DENVER, COLORADO / ACCESS Newswire / March 9, 2026 / Crestone Air Partners, a global aviation asset management platform majority owned by Air T, Inc. (NASDAQ:AIRT), has entered into a definitive agreement to acquire Arena Aviation Capital, a well-established aviation asset manager with a diversified portfolio and deep airline relationships. The transaction is subject to closing conditions and approvals. ...

Core Viewpoint - Bharti Airtel plans to invest 200 billion rupees ($2.2 billion) in its financial arm, Airtel Money, to enhance its digital lending capabilities and diversify its business beyond telecommunications [1][2][3] Group 1: Investment Details - The investment will be allocated to Airtel Money, which recently obtained a non-banking financial company (NBFC) license from the Reserve Bank of India [1] - Bharti Airtel will contribute 70% of the total capital, while key shareholder Bharti Enterprises will provide the remaining 30% [3] Group 2: Market Context - The investment comes amid increasing competition in India's non-bank lending sector, with players like Jio Financial Services and Bajaj Finance expanding their retail credit operations [2] - This strategic move aims to leverage Airtel's extensive customer base to create a new growth engine and further diversify the company's portfolio [3]

Core Viewpoint - Air T, Inc. reported a decline in revenues and increased net losses for the third quarter of fiscal 2026, despite a recent acquisition aimed at expanding its market presence in the Australian regional airline sector [2][8]. Financial Performance - For the third quarter ended Dec. 31, 2025, Air T reported revenues of $71.1 million, down 8.7% from $77.9 million in the prior-year quarter [2]. - The company experienced an operating loss of $3.8 million compared to an operating income of $1.4 million a year earlier [2]. - Net loss attributable to Air T stockholders widened to $2.5 million, or $(0.91) per share, from a loss of $1.3 million, or $(0.47) per share, in the prior-year period [2]. Year-to-Date Performance - On a nine-month basis, revenue declined 8.6% to $206.2 million from $225.5 million [3]. - Net income attributable to Air T stockholders fell 69.8% to $0.3 million, or $0.10 per share, from $0.9 million, or $0.32 per share, a year earlier [3]. Segment Performance - Overnight air cargo revenue was flat at $30.6 million [4]. - Ground support equipment sales rose 7.9% to $12.8 million from $11.8 million [4]. - Commercial aircraft, engines, and parts revenue fell 42.4% to $18.8 million from $32.7 million [4]. - Digital solutions revenue increased 24.9% to $2.5 million from $1.9 million [4]. - The newly added regional airline segment contributed $5.2 million for the partial quarter following the Rex acquisition [4]. Key Business Metrics - Adjusted EBITDA for the quarter was $0.2 million, down from $2.7 million in the prior-year period [5]. - Ground support equipment generated $1.7 million in adjusted EBITDA, up from $0.2 million a year earlier [5]. - Overnight air cargo produced $1 million, down 48.6% from $1.9 million [5]. - The commercial aircraft, engines, and parts segment posted an adjusted EBITDA loss of $0.2 million against a $2.9 million profit last year [6]. - The regional airline segment reported a $0.5 million adjusted EBITDA loss for its initial 13 days of operations under Air T ownership [6]. - Order backlog in the ground support equipment segment nearly doubled to $12.9 million as of Dec. 31, 2025, from $6.2 million a year earlier [6]. Investments and Acquisitions - The equity method investments balance increased to $33.6 million as of Dec. 31, 2025, from $19 million as of March 31, 2025 [7]. - The acquisition of Rex Regional Airlines was described as a strategic entry into the Australian regional airline market, with a preliminary bargain purchase gain of $95.8 million recorded as a deferred credit on the balance sheet [8][10]. - The preliminary fair value of assets acquired from Rex totaled $164.8 million against liabilities of $57.9 million, resulting in net assets of $106.9 million [12]. Management Commentary - Management did not provide formal financial guidance for upcoming quarters, focusing instead on operational integration of Rex and execution priorities [11].

Core Viewpoint - Air T, Inc. intends to raise additional capital through its outstanding trust preferred security, the Alpha Income Preferred Securities, to efficiently access funds as strategic opportunities arise [1] Group 1: Capital Raising Strategy - The company plans to utilize its at-the-market (ATM) facility for periodic and opportunistic capital raising [1] - In addition to the ATM program, Air T may offer Alpha Income Preferred Securities through privately negotiated placements with institutional investors [1]

Core Viewpoint - Air T, Inc. is an industrious American company with a diverse portfolio of independent yet interrelated businesses aimed at driving increasing value over time [1] Company Overview - Air T, Inc. operates multiple businesses that are designed to be dynamic and interrelated, focusing on processes and insights that enhance value [1]

Financial Results - Air T, Inc. reported financial results for the quarter ended December 31, 2025[7]. - The company issued a press release on February 13, 2026, detailing its performance metrics[7]. - Specific revenue figures and growth percentages were not provided in the extracted content[7]. - The financial statements and exhibits are part of the current report but specific figures are not detailed in the provided content[9]. Regulatory Compliance - The report is filed under the Securities Exchange Act of 1934, indicating compliance with regulatory requirements[8]. - The company has not indicated whether it is an emerging growth company[6]. Stock Information - The company is listed on NASDAQ with the trading symbol AIRT for common stock[4]. Press Release Details - The press release is included as Exhibit 99.1, which may contain detailed financial data[9]. - No information on user data, future outlook, or new product developments was available in the extracted content[7]. Report Authentication - The report was signed by Tracy Kennedy, Chief Financial Officer, confirming its authenticity[13].

Revenue Performance - Consolidated revenue for the three-month period ended December 31, 2025 decreased by $6.7 million (8.7%) compared to the same quarter in the prior fiscal year[201]. - The ground support equipment segment reported revenues of $12.8 million for the quarter, an increase of $0.9 million (8%) from $11.8 million in the prior year, driven by higher sales of high-lift catering equipment[202]. - The commercial aircraft, engines, and parts segment saw a revenue decline of $13.9 million (42%), contributing $18.8 million compared to $32.7 million in the prior year, primarily due to aging component inventory[203]. - Digital solutions segment revenues increased by $0.5 million (25%) to $2.5 million, attributed to higher software subscriptions with monthly recurring revenues of $0.8 million[204]. - The newly acquired regional airline generated $5.2 million in revenues for the two weeks of operations post-acquisition, marking a significant addition to the company's portfolio[205]. - Consolidated segment revenue decreased by $19.4 million (9%) to $202.2 million for the nine months ended December 31, 2025 compared to the prior year[219]. - The digital solutions segment revenue increased by $1.3 million (23%) to $6.8 million for the nine months ended December 31, 2025, driven by higher software subscriptions[223]. - The commercial aircraft, engines, and parts segment revenue decreased by $30.2 million (33%) to $61.7 million for the nine months ended December 31, 2025, due to lower component sales[222]. - The ground support equipment segment revenue increased by $3.8 million (11%) to $37.5 million for the nine months ended December 31, 2025, led by higher sales of catering units and deicers[221]. Operating Expenses - Consolidated operating expenses decreased by $3.9 million (6%) for the three-month period ended December 31, 2025 compared to the same quarter in the prior fiscal year[206]. - The commercial aircraft, engines, and parts segment's operating expenses decreased by $9.6 million (41%) to $14.1 million, reflecting lower component sales[209]. - The ground support equipment segment's operating expenses decreased by $0.7 million (7%) to $9.6 million, driven by improved product mix and lower spending[208]. - The overnight air cargo segment's operating expenses increased by $0.4 million (2%) to $26.0 million, remaining consistent period-over-period[207]. - Operating expenses decreased by $16.9 million (10%) to $156.4 million for the nine months ended December 31, 2025 compared to the prior year[225]. - Regional airline operating expenses were $5.5 million for the nine months ended December 31, 2025, resulting from the acquisition of Rex on December 18, 2025[229]. - General and administrative expenses increased by $7.2 million (17%) to $49.8 million for the nine months ended December 31, 2025, primarily due to acquisition-related costs and higher payroll expenses[230]. Cash and Liquidity - As of December 31, 2025, the company held approximately $42.2 million in cash and cash equivalents and restricted cash, with $4.7 million reserved as collateral[239]. - The company's working capital, excluding the deferred bargain purchase gain of $95.8 million, amounted to $89.2 million, an increase of $58.4 million compared to March 31, 2025[240]. - The increase in working capital was primarily driven by a $26.9 million increase in inventory, a $31.4 million increase in cash and cash equivalents, and a $19.3 million increase in accounts receivable[240]. - The company entered into a $6.0 million term loan with Alerus on November 24, 2025, to repay a previous loan, with an interest rate of the greater of 5.00% or 1-month SOFR plus 1.90%[248]. - The company has a $15.0 million revolving loan facility with Alerus, carrying interest at 1-month SOFR plus 3.11%, to be used for engine purchases and working capital needs[249]. - The company has approximately $53.6 million in available funds under its lines of credit as of December 31, 2025[239]. - The Company believes it has sufficient cash and liquidity to meet its obligations for at least 12 months following the issuance of the financial statements[255]. Debt and Financing - The Company issued an 11.5% Senior Secured Note totaling $40.0 million, maturing on December 15, 2031, to two Institutional Investors[251]. - The Company assumed approximately A$107.8 million in liabilities related to the Commonwealth Facility Agreement during the acquisition of Rex[252]. - The New Facility Agreement has an interest rate of 12.0% per annum and matures on December 17, 2032, with varying availability periods for different facilities[254]. - The Multiple Advance Note issued by the company has an aggregate principal amount of up to $100.0 million, with an annual interest rate of 8.5%[243][244]. - The Company maintains compliance with all financial covenants under the Commonwealth Facilities as of December 31, 2025[254]. - The company was in compliance with all applicable covenants under the Multiple Advance Note and other loan agreements as of December 31, 2025[246][249]. Income and Tax - The company reported net non-operating income of $2.0 million for the nine months ended December 31, 2025, compared to a net non-operating loss of $2.0 million in the prior year[231]. - The effective tax rate for the nine-month period ended December 31, 2025 was 48.1%, with a recorded income tax expense of $2.2 million[232]. - The company experienced a $3.6 million increase in net income from equity method investments for the nine months ended December 31, 2025[231]. Market and Economic Conditions - The company experienced significant uncertainty and risk due to inflation and increased interest rates affecting its financial condition and results of operations[238]. - The company anticipates that economic and business issues will continue to impact its operations beyond the current fiscal year[238]. - Market risk exposures have not changed materially since March 31, 2025[273]. Trust Preferred Securities - The Trust Preferred Securities have an annual distribution rate of 8% on a stated liquidation amount of $25.00, payable quarterly[266]. - As of December 31, 2025, there are $48.6 million in Trust Preferred Securities outstanding, with $13.0 million held by wholly-owned subsidiaries of the Company[271]. - The Company has the right to defer interest payments on the Junior Subordinated Debentures for up to 20 consecutive quarters, which would also defer distributions on the Trust Preferred Securities[270]. - The Trust Preferred Securities are subject to mandatory redemption starting June 7, 2024, with proceeds from Junior Subordinated Debentures repayment applied to redeem Trust Preferred Securities[268]. - The Trust Agreement allows for the issuance of up to $100.0 million of Trust Preferred Securities, with the last amendment made on January 28, 2022[271]. - The Company guarantees the payment of distributions on the Trust Preferred Securities, subordinate to senior and subordinated debt payments[266]. - The Trust is classified as a "finance subsidiary" and does not file periodic reports with the SEC under the Securities Exchange Act of 1934[272]. - The Company has no current intention to exercise its right to defer interest payments on the Junior Subordinated Debentures[270]. - The rights of the Company as the holder of common securities are subordinated to the rights of Trust Preferred Securities holders in the event of default[267].

Core Viewpoint - Air T, Inc. announces dividend dates and record dates for its Air T Funding Alpha Income Preferred (AIP) securities for 2026 and 2027, with cash distributions set at $0.50 per share, reflecting an annual rate of 8.0% [1] Group 1 - The cash distribution amount for AIP securities is $0.50 per share [1] - The annual distribution rate for AIP securities is 8.0% [1]

Core Viewpoint - Air T, Inc. has successfully completed the acquisition of Regional Express Holdings Limited (Rex), marking a significant expansion in the regional airline sector in Australia [1] Company Summary - Air T, Inc. now owns 100% of Rex, which is recognized as Australia's leading regional airline [1] - The acquisition is expected to initiate a new chapter for Rex and enhance its service to regional communities across Australia [1]

Group 1 - Airtel Africa has partnered with SpaceX to introduce Starlink's direct-to-cell satellite technology [1] - The partnership will extend the satellite technology to all 14 markets where Airtel Africa operates [1]