Note 3 - Business Combinations (Tables)

3 Months Ended

Jun. 30, 2018

Worthington Aviation Parts, Inc [Member]

Notes Tables

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

	May 4, 2018
ASSETS
Accounts receivable	$	1,929,120
Inventories		4,564,437
Other current assets		149,792
Property and equipment		391,892
Investment in JVs		189,607
Intangible assets - tradename		138,000
Total assets		7,362,848
LIABILITIES
Accounts payable		1,289,150
Accrued expenses		175,222
Deferred tax liability		589,000
Total liabilities		2,053,372
Net Assets Acquired	$	5,309,476
Consideration paid	$	3,350,000
Less: Cash acquired		(24,301	)
Bargain purchase gain	$	1,983,777

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

Earnest money	$	50,000
Cash consideration		3,300,000
Cash acquired		(24,300	)
Total consideration	$	3,325,700

Business Acquisition, Pro Forma Information [Table Text Block]

	Pro-Forma Three		Pro-Forma Three
	Months Ended		Months Ended
	June 30, 2018		June 30, 2017
Revenue	$	62,311,340	$	51,212,373
Operating income		2,399,435		1,985,814
Net income Attributable to Air T, Inc. Stockholders		701,272		2,749,338
Basic income per share		0.34		1.35
Dilutive income per share	$	0.34	$	1.34

Acquired Inventory and Principal Business Assets, and Assumed Specified Liabilities, of Aircraft Instrument and Radio Company, Incorporated, and Aircraft Instrument and Radio Services, Inc. [Member]

Notes Tables

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

	May 2, 2017
Assets acquired and liabilities assumed at fair value:
Accounts receivables	$	748,936
Inventories		3,100,000
Property and equipment		26,748
Accounts payable		(313,117	)
Accrued expenses		(382,687	)
Net assets acquired	$	3,179,880
Net assets acquired		3,179,880
Consideration paid		2,400,000
Bargain purchase gain	$	779,880