 2015,

MAC and C

SA operated a total of

18

ATR aircraft and a total of

61

Cessna Caravan aircraft under agreements with FedEx Corporation. In

January 2016,

FedEx advised MAC that effective at the end of

February 2016

it would be transferring an ATR aircraft operated by MAC to another feeder operator to meet scheduling needs. The administrative revenue related to an ATR aircraft is significantly greater than the administrative revenue related to the operation of a Cessna Caravan.