SEGMENT INFORMATION

12 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

SEGMENT INFORMATION

SEGMENT INFORMATION

The Company has four reportable segments: overnight air cargo, ground equipment sales, commercial jet engine and parts and corporate and other. Segment data is summarized as follows (in thousands):

(In Thousands)	Year Ended March 31,
	2023		2022
Operating Revenues:
Overnight Air Cargo:
Domestic	$	90,370	$	65,441
International	173		8,968
Total Overnight Air Cargo	90,543		74,409
Ground Equipment Sales:
Domestic	38,652		35,089
International	9,833		7,150
Total Ground Equipment Sales	48,485		42,239
Commercial Jet Engines and Parts:
Domestic	67,599		40,798
International	34,138		16,891
Total Commercial Jet Engines and Parts	101,737		57,689
Corporate and Other:
Domestic	2,952		1,571
International	3,606		1,169
Total Corporate and Other	6,558		2,740
Total	247,323		177,077
Operating (Loss) Income:
Overnight Air Cargo	4,047		2,794
Ground Equipment Sales	3,141		3,220
Commercial Jet Engines and Parts	(957)		3,619
Corporate and Other	(10,638)		(878)
Total	(4,407)		8,755
Capital Expenditures:
Overnight Air Cargo	307		148
Ground Equipment Sales	35		156
Commercial Jet Engines and Parts	572		1,204
Corporate and Other	293		50
Total	1,207		1,558
Depreciation and Amortization:
Overnight Air Cargo	115		58
Ground Equipment Sales	164		234
Commercial Jet Engines and Parts	2,382		965
Corporate and Other	1,501		603
Total	$	4,162	$	1,860

The table below provides a reconciliation of operating income (loss) to Adjusted EBITDA by reportable segment for the fiscal year ended March 31, 2023 and 2022 (in thousands):

	Fiscal year 2023
	Overnight Air Cargo		Ground Equipment Sales		Commercial Jet Engines and Parts			Corporate and Other		Total
Operating income (loss) from continuing operations	$	4,047	$	3,141	$	(957)		$	(10,638)	$	(4,407)
Depreciation and amortization (excluding leased engines depreciation)	115		164		745			1,501		2,525
Asset impairment, restructuring or impairment charges	342		—		7,319		7	179		7,840
Loss (Gain) on sale of property and equipment	1		9		(2)			—		8
Securities expenses	—		—		—			63		63
Adjusted EBITDA	$	4,505	$	3,314	$	7,105		$	(8,895)	$	6,029

	Fiscal year 2022
	Overnight Air Cargo		Ground Equipment Sales		Commercial Jet Engines and Parts		Corporate and Other		Total
Operating income (loss) from continuing operations	$	2,794	$	3,220	$	3,619	$	(878)	$	8,755
Depreciation and amortization (excluding leased engines depreciation)	58		234		694		603		1,589
Asset impairment, restructuring or impairment charges	—		—		885		(80)		805
Loss on sale of property and equipment	2		1		2		—		5
Securities expenses	—		—		—		252		252
Adjusted EBITDA	$	2,854	$	3,455	$	5,200	$	(103)	$	11,406