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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549 FORM 10 - K ( Mark one ) □ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 March 31 , 2021 For the fiscal year ended or □ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-35476 Air T , Inc. ( Exact name of registrant as specified in its charter ) Delaware State or other jurisdiction of incorporation or organization 52-1206400 ( I.R.S. Employer Identification No. ) Title of each class Common Stock 5930 Balsom Ridge Road , Denver , North Carolina 28037 ( Address of principal executive offices , including zip code ) ( 828 ) 464-8741 ( Registrant's telephone number , including area code ) Securities registered pursuant to Section 12 ( b ) of the Act : Alpha Income Preferred Securities ( also referred to as 8 % Cumulative Capital Securities ) ( " AIP " ) * Warrant to Purchase AIP * * Issued by Air T Funding Trading Symbol ( s ) AIRT Name of each exchange on which registered NASDAQ Stock Market AIRTP NASDAQ Stock Market AIRTW NASDAQ Stock Market Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act . Yes No ☑ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15 ( d ) of the Act . Yes No ☑ Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirements for the past 90 days . Yes > No □