Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Dec. 31, 2017	Mar. 31, 2017
Current Assets:
Cash and cash equivalents	$ 7,985,088	$ 2,763,365	[1]
Marketable securities	1,363,540	2,130,544	[1]
Restricted cash	890,369	890,369	[1]
Accounts receivable	16,718,738	18,923,787	[1]
Notes and other receivables-current	1,183,002	2,297,007	[1]
Income tax receivable	1,006,531	402,688	[1]
Inventories, net	19,667,205	19,778,843	[1]
Prepayments and other	1,435,265	1,672,475	[1]
Total Current Assets	50,249,738	48,859,078	[1]
Investments in Available-For-Sale Securities	2,268,072	2,463,123	[1]
Property and equipment, net	18,138,660	5,324,488	[1]
Cash surrender value of life insurance policies	2,369,704	2,251,450	[1]
Notes and other receivables-long-term		66,771	[1]
Deferred income taxes	155,302	204,000	[1]
Investments in funds	227,000		[1]
Other assets	1,028,783	371,975	[1]
Intangible assets, net	1,156,987	1,376,699	[1]
Goodwill	4,417,605	4,417,605	[1]
Total Assets	80,011,851	65,335,189	[1]
Current Liabilities:
Accounts payable	9,575,439	11,571,156	[1]
Accrued expenses and other current liabilities	8,112,945	8,672,815	[1]
Short-term debt	2,500,000	25,000	[1]
Total Current Liabilities	20,188,384	20,268,971	[1]
Long-term debt	32,304,523	18,412,521	[1]
Deferred income taxes		8,000	[1]
Other non-current liabilities	2,375,349	3,039,402	[1]
Total Liabilities	54,868,256	41,728,894	[1]
Redeemable non-controlling interest	1,997,559	1,443,901	[1]
Commitments and Contingencies (Notes 2, 8 and 12)
Equity:
Preferred stock, $1.00 par value, 50,000 shares authorized			[1]
Common stock, $.25 par value; 4,000,000 shares authorized, 2,042,789 shares issued and outstanding	510,696	510,696	[1]
Additional paid-in capital	4,163,436	4,205,536	[1]
Retained earnings	19,137,023	18,461,347	[1]
Accumulated other comprehensive loss	117,580	(212,047)	[1]
Total Air T, Inc. Stockholders' Equity	23,928,735	22,965,532	[1]
Non-controlling Interests	(782,699)	(803,138)	[1]
Total Equity	23,146,036	22,162,394	[1]
Total Liabilities and Equity	$ 80,011,851	$ 65,335,189	[1]

[1] Derived from audited consolidated financial statements