Air T : Reports First Quarter Fiscal 2027 Results

About this update from Air T, Inc. - Trust Preferred Securities

Air T, Inc. Reports First Quarter Fiscal 2027 Results CHARLOTTE, NC, August 14, 2026- Air T, Inc. (NASDAQ: AIRT) is an industrious American company with a portfolio of businesses, each of which is independent yet interrelated. We seek dynamic individuals and teams to operate companies with processes and insights that drive increasing value over time. We believe we can invest corporate resources to help activate growth and overcome challenges. Our core segments are regional airline; overnight air cargo; commercial aircraft, engines and parts; ground support equipment; digital solutions; and aviation leasing and asset management. Today, Air T announced results for the fiscal first quarter ended June 30, 2026: Revenues totaled $115.5 million for the quarter ended June 30, 2026, an increase of $44.6 million, or 63% from the prior year comparable quarter. Revenues for the quarter ended June 30, 2026 included $55.9 million related to our acquisition of Regional Express Holdings Pty Ltd ("Rex") completed on December 18, 2025. Operating loss was $12.8 million for the quarter ended June 30, 2026, compared to the prior year's comparable quarter's operating income of $0.8 million. Loss before income taxes was $15.0 million for the quarter ended June 30, 2026, compared to $0.8 million in the prior year's comparable quarter. Adjusted EBITDA* was $0.8 million for the quarter ended June 30, 2026, compared to $1.5 million in the prior year's comparable quarter. The investment balance for the Company's equity method investees was $27.9 million at June 30, 2026, compared to $19.9 million at June 30, 2025. Net loss per share was $5.86 for the quarter ended June 30, 2026, compared to net loss per share of $0.61 in the prior year's comparable quarter. *Adjusted EBITDA is a non-GAAP financial measure; see below for further explanation and a reconciliation to the most directly comparable GAAP measure. Company Chairman and CEO Nick Swenson commented: "Air T management is pleased by what we believe to be steady value creation across many of our businesses in the first quarter of fiscal 2027. Quarterly lumpiness in seasonal and transaction-based businesses like Global Ground Support and Contrail make comparable period analysis difficult and sometimes unproductive. We encourage shareholders to work with various analytical tools and frameworks when assessing any single quarter at Ai...

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