Earnings Releases·Nov 13, 2026, 4:35 PM ET

Air T, Inc. — Second Quarter Fiscal 2027 Earnings Summary

Total revenues surged 129% year-over-year to $146.9 million, driven by a $56.8 million contribution from the full-quarter operations of the acquired Regional Express Holdings ("Rex"), though the company reported an operating loss of $11.8 million compared to $5.5 million income in the prior year.
Adjusted EBITDA declined to $4.4 million for the quarter and $5.2 million for the six-month period from $7.9 million and $9.3 million respectively, with the Regional Airline segment posting a $0.9 million loss due to doubling fuel costs and unscheduled engine removals.
Non-regional segments showed mixed results: Overnight Air Cargo and Ground Support Equipment reported year-over-year Adjusted EBITDA growth, while Commercial Aircraft, Engines and Parts saw Adjusted EBITDA drop to $1.5 million primarily due to a non-recurring $7.0 million gain on aircraft sales in the prior year.
Strategic activity included the completion of the Rex acquisition in December 2025 and the Arena acquisition in June 2026, with the latter contributing $1.3 million in Adjusted EBITDA despite unfavorable earnout remeasurements and integration costs.