Note 10 - Business Combinations (Tables)

12 Months Ended

Mar. 31, 2019

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
Other assets		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		(24,301	)
Total consideration	$	3,325,699

Business Combination, Revenue and Expense Transactions [Table Text Block]

	Income Statement
	Post-Acquisition
Revenue	$	15,563,192
Cost of Sales		10,919,841
Operating Expenses		4,364,349
Operating Income		279,002
Non-operating Income		1,808,211
Net Income	$	2,087,213

Business Acquisition, Pro Forma Information [Table Text Block]

	Pro-Forma			Pro-Forma
	Year ended			Year ended
	March 31, 2019			March 31, 2018
Revenue	$	251,278,349		$	209,706,935
Earnings before taxes		7,881,644			3,594,265
Net income (loss) attributable to Air T, Inc. stockholders		(766,674	)		3,734,452
Basic income (loss) per share		(0.38	)		1.83
Dilutive income (loss) per share	$	(0.38	)	$	1.82

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