Note 12 - Financing Arrangements (Tables)

12 Months Ended

Mar. 31, 2019

Notes Tables

Schedule of Debt [Table Text Block]

	March 31, 2019			March 31, 2018			Maturity Date	Interest Rate		Priority	Unused commitments
Revolver	$	12,403,213		$	-		November 30, 2019		Prime - 1%	Secured	$	4,596,787
Term Note A		8,750,000			9,750,000		January 1, 2028		1-month LIBOR + 2%	Secured
Term Note B		4,375,000			4,875,000		January 1, 2028		4.50%	Secured
Term Note D		1,607,200			1,674,400		January 1, 2028		1-month LIBOR + 2%	Secured
Air T Debt - MBT		27,135,413			16,299,400
Revolver		3,820,000			5,000,000		May 21, 2019		7.50%	Secured		1,180,000
Term Loan		-			2,404,775		March 26, 2019		7.25%	Secured
Term Loan		450,000			-		December 17, 2019		7.50%	Secured
Term Loan		400,000			-		June 17, 2020		7.25%	Secured
Term Loan		2,100,000			-		June 17, 2020		8.50%
AirCo Debt - MBT		6,770,000			7,404,775
Revolver		-			14,826,062		May 5, 2019		1-month LIBOR + 3%	Secured		20,000,000
Term Loan		8,616,336			9,920,000		January 26, 2021		1-month LIBOR + 3.75%	Secured
Term Loan		15,500,000			-		September 14, 2021		1-month LIBOR + 3.75%	Secured
Contrail Debt - Old National		24,116,336			24,746,062
Total Debt		58,021,749			48,450,238
Less: Unamortized Debt Issuance Costs		(368,760	)		(365,288	)
Total Debt, net	$	57,652,989		$	48,084,950

Schedule of Maturities of Long-term Debt [Table Text Block]

Fiscal year ended	Amount
2020	$	24,735,224
2021		18,188,725
2022		5,067,200
2023		1,567,200
2024		1,567,200
Thereafter		6,896,200
		58,021,749
Less: Unamortized Debt Issuance Costs		(368,760	)
	$	57,652,989

Interest Income and Interest Expense Disclosure [Table Text Block]

	March 31, 2019			March 31, 2018
Contractual interest		3,290,788			1,695,898
Amortization of deferred financing costs		193,942			90,028
Interest income		(57,628	)		(61,154	)
Total		3,427,102			1,724,771