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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON , D.C. 20549 FORM 10 - Q ( Mark one ) × Quarterly Report Pursuant to Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 for the quarterly period ended September 30 , 2021 Transition Report Pursuant to Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 for the transition period from Delaware Commission File Number 001-35476 Air T , Inc. ( Exact name of registrant as specified in its charter ) ( State or other jurisdiction of incorporation or organization ) 52-1206400 to ( I.R.S. Employer Identification No. ) 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 ) Title of each class Common Stock Securities registered pursuant to Section 12 ( b ) of the Act : Trading Symbol ( s ) Name of each exchange on which registered AIRT NASDAQ Global Market Alpha Income Preferred Securities ( also referred to as 8 % Cumulative Capital Securities ) ( “ AIP ” ) AIRTP NASDAQ Global Market 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 X No ☐ Indicate by check mark whether the registrant has submitted electronically , every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S - T ( §232.405 of this chapter ) during the preceding 12 months ( or for such shorter period that the registrant was required to submit such files ) . No ☐ Yes x Indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer , a smaller reporting company or an emerging growth company . See the definitions of “ large accelerated filer " , " accelerated filer ” , “ smaller reporting company ” , and “ emerging growth company " Rule 12b - 2 the Exchange Act . in Large accelerated filer Non - accelerated filer ☑ of Accelerated filer Smaller reporting company ☑ Emerging growth company If an emerging growth company , indicate by check mark if the registrant has elected not to use the extended transition period for complying with or revised financial accounting standards provided pursuant to Section 13 ( a ) of the Exchange Act . ☐ any new