AIR T INC entered into Share Purchase Agreement with Arena, the sellers party thereto (collectively, the "Sellers"), and Dirk Jan Smit, as Securityholders' Agent valued at approximately $20 million (effective 2026-03-08).
“On March 8, 2026, the Company, through Crestone Air Partners, Inc. (the “ Purchaser ” or “ Crestone ”), entered into a Share Purchase Agreement (the “ Purchase Agreement ”) with Arena, the sellers party thereto (collectively, the “ Sellers ”), and Dirk Jan Smit, as Securityholders’ Agent, pursuant to which Purchaser agreed to acquire all of the outstanding shares of Arena.”
Material Agreements
AIR T INC entered into Share Purchase Agreement with Arena Aviation Partners B.V. valued at in excess of 35 million (effective 2026-03-08).
“On March 8, 2026, Air T, Inc. (the “Company”), through Crestone Air Partners LLC (the “Purchaser” or “Crestone”), entered into a Share Purchase Agreement (the “Purchase Agreement”) with Arena Aviation Partners B.V. (“Arena”), the sellers party thereto (collectively, the “Sellers”), and Dirk Jan Smit, as Securityholders’ Agent, pursuant to which Purchaser agreed to acquire all of the outstanding shares of Arena.”
Debt Financings
AIR T INC incurred credit facility of A$50,000,000 with Rex Express at 12.0% per annum maturing five years from the date of closing.
“The New Cap Note Facility provides a A$50,000,000 line of credit, matures five years from the date of closing, and bears interest at 12.0% per annum.”
Debt Financings
AIR T INC incurred senior notes of US$40,000,000 with Honeywell Common Investment Fund and Honeywell International Inc. Master Retirement Fund at 11.5% per annum maturing December 15, 2031.
“Acquisition 25.1 issued to the Investors a 11.5% Senior Secured Note due December 15, 2031 in the aggregate principal amount of US$40,000,000”
M&A Transactions
AIR T INC completed an acquisition involving Regional Express Holdings Limited for $1.00 and assumption of approximately A$108,000,000 in liabilities (closed 2025-12-17).
“On December 17, 2025, the Company, through Rex Acquisition, completed the acquisition of all of the outstanding capital stock of Regional Express Holdings Limited ("Rex Express") for cash consideration of $1.00 and the assumption of Rex Express’s liabilities.”
Debt Financings
AIR T INC amended guarantee of $2,000,000 with Alerus Financial, National Association.
“the loan is secured by a payment guaranty of Air T, Inc, in an aggregate amount not to exceed $2,000,000 plus collection and collateral recovery costs.”
Debt Financings
AIR T INC incurred revolving credit of $15,000,000 with Alerus Financial, National Association at 1-month SOFR plus 3.11% maturing November 24, 2027.
“Contrail entered into a Master Loan Agreement and Supplement No. 1 to Master Loan Agreement (collectively the “Master Loan Agreement”) with Alerus. The agreement provided for a $15,000,000 revolving loan facility that is evidenced by a Promissory Note Revolving Note dated November 24, 2025 in the principal amount of $15,000,000. The funds are to be used for the”
Debt Financings
AIR T INC incurred term loan of $6,000,000 with Alerus Financial, National Association at the greater of 5.0% or 1.90% plus the CME one-month term SOFR rate maturing November 24, 2032.
“.01 Entry into a Material Definitive Agreement Alerus Financial Financings On November 24, 2025, Air T Acquisition 22.1, LLC (“22.1”) and Contrail Aviation Services, LLC and Contrail Aviation Leasing, LLC (collectively “Contrail”) completed financings with Alerus Financial, National Association (“Alerus”). (a) 22.1 Term Loan On November 24, 2025, 22.1 entered into a $6,000,000 term loan with Alerus.”
M&A Transactions
AIR T INC completed a disposition involving FTAI Aircraft Leasing Ireland (2025) DAC for exceeded $18,000,000 (closed 2025-07-15).
“of Contrail Aviation Support, LLC (“Contrail”), completed the sale of two Airbus aircraft with engines. The total transaction value for the aircraft and engine sales exceeded $18,000,000. The sale and purchase agreements related to the transactions were filed as exhibits to that certain Air T, Inc. Current Report on Form 8-K filed June 25, 2025 and the purchaser”
Debt Financings
AIR T INC incurred senior notes of $100,000,000 with institutional investors at 8.5% maturing May 31, 2035.
“the Issuer agreed to issue and sell a Multiple Advance Senior Secured Note in an aggregate principal amount of up to $100,000,000”
Tracy Kennedy was appointed as Principal Financial Officer at AIR T INC.
“the Company will appoint Tracy Kennedy, the Company’s Chief Accounting Officer, to assume the duties of principal financial officer of the Company effective September 3, 2024.”
Brian Ochocki departed as Chief Financial Officer at AIR T INC.
“Brian Ochocki will resign as Chief Financial Officer of the Company effective as of September 3, 2024.”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.