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How Air T (AIRT) makes money

Air T (AIRT) made $115M of revenue in the first quarter fiscal 2027 (Q1 FY27), +63% from a year earlier. Regional airline brought in $55.9M (48%); Overnight Air Cargo brought in $30.0M (26%); Commercial aircraft, engines and parts brought in $20.5M (18%).

Drawing the Sankey…

Air T revenue by segment, Q1 FY27Air T revenue by segment, Q1 FY27Regional airline$55.9MOvernight Air Cargo$30.0MCommercial aircraft, engines and …$20.5MGround support equipment$3.7MDigital solutions$2.5MCorporate and other$1.5MAviation leasing and asset manage…$1.4M
Air T: revenue by line, Q1 FY26 to Q1 FY27Air T: revenue by line, Q1 FY26 to Q1 FY27Overnight Air CargoCommercial aircraft, …Regional airlineGround support equipm…Digital solutionsCorporate and otherAviation leasing and …Overnight Air Cargo: $30.0M latest$30.0MCommercial aircraft, engines and parts: $20.5M latest$20.5MRegional airline: $55.9M latest$55.9MGround support equipment: $3.7M latestDigital solutions: $2.5M latestCorporate and other: $1.5M latestAviation leasing and asset management: $1.4M latestQ1 FY26Q2 FY26Q3 FY26Q1 FY27
Ground support equipment went from 21% of revenue in Q1 FY26 to 3% in Q1 FY27, the largest shift in the mix.
Air T revenue by quarterAir T revenue by quarter$77.9MQ3 FY25$66.3MQ4 FY25$70.9MQ1 FY26$64.2MQ2 FY26$71.1MQ3 FY26$121MQ4 FY26$115MQ1 FY27
Air T: where each dollar of revenue goesAir T: where each dollar of revenue goesIncome tax1¢

Revenue by segment, Q1 FY27

SegmentRevenueShareQ/QY/Y
Regional airline$55.9M48.4%——
Overnight Air Cargo$30.0M26.0%—-2%
Commercial aircraft, engines and parts$20.5M17.8%—-7%
Ground support equipment$3.7M3.2%—-76%
Digital solutions$2.5M2.2%—+19%
Corporate and other$1.5M1.3%—+32%
Aviation leasing and asset management$1.4M1.2%——

Where each dollar of revenue goes

LineQ1 FY27% of revenue
Revenue$115M100.0%
Income tax$660K0.6%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q1 FY27$115M+63%
Q4 FY26$121M+82%
Q3 FY26$71.1M-9%
Q2 FY26$64.2M-21%
Q1 FY26$70.9M+7%
Q4 FY25$66.3M-9%
Q3 FY25$77.9M+22%

From Air T's 10-Q filed Aug 14, 2026 (on EDGAR).

Questions

How does Air T make money?

Air T (AIRT) made $115M of revenue in the first quarter fiscal 2027 (Q1 FY27), +63% from a year earlier. Regional airline brought in $55.9M (48%); Overnight Air Cargo brought in $30.0M (26%); Commercial aircraft, engines and parts brought in $20.5M (18%).

What is Air T's biggest business?

Regional airline: $55.9M in the first quarter fiscal 2027, 48% of revenue.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.