AIR T INC — Form 8-K
Filed August 14, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 68/100
What the filing says
Air T reported Q1 FY2027 revenues of $115.5M (up 63% YoY), including $55.9M from Regional Express Holdings (Rex), acquired December 18, 2025. However, operating loss was $12.8M (vs. $0.8M operating income YoY), with net loss per share of $5.86 (vs. $0.61 YoY). Adjusted EBITDA declined to $0.8M from $1.5M YoY. Rex contributed $1.9M adjusted EBITDA but faced $11.8M fuel expenses and unscheduled engine removals. The company also acquired Arena and integrated it into Crestone during the period.
Why this rating
Rex acquisition materially expands revenue (63% growth) but integration losses and margin compression are substantial relative to $20.1M market cap. Profitability swing represents meaningful deterioration despite growth.
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