AIR T INC — Form 8-K/A
Filed August 28, 2026 · analyzed by the 8-K Agent
8-K/A
▼ Likely negative
significance 78/100
What the filing says
Arena Aviation Partners B.V. (subsidiary of AIR T) reported sharply deteriorated financials for 2025: equity swung from €5.3M positive (2024) to €9.4M negative. Key drivers: €15.5M share buyback, €10.7M in new subordinated loans from 7 related parties (Archeoptrix BV €3.0M, Mosa BV €2.3M, EmmaLex BV €2.2M, QP Management €1.0M, A. Goricke €1.0M, SC Management €1.0M, P. Blakeney €0.2M), and revenue collapse from €25.9M (2024) to €10.1M (2025). Cash fell 92% from €6.7M to €0.5M. All loans are subordinated, mature March 2030, carry 4% interest.
Why this rating
Negative equity and 92% cash depletion at material subsidiary relative to AIR T's €20M market cap materially worsen parent's financial position and solvency profile. Going-concern risk.
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