The diagram was obtained by Nowhereelse.fr from a source who has been correct two out of three times in the past.
The sketch [below] tells us that the Air iPad 3 should be in the form of an iPad Pro small. The presence of four integrated speakers to the ends of bottom and top as a feature until now reserved for the towering Californian tablet 12.9 inches.
It's rumored that Apple may be working towards the unveiling of the iPad Air 3 in March at the same time as a 4-inch iPhone and some Apple Watch updates.
Check out the image below and follow iClarified on Twitter, Facebook, Google+, or RSS for more updates.