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Condensed Consolidated Statements of Income (Loss) (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Operating Revenues:        
Operating Revenues $ 49,340,777 $ 48,861,490 $ 110,208,246 $ 96,558,863
Operating Expenses:        
Overnight air cargo 15,349,754 15,919,557 30,524,150 30,481,700
Ground equipment sales 10,979,913 13,273,845 15,917,225 18,028,060
Ground support services 8,022,462 6,982,270 15,827,671 14,400,663
Printing equipment and maintenance 48,903 1,082,751 194,431 2,583,807
Commercial jet engines and parts 5,662,788 3,321,385 25,783,906 13,391,235
Research and development 195,653
General and administrative 9,070,053 7,276,486 17,654,856 13,861,154
Depreciation, amortization and impairment 1,826,905 529,538 3,322,306 928,365
50,960,778 48,385,832 109,224,545 93,870,637
Operating Income (Loss) (1,620,001) 475,658 983,701 2,688,226
Non-operating Income (Expense):        
Foreign currency gain (loss), net 50 (60,482) (2,132) (249,106)
Other-than-temporary impairment loss on investments (771,173)
Other investment income (loss), net 277,923 42,150 (37,584) 72,801
Interest expense (714,091) (322,199) (1,421,290) (471,718)
Gain on asset retirement obligation 562,500 562,500
Unrealized gain on interest rate swap 47,885 145,222
Bargain purchase acquisition gain 1,983,777 501,880
Income from equity method investments 160,558 61,840 169,741 29,937
Other income, net 27,686 27,686
(199,989) 283,809 865,420 (324,879)
Income (Loss) Before Income Taxes (1,819,990) 759,467 1,849,121 2,363,347
Income Taxes (Benefit) (393,000) 281,000 (6,000) 655,000
Net Income (Loss) (1,426,990) 478,467 1,855,121 1,708,347
Net (Income) Loss Attributable to Non-controlling Interests 105,805 (56,766) (347,612) (318,257)
Net Income (Loss) Attributable to Air T, Inc. Stockholders $ (1,321,185) $ 421,701 $ 1,507,509 $ 1,390,090
Income (Loss) Per Share:        
Basic (in dollars per share) $ (0.65) $ 0.21 $ 0.74 $ 0.68
Diluted (in dollars per share) $ (0.65) $ 0.21 $ 0.74 $ 0.68
Weighted Average Shares Outstanding:        
Basic (in shares) 2,043,823 2,042,789 2,043,716 2,042,789
Diluted (in shares) 2,043,823 2,046,945 2,049,393 2,047,305
Overnight Air Cargo [Member]        
Operating Revenues:        
Operating Revenues $ 17,064,600 $ 18,081,073 $ 34,705,258 $ 34,823,248
Ground Equipment Sales [Member]        
Operating Revenues:        
Operating Revenues 12,838,796 15,516,109 19,223,577 21,465,765
Ground Support Services [Member]        
Operating Revenues:        
Operating Revenues 8,474,037 8,801,326 17,521,677 17,914,399
Printing Equipment and Maintenance [Member]        
Operating Revenues:        
Operating Revenues 139,945 1,302,922 438,768 4,434,303
Commercial Jet Engines Inventory [Member]        
Operating Revenues:        
Operating Revenues 10,642,791 5,125,244 37,962,966 17,850,585
Corporate Segment [Member]        
Operating Revenues:        
Operating Revenues $ 180,608 $ 34,816 $ 356,000 $ 70,563