Air T, Inc.
Air T, Inc. is a publicly traded aviation holding company operating 20 subsidiaries across overnight air cargo (for FedEx), ground support equipment manufacturing, commercial aircraft and parts trading, regional airlines (Rex in Australia), and digital aviation solutions, with $327M in FY2026 revenue.
- Company typePublic
- Founded1980
- HeadquartersMinneapolis, United States
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
What Air T, Inc. does
Air T, Inc. (NASDAQ: AIRT) is a publicly traded holding company founded in 1980 and headquartered in Minneapolis, Minnesota, that owns and operates a networked portfolio of 20 companies across five core aviation segments: Overnight Air Cargo (Mountain Air Cargo, CSA Air, WASI, Royal Aircraft Services — primarily serving FedEx); Commercial Aircraft, Engines and Parts (Contrail, Jet Yard, Worthington Aviation, AirCo, LGSS — trading, leasing, and aftermarket parts); Aviation Ground Support Equipment (Global Ground Support — a leading deicing equipment manufacturer and sole source supplier to the U.S. Air Force since 1999); Regional Airline (Regional Express/Rex — Australia's leading regional airline operating Saab 340 aircraft, acquired December 2025); and Digital Solutions (WorldACD, Ambry Hill Technology — recurring subscription data analytics).
The company's revenue model is diversified across multiple streams: contracted cargo services for FedEx (subscription/recurring), hardware sales of ground support equipment, transaction-based aircraft/parts trading, managed services fees from Crestone Air Partners (asset management on $3.6B AUM post-Arena acquisition), and digital subscription revenues. Crestone Air Partners, a majority-owned subsidiary (~83.9% post-Blue Owl investment), is the primary growth engine with AUM scaling from $0 to $3.6B in approximately five years. The company has minimal proprietary technology disclosure; its competitive position rests on capital structure, multi-decade customer relationships, and operational niches across the aviation lifecycle.
Air T operates on an "investor-operator partnership" model with permanent capital (trust preferred securities AIRTP, ATM facilities) and pursues value through acquisitions of cash-flow-generating aviation businesses. FY2026 revenue was $327.1M (up 12% YoY), with adjusted EBITDA of $10.1M and a significant non-cash $111.2M bargain purchase gain from Rex. The company is highly leveraged at 75% debt-to-total-capital and operates across 5 countries (USA, Netherlands, Ireland, Singapore, Argentina, Australia) with 1,000+ team members.
Air T, Inc. firmographics
Firmographics- Name
- Air T, Inc.
- Legal name
- Air T, Inc.
- Website
- https://airt.com
- Company type
- Public
- Founded year
- 1980
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Air T, Inc. is a publicly traded aviation holding company operating 20 subsidiaries across overnight air cargo (for FedEx), ground support equipment manufacturing, commercial aircraft and parts trading, regional airlines (Rex in Australia), and digital aviation solutions, with $327M in FY2026 revenue.
- Ownership category
- akta.pro rank
Air T, Inc. industry classification
Industry- Product category
- Aviation Holding Company Services
- NAICS
- Scheduled Air Transportation (48111), Nonscheduled Air Transportation (4812), Support Activities for Air Transportation (4881), Aerospace Product and Parts Manufacturing (33641)
- SIC
- Air Transportation, Nonscheduled (4522), Air Transportation, Scheduled (4512), Aircraft Parts & Auxiliary Equipment, Nec (3728), Aircraft Engines & Engine Parts (3724), Services-Equipment Rental & Leasing, Nec (7359)
- akta.pro primary industry
- Parts Distribution & Spares Management (Aftermarket) (IMABALAK)
- akta.pro secondary industry
- Aerospace & Defense (TLAIALAB)
Keywords
Where Air T, Inc. is headquartered
LocationHeadquarters
- HQ city
- Minneapolis
- HQ country
- United States
- HQ region
- North America
Offices14 records
Markets served
Air T, Inc. business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Infrastructure, Others, Marketing or Sales
Revenue model
- Overnight Air Cargo Services: Air cargo delivery services primarily for FedEx Corporation under long-term contractual relationships. Subsidiaries Mountain Air Cargo and CSA Air operate feeder routes generating steady operating margins and cash flows. Also includes aircraft maintenance and repair services.
- Ground Support Equipment Sales: Manufacture and sale of mobile deicers, scissor-lift catering trucks, tow-tractors, and glycol recovery vehicles. Global Ground Support is one of the world's largest aircraft deicing equipment manufacturers and sole source supplier to the U.S. Air Force since 1999.
- Commercial Aircraft, Engines and Parts: Acquisition, leasing, management, repair, disassembly, and sale of commercial aircraft, jet engines, and aviation components. Includes Contrail (whole aircraft/engines trading and leasing), Worthington (aftermarket parts/repairs), AirCo (airframe liquidator), and Jet Yard (teardown/teardown services).
- Aviation Asset Management (Crestone Air Partners): Aviation asset management platform earning standard industry fees including origination fees, administrative fees, disposition fees, and incentive fees above a hurdle rate. Manages $3.6B in AUM post-Arena acquisition. Investors seek 10%+ returns after fees.
- Digital Solutions: Recurring subscription revenues from digital aviation and business services including WorldACD (data analytics, airspace management) and Ambry Hill Technology (software subscriptions). Monthly recurring revenues from software subscriptions.
- Regional Airline (Rex): Scheduled regional passenger and cargo airline services in Australia. Revenue consists of passenger revenue, ancillary fees, freight and charter, and government subsidy income.
- Trust Preferred Securities: Alpha Income Preferred Securities (NASDAQ: AIRTP) issued by Air T Funding, guaranteed by Air T, Inc. Used as a long-term capital source with 8% annual interest obligation and $2.00 annual dividend per share.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Annual | Alpha Income Preferred Securities (AIRTP) |
| Subscription | Monthly | Digital Solutions Subscriptions |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels6 records
Air T, Inc. product offering
Product offeringCore offering
Air T, Inc. is a holding company that owns and operates a networked portfolio of aviation-related businesses organized across five core segments: (1) Overnight Air Cargo services, primarily operating as contracted FedEx feeder carriers; (2) Commercial Aircraft, Engines & Parts, involving aircraft trading, leasing, and aftermarket parts; (3) Aviation Ground Support Equipment, manufacturing de-icing vehicles, catering trucks, and tow-tractors; (4) Regional Airline services through Regional Express (Rex) in Australia; and (5) Digital Solutions, providing aviation data analytics and software subscriptions. The company also operates Crestone Air Partners, an aviation asset management platform managing $3.6 billion in AUM.
Product overview
Air T, Inc. is a holding company with a networked portfolio of 20 companies organized across 5 core segments: (1) Overnight Air Cargo — providing air express delivery services primarily for FedEx through Mountain Air Cargo, CSA Air, Worldwide Aircraft Services, and Royal Aircraft Services; (2) Commercial Aircraft, Engines & Parts — engaged in aircraft trading, leasing, and aftermarket parts through Contrail, JetYard, Worthington Aviation, AirCo, and LGSS; (3) Aviation Ground Support Equipment — manufacturing mobile deicers and specialized equipment through Global Ground Support; (4) Regional Airline — operating Regional Express (Rex), Australia's leading regional airline with Saab 340 fleet; and (5) Digital Solutions — providing digital aviation services through WorldACD and Ambry Hill Technology. Additionally, Crestone Air Partners operates as a majority-owned aviation asset management platform with $3.6 billion in AUM following the Arena Aviation Capital acquisition.
Differentiator
Problem solved
Functional benefit
Brands
- Crestone Air Partners: Full-service aviation asset management platform that invests in commercial jet aircraft and engines on behalf of capital partners, targeting the last decade of asset lifecycle
- Mountain Air Cargo (MAC)
- CSA Air
- Global Ground Support (GGS)
- Contrail Aviation Support
- Regional Express (Rex)
Products and services
- Overnight Air Cargo Services
- Aircraft De-icing Equipment (Global Ground Support)
- Commercial Aircraft, Engines and Parts Trading
- Aviation Asset Management (Crestone Air Partners)
- Regional Airline Services (Regional Express / Rex)
- Digital Aviation Solutions
- Runway Aero Advisors
- Aircraft MRO and Painting Services (Royal Aircraft Services)
Quantifiable outcome
- Revenue grew 12% year-over-year to $327.1 million in FY2026, driven by Rex acquisition and organic segment performance
- +5 more outcomes
Companies that use Air T, Inc.
Customer profileNamed customers9 records
Segments6 records
Ideal customer profiles4 records
Air T, Inc. technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Air T, Inc. partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- Aviation Growth Initiatives (AGI)coreAGI is a management-affiliated entity formed by executives of Crestone Air Partners. In connection with the Arena acquisition, Air T and AGI acquired the MRC Parties' 10% common interest position in CAM at a pre-money valuation of $62 million for $6.2 million. AGI represents the Crestone management team's ongoing stake in the combined platform.
- Regional Express Holdings Limited (Rex) Management TeamcoreRex's management team, led by Neville Howell (CEO), continues to operate Rex post-acquisition. Air T cites the quality of the Rex management team as a primary driver of the acquisition decision. Arena Aviation Capital management will also retain key roles in the combined organization.
- Administrators of Regional Express HoldingscoreAdministrators of Rex's voluntary administration proceedings (since July 30, 2024) facilitated the competitive bidding process. Air T worked closely with administrators and the Australian Government to structure a solution serving all stakeholders, resulting in the December 18, 2025 closing.
Scale indicators24 records
Recent moves9 records
Expansion highlights6 records
Air T, Inc. competitors and assessment
Company assessmentBroad incumbents
- Air Lease Corporation: Air Lease Corporation is a major commercial aircraft lessor — comparable to Crestone's aircraft leasing operations, but focused on new-technology aircraft rather than the secondary/late-life market Crestone targets.
- AerCap Holdings N.V. AerCap is the world's largest aircraft leasing company — overlapping with Crestone Air Partners' asset management business, but operating at far greater scale across the full asset lifecycle rather than specializing in the late-life secondary market.
- TransDigm Group Incorporated: TransDigm designs and manufactures proprietary aerospace components with strong aftermarket positioning — adjacent to Air T's parts distribution and GSE businesses, though focused on proprietary component manufacturing rather than third-party parts trading.
- HEICO Corporation: HEICO is a leading aerospace parts aftermarket manufacturer and distributor with PMA parts and electronic technologies; comparable to Contrail, Worthington, and AirCo in the aerospace aftermarket, though at materially larger scale and broader scope.
Others
- GATX Corporation: GATX is a specialty finance and leasing company with rail, aircraft, and industrial equipment exposure — comparable to Crestone Air Partners' asset management/leasing structure and Air T's aviation-focused investment model.
Direct peers
- AAR CORP: AAR Corp is a diversified aviation services holding company operating in parts distribution, MRO, and integrated supply chain — directly comparable to Air T's Commercial Aircraft, Engines & Parts and GSE segments with similar aftermarket focus and FedEx/partnership customer base.
- Mesa Air Group, Inc. Mesa Air operates regional airline capacity under partner brands and has historically operated as a feeder carrier — comparable to Air T's Mountain Air Cargo and CSA Air FedEx feeder operations and to Rex's regional airline model in Australia.
- Willis Lease Finance Corporation: Willis Lease Finance operates one of the world's largest independent jet engine leasing portfolios — directly comparable to Crestone Air Partners' 124-aircraft/17-engine book and broadly similar secondary-market, late-life-cycle investment thesis.
- FTAI Aviation Ltd. FTAI combines engine aftermarket parts, leasing, and industrial operations — directly overlapping with Contrail's CFM56/V2500 focus and Crestone's aviation asset management platform, with shared exposure to the narrowbody engine aftermarket.
- SkyWest, Inc. SkyWest is the largest U.S. regional airline operating regional/commuter flights under major carrier brands — directly comparable to Rex's regional airline model in Australia, with similar fleet of smaller turboprops/regional jets serving lower-density routes.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Air T, Inc. social profiles
Digital presenceAir T, Inc. financial estimates
Financial estimateRevenue estimate
Valuation estimate
Air T, Inc. leadership team
Management profileNumber of profiles
Profiles14 records
Air T, Inc. subsidiaries and ownership
Company hierarchySubsidiaries15 records
Air T, Inc. funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Air T, Inc. M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Air T, Inc.
What does Air T, Inc. do?
Air T, Inc. is a holding company that owns and operates a networked portfolio of aviation-related businesses organized across five core segments: (1) Overnight Air Cargo services, primarily operating as contracted FedEx feeder carriers; (2) Commercial Aircraft, Engines & Parts, involving aircraft trading, leasing, and aftermarket parts; (3) Aviation Ground Support Equipment, manufacturing de-icing vehicles, catering trucks, and tow-tractors; (4) Regional Airline services through Regional Express (Rex) in Australia; and (5) Digital Solutions, providing aviation data analytics and software subscriptions. The company also operates Crestone Air Partners, an aviation asset management platform managing $3.6 billion in AUM.
Is Air T, Inc. a public or private company?
Air T, Inc. is a public company. It is classified as public and is currently operating.
When was Air T, Inc. founded?
Air T, Inc. was founded in 1980. It employs 501 to 1,000 people.
Where is Air T, Inc. based?
Air T, Inc. is headquartered in Minneapolis, United States, in the North America region.
How does Air T, Inc. make money?
Seven revenue lines are on record. Overnight Air Cargo Services are the primary driver. The others are ground Support Equipment Sales, commercial Aircraft, Engines and Parts, aviation Asset Management (Crestone Air Partners), digital Solutions, regional Airline (Rex) and trust Preferred Securities.
Who are Air T, Inc.'s main competitors?
Broad incumbents on record are Air Lease Corporation, AerCap Holdings N.V., TransDigm Group Incorporated and HEICO Corporation. GATX Corporation is listed as an others. Direct peers are AAR CORP, Mesa Air Group, Inc., Willis Lease Finance Corporation, FTAI Aviation Ltd. and SkyWest, Inc..
Does Air T, Inc. have an API?
No public API is recorded for Air T, Inc..
What industry is Air T, Inc. in?
Air T, Inc.'s product category is Aviation Holding Company Services. Its primary akta.pro industry code is IMABALAK, Parts Distribution & Spares Management (Aftermarket), with a secondary code of TLAIALAB, Aerospace & Defense. Its NAICS code is 48111 and its SIC code is 4522.