Every material Form 8-K AIR T INC has filed with the SEC since August 14, 2026, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
On September 1, 2026, Air T and eight subsidiaries entered Amendment No. 7 to their Alerus credit agreement. The amendment raises the revolving commitment from $20.0 million to $25.0 million, ends a temporary overline commitment, and sets the revolver's termination date at August 27, 2029. For shareholders, the filing shows a larger committed credit line and new loan terms, including a 5.00 percentage point interest rate increase upon an event of default.
Revolving commitment rises from $20.0 million to $25.0 million, with a termination date of August 27, 2029.
A $11.46 million Consolidated Term Note combines Term Loan A, Term Loan C and overline loans, with final principal due August 27, 2031.
Revolver and accordion borrowings bear interest at the greater of 5.00% or one-month term SOFR plus a margin initially set at 2.50%.
An accordion option allows up to $3.5 million for one 120-day period each fiscal year, subject to a 0.50% origination fee.
Air T reported fiscal 2027 first-quarter results for the period ended June 30, 2026, with revenue up 63% to $115.5 million but an operating loss of $12.8 million compared with operating income of $0.8 million a year earlier. The company attributed the loss mainly to transaction and integration costs for Crestone's June 10 acquisition of Arena Aviation Capital and to depreciation from the fair-value step-up of the Rex aircraft fleet. Shareholders are seeing higher revenue alongside lower profitability in the quarter.
Q1 revenue was $115.5 million, up $44.6 million, or 63%, from the prior-year quarter.
Q1 operating loss was $12.8 million versus operating income of $0.8 million a year earlier; Adjusted EBITDA was $0.8 million, down 45% from $1.5 million.
Trailing twelve-month revenue was $371.7 million, up 25%, while the trailing twelve-month operating loss was $24.9 million.
Crestone acquired Arena Aviation Capital on June 10 for $33.9 million, including $21.7 million in cash and $12.2 million of contingent consideration; Blue Owl funded $10.0 million for preferred units representing 10.25% of the platform.
Air T reported fiscal first-quarter 2027 revenue of $115.5 million, up 63% from a year earlier, with $55.9 million coming from its Rex regional airline acquisition completed on December 18, 2025. The company swung to an operating loss of $12.8 million from operating income of $0.8 million a year earlier, and net loss per share was $5.86 versus $0.61, so higher sales did not translate into profit for shareholders.
Revenue $115.5 million, up $44.6 million or 63%; Rex contributed $55.9 million
Operating loss $12.8 million versus operating income of $0.8 million in the prior-year quarter
Net loss per share $5.86 versus $0.61; loss before income taxes $15.0 million versus $0.8 million
Adjusted EBITDA (a non-GAAP measure) $0.8 million versus $1.5 million; Regional Airline segment cited fuel expense of $11.8 million as the primary driver of its operating loss
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