Feb 23 (Reuters) - Bharti Airtel will invest 200 billion rupees ($2.2 billion) in its financial ‌arm over the next few years, ‌India's second-largest mobile carrier by number of users said ​on Monday, as it steps up its push into digital lending. The capital will be infused into its subsidiary, Airtel Money, which received a ‌non-banking financial company (NBFC) ⁠license from the Reserve Bank of India on February 13. Airtel's expansion comes ⁠as competition intensifies in India’s non-bank lending secto ...

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]

CHARLOTTE, NC / ACCESS Newswire / February 13, 2026 / Air T, Inc. (NASDAQ:AIRT) is an industrious American company with a portfolio of businesses, each of which is independent yet interrelated. We seek dynamic individuals and teams to operate companies with processes and insights that drive increasing value over time. ...

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]

Core Insights - The article highlights the performance and outlook of several stocks, including Microsoft, Novartis, RTX, and Air T, as analyzed by Zacks Equity Research [1][2]. Microsoft - Microsoft's shares have outperformed the Zacks Computer - Software industry over the past year, with a growth of 6.8% compared to the industry's 2.3% [4]. - The company holds a 25% market share in the cloud sector through Azure and integrates AI strategically via OpenAI, generating over $100 billion in annual operating cash flows with margins exceeding 40% [4]. - Fiscal 2026 net sales are expected to grow by 15.1% from fiscal 2025, but the company faces competition from AWS and Google Cloud, regulatory scrutiny, and rising capital expenditures for AI infrastructure [5]. Novartis - Novartis has outperformed the Zacks Large Cap Pharmaceuticals industry over the past year, with a growth of 38.8% compared to 14.9% for the industry [6]. - The company has a diverse portfolio, including drugs like Kisqali and Pluvicto, with projected compound annual growth rates (CAGR) of 37.9% and 43.3% over the next three years [7]. - New drug approvals and label expansions are expected to mitigate the impact of generic competition for key drugs, supported by recent acquisitions and collaborations [8]. RTX - RTX's shares have outperformed the Zacks Aerospace - Defense industry over the past year, with a growth of 54.1% compared to 28.1% for the industry [9]. - The company has a backlog of $251 billion as of September 30, 2025, driven by strong demand for defense products and improving global commercial air traffic [10]. - However, uncertainties from U.S. government import tariffs and ongoing supply-chain challenges pose risks to RTX's performance [11]. Air T - Air T has outperformed the Zacks Transportation - Air Freight and Cargo industry over the past year, with a growth of 0.8% compared to a decline of 8.4% for the industry [12]. - The company shows operational strength with margin expansion in Commercial Aircraft & Engines and stable cash flow from FedEx feeder operations [12]. - Elevated leverage, rising interest costs, and execution risks across segments constrain earnings durability, with liquidity pressured by volatile working-capital needs [13].