AIRTP · Air T, Inc.

Summary

Air T, Inc. filed an 8-K/A on March 4, 2026, providing audited financial statements of Regional Express Holdings Limited for the year ended June 30, 2025, showing a net loss after tax of A$114,643 thousand and net liabilities of A$161,325 thousand, along with unaudited pro forma condensed combined financial statements reflecting the acquisition completed on December 18, 2025 for nominal consideration of $1. Deloitte & Touche Tohmatsu consented to incorporation by reference of their audit report in Air T's registration statements.

Key takeaways

• Acquisition of Regional Express Holdings Limited completed December 18, 2025 for nominal $1 via Deed of Company Arrangement
• Rex FY2025 revenue A$305,187 thousand, loss after tax A$114,643 thousand from continuing operations A$91,720 thousand plus discontinued A$22,923 thousand
• Rex balance sheet as of June 30, 2025: total assets A$190,922 thousand, total liabilities A$352,247 thousand, net liabilities A$161,325 thousand
• Pro forma combined net loss attributable to Air T stockholders for year ended March 31, 2025: $82,781 thousand
• Assumed CFA Debt of $71.2 million face value, fair valued using DCF with 30-year term, interest-free unless default
• Rex entered voluntary administration July 30, 2024, exited December 18, 2025 post-DOCA; shares delisted September 11, 2025