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Segment Information
9 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company has four business segments: overnight air cargo, ground equipment sales, commercial jet engine and parts segment and corporate and other. Segment data is summarized as follows (in thousands):
(In Thousands)Three Months Ended
December 31,
Nine Months Ended
December 31,
2023202220232022
Operating Revenues by Segment:
Overnight Air Cargo
Domestic$28,818 $21,831 $84,054 $64,464 
International200 — 890 — 
Total Overnight Air Cargo29,018 21,831 84,944 64,464 
Ground Equipment Sales:
Domestic8,178 16,009 28,709 34,830 
International263 138 3,765 5,151 
Total Ground Equipment Sales8,441 16,147 32,474 39,981 
Commercial Jet Engines and Parts:
Domestic15,967 13,704 66,698 42,047 
International8,172 8,032 23,765 21,530 
Total Commercial Jet Engines and Parts24,139 21,736 90,463 63,577 
Corporate and Other:
Domestic935 565 2,873 2,092 
International1,223 1,117 3,400 2,832 
Total Corporate and Other2,158 1,682 6,273 4,924 
Total63,756 61,396 214,154 172,946 
Operating Income (Loss):
Overnight Air Cargo1,594 1,009 5,568 2,931 
Ground Equipment Sales(522)1,093 (619)3,122 
Commercial Jet Engines and Parts(627)733 2,002 3,603 
Corporate and Other(2,053)(2,700)(7,140)(8,509)
Total(1,608)135 (189)1,147 
Capital Expenditures:
Overnight Air Cargo60 37 263 228 
Ground Equipment Sales24 16 82 32 
Commercial Jet Engines and Parts24 132 166 484 
Corporate and Other12 60 167 293 
Total120 245 678 1,037 
Depreciation and Amortization:
Overnight Air Cargo95 22 269 64 
Ground Equipment Sales37 35 107 130 
Commercial Jet Engines and Parts185 721 565 1,717 
Corporate and Other382 319 1,147 1,073 
Total$699 $1,097 $2,088 $2,984 

The table below provides a reconciliation of operating income (loss) to Adjusted EBITDA for the nine months ended December 31, 2023 and 2022 (in thousands):
Nine Months Ended December 31, 2023
Total
Operating loss$(189)
Depreciation and amortization (excluding leased engines depreciation)2,088 
Asset impairment, restructuring or impairment charges326 
Gain on sale of property and equipment(7)
TruPs issuance expenses277 
Adjusted EBITDA$2,495 

Nine Months Ended December 31, 2022
Total
Operating income$1,147 
Depreciation and amortization (excluding leased engines depreciation)1,810 
Asset impairment, restructuring or impairment charges2,174 
Gain on sale of property and equipment(2)
TruPs issuance expenses38 
Adjusted EBITDA$5,167