secwatch.observer — SEC 8-K summary
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Issuer:     AIR T INC (AIRT)
CIK:        0000353184
Form:       8-K
Filed at:   2026-08-14T20:52:54+00:00
Accession:  0000353184-26-000082
Event type: earnings
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Air T Q1 revenue up 63% to $115.5M; Crestone closes Arena acquisition
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- Revenue $115.5M (+63% YoY); operating loss $12.8M vs +$0.8M prior year; adjusted EBITDA $0.8M (-45%).
- Crestone acquired Arena Aviation Capital for $33.9M ($21.7M cash + $12.2M contingent); Blue Owl invested $10M for 10.25% preferred; Air T owns 83.9%.
- New Aviation Leasing segment; post-close 21-day: $1.4M fees, $3.5M operating loss, $0.3M adj EBITDA loss.
- Rex: revenue $55.9M, adj EBITDA $1.9M, operating loss $7.7M due to $8.8M D&A from $111.2M bargain purchase gain.
- Cash $21.7M; $42.4M credit line available; repurchased 840,855 shares (31% of outstanding) since Oct 2013.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/353184/000035318426000082/0000353184-26-000082-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/353184/000035318426000082/airt-20260814.htm
  HTML page:      https://secwatch.observer/filing/0000353184-26-000082

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