AIR T INC
For the period ended Jun 30, 2026. Filed Aug 14, 2026.
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Jun 30, 2026 · Filed Aug 14, 2026
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Debt Investments
- Debt Investments
The Company participates in profit participation notes receivable ("PPN") as part of the Company's investment strategy in association with its aircraft investments. The Company has subscribed to one PPN with Blue Crest Prospector Pico Duarte DAC ("Pico Duarte") and a second PPN with Blue Crest Aerie 1 DAC ("Aerie"). The issuer of the PPN utilizes the funds received to purchase aircraft investments that are on lease with a third party to generate income to repay the PPNs with interest. The Pico Duarte PPN does not have a stated interest rate, but accrues interest at 100% of the associated profits, as dictated by the respective agreements. The Aerie PPN accrues interest at the greater of 4.0% per annum or 100% of the accumulated net accounting profits, as dictated by the respective agreement. The following table summarizes the terms of the related notes in addition to the principal outstanding (in thousands):
| Principal Outstanding | ||||
|---|---|---|---|---|
| PPN | 6/30/2026 | 3/31/2026 | Maximum Participation | Maturity Date |
| Pico Duarte | $4,808 | $9,286 | $20,000 | 2/22/2046 |
| Aerie | 3,484 | — | 4,000 | 3/30/2046 |
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