Mesa Air Group Reports Third Quarter Fiscal 2024 Results
Mesa Air Group reported Q3 fiscal 2024 results with total operating revenues of $110.8 million, an 8.0% increase in United Express contract revenue year-over-year. The company reported a pre-tax loss of $20.7 million and a net loss of $19.9 million, or $(0.48) per diluted share. Adjusted net loss was $9.4 million, or $(0.23) per diluted share.
Key updates include:
- Extended increased block-hour rate on E-175 flying with United through August 31, 2025
- Agreed to transition fleet to all E-175s by March 1, 2025
- Entered agreements to sell 23 CF34-8C engines for $33.5 million
- Generated $9.6 million from sale of Archer Aviation shares
Mesa ended the quarter with $16.3 million in unrestricted cash and $366.4 million in total debt.
Mesa Air Group ha riportato i risultati del terzo trimestre dell'anno fiscale 2024 con entrate operative totali di 110,8 milioni di dollari, un aumento dell'8,0% delle entrate contrattuali di United Express rispetto all'anno precedente. L'azienda ha riportato una perdita ante imposte di 20,7 milioni di dollari e una perdita netta di 19,9 milioni di dollari, ovvero $(0,48) per azione diluita. La perdita netta rettificata è stata di 9,4 milioni di dollari, pari a $(0,23) per azione diluita.
Le principali novità includono:
- Aumento del tasso per ora di volo per l'E-175 con United fino al 31 agosto 2025
- Accordo per la transizione della flotta a tutti E-175 entro il 1 marzo 2025
- Entrati in accordi per vendere 23 motori CF34-8C per 33,5 milioni di dollari
- Generato 9,6 milioni di dollari dalla vendita di azioni di Archer Aviation
Mesa ha concluso il trimestre con 16,3 milioni di dollari in contante non vincolato e 366,4 milioni di dollari di debito totale.
Mesa Air Group reportó los resultados del tercer trimestre del año fiscal 2024 con ingresos operativos totales de 110.8 millones de dólares, un aumento del 8.0% en los ingresos por contrato de United Express en comparación con el año anterior. La compañía reportó una pérdida antes de impuestos de 20.7 millones de dólares y una pérdida neta de 19.9 millones de dólares, o $(0.48) por acción diluida. La pérdida neta ajustada fue de 9.4 millones de dólares, o $(0.23) por acción diluida.
Las actualizaciones clave incluyen:
- Aumento de la tarifa por hora en los vuelos E-175 con United hasta el 31 de agosto de 2025
- Acordaron transitar la flota a todos E-175 para el 1 de marzo de 2025
- Firmaron acuerdos para vender 23 motores CF34-8C por 33.5 millones de dólares
- Generaron 9.6 millones de dólares de la venta de acciones de Archer Aviation
Mesa terminó el trimestre con 16.3 millones de dólares en efectivo no restringido y 366.4 millones de dólares en deuda total.
메사 항공 그룹이 2024 회계 연도 3분기 실적을 보고했으며, 총 운영 수익이 1억 1,080만 달러로, 유나이티드 익스프레스 계약 수익이 지난해 대비 8.0% 증가했습니다. 회사는 세전 손실이 2,070만 달러이며 순손실이 1,990만 달러, 즉 희석주당 $(0.48)이라고 보고했습니다. 조정된 순손실은 940만 달러, 즉 희석주당 $(0.23)입니다.
주요 업데이트는 다음과 같습니다:
- 2025년 8월 31일까지 유나이티드와 함께 E-175 비행에 대한 증가된 블록 시간 요금 연장
- 2025년 3월 1일까지 모든 E-175로 플릿 전환 합의
- 3,350만 달러에 23개의 CF34-8C 엔진 판매 계약 체결
- 아처 항공 주식 판매로 960만 달러 생성
메사는 분기를 1,630만 달러의 제한 없는 현금과 3억 6,640만 달러의 총 부채로 마감했습니다.
Mesa Air Group a annoncé les résultats du troisième trimestre de l'exercice 2024 avec des revenus d'exploitation totaux de 110,8 millions de dollars, soit une augmentation de 8,0 % des revenus des contrats United Express par rapport à l'année précédente. L'entreprise a enregistré une perte avant impôts de 20,7 millions de dollars et une perte nette de 19,9 millions de dollars, soit $(0,48) par action diluée. La perte nette ajustée était de 9,4 millions de dollars, soit $(0,23) par action diluée.
Les mises à jour clés incluent :
- Extension de l'augmentation du tarif horaire pour le vol E-175 avec United jusqu'au 31 août 2025
- Accord pour la transition de la flotte à tous les E-175 d'ici le 1er mars 2025
- Accords pour vendre 23 moteurs CF34-8C pour 33,5 millions de dollars
- Généré 9,6 millions de dollars provenant de la vente d'actions Archer Aviation
Mesa a terminé le trimestre avec 16,3 millions de dollars en liquidités non restreintes et 366,4 millions de dollars de dettes totales.
Mesa Air Group hat die Ergebnisse des dritten Quartals des Geschäftsjahres 2024 bekannt gegeben mit gesamten Betriebseinnahmen von 110,8 Millionen Dollar, was einem Anstieg von 8,0% bei den Vertrags Einnahmen von United Express im Jahresvergleich entspricht. Das Unternehmen meldete einen steuerlichen Verlust von 20,7 Millionen Dollar und einen Nettoverlust von 19,9 Millionen Dollar, oder $(0,48) pro verwässerter Aktie. Der bereinigte Nettoverlust betrug 9,4 Millionen Dollar, oder $(0,23) pro verwässerter Aktie.
Wichtige Aktualisierungen umfassen:
- Erhöhung des Blockstundenpreises für den E-175-Flug mit United bis zum 31. August 2025
- Vereinbarung zur Umstellung der Flotte auf alle E-175 bis zum 1. März 2025
- Verträge zur Verkauf von 23 CF34-8C-Triebwerken für 33,5 Millionen Dollar unterzeichnet
- Einnahmen von 9,6 Millionen Dollar aus dem Verkauf von Archer Aviation-Aktien generiert
Mesa schloss das Quartal mit 16,3 Millionen Dollar in unbeschränkten Zahlungsmitteln und 366,4 Millionen Dollar an Gesamtschulden ab.
- 8.0% increase in United Express contract revenue year-over-year
- Extended increased block-hour rate on E-175 flying with United through August 31, 2025
- United to reimburse costs up to $14 million associated with fleet transition
- Entered agreements to sell 23 CF34-8C engines for $33.5 million
- Generated $9.6 million from sale of Archer Aviation shares
- Positive adjusted EBITDAR of $10.6 million for Q3 2024
- Controllable completion factor of 99.94% for United during Q3 2024
- Pre-tax loss of $20.7 million
- Net loss of $19.9 million, or $(0.48) per diluted share
- Adjusted net loss of $9.4 million, or $(0.23) per diluted share
- Total operating revenues decreased by 3.4% year-over-year
- 3.3% fewer block hours compared to Q3 2023
- Total debt of $366.4 million as of June 30, 2024
Insights
Mesa Air Group's Q3 FY2024 results show mixed signals. While the company reported an 8.0% increase in United Express contract revenue, it still posted a net loss of
Key positives include:
- Extended increased block-hour rate on E-175 flying with United through August 2025
- Positive adjusted EBITDAR of
$10.6 million - Asset sales to reduce debt, including
$33.5 million from engine sales
However, challenges persist:
- Total operating revenues decreased by
3.4% year-over-year - Ongoing transition to an all E-175 fleet, which may impact short-term performance
- Substantial debt of
$366.4 million , though reduced from the previous year
The company's focus on fleet transition and cost control could lead to improved efficiency, but investors should monitor cash flow and debt levels closely in the coming quarters.
Mesa Air Group's strategic shift towards an all E-175 fleet is a significant move that could streamline operations and reduce costs in the long term. The agreement with United Airlines to accelerate this transition by March 1, 2025, with up to
Key operational highlights:
- 99.94% controllable completion factor, indicating strong operational reliability
- Improved block-hour rates with United, despite fewer block hours flown
- Potential for increased utilization as pilot resources are available for E-175 operations
However, the transition period may lead to short-term challenges:
- Lag in block-hours due to CRJ-900 removal and pilot training for E-175s
- Ongoing need to manage fleet mix and utilization efficiently
- Potential volatility in financial performance during the transition phase
The focus on a single fleet type could lead to operational efficiencies and cost savings, but the success of this strategy will depend on Mesa's ability to execute the transition smoothly and capitalize on the benefits of a unified fleet.
PHOENIX, Oct. 16, 2024 (GLOBE NEWSWIRE) -- Mesa Air Group, Inc. (NASDAQ: MESA) (“Mesa” or the “Company”) today reported third quarter fiscal 2024 financial and operating results.
Third Quarter Fiscal 2024 Update:
- Total operating revenues of
$110.8 million , United Express contract revenue8.0% higher year-over-year - Pre-tax loss of
$20.7 million , net loss of$19.9 million , or$(0.48) per diluted share - Adjusted net loss1 of
$9.4 million 2, or$(0.23) per diluted share - Adjusted EBITDAR1 of
$10.6 million - Operated at a
99.94% controllable completion factor3
United CPA and Fleet Update:
- Extended increased block-hour rate on E-175 flying in current United CPA through August 31, 2025
- At United’s request, agreed to accelerate transition of fleet to all E-175s by March 1, 2025
- United to reimburse costs up to
$14 million associated with transition - United to purchase two CRJ-700s formerly leased to a third party for total proceeds of
$11.0 million ,$4.5 million of which will pay down the related outstanding obligations - Mesa and United remain in discussions for an enhanced CPA to support long-term profitability
Additional Updates:
- During June quarter, entered agreements to sell 23 CF34-8C engines for total proceeds of
$33.5 million ,$29.0 million of which will pay down U.S. Treasury debt - Completed all asset transactions to eliminate RASPRO finance lease obligation
- Generated
$9.6 million from sale of approximately 2.3 million common shares of Archer Aviation, Inc. (“Archer”), originally acquired for$5.0 million , with Mesa still retaining up to approximately 1.17 million unvested equity warrants4 in Archer
“While we were pleased to experience an
“Importantly, we have extended the increased block-hour rate in our CPA with United into next year. United has also agreed to reimburse Mesa for expenses associated with the transition to fully flying E-175 aircraft. The updated financial terms and our ongoing planning with United is critical as we rebuild our E-175 fleet utilization and margin runway through fiscal year 2025. We currently have the pilot resources to fly increased E-175 block hours, and have started the process of recalling pilots from furlough in anticipation of improved aircraft utilization.
“While we are not yet providing a forecast for fiscal year 2025, our focus continues to be on increasing utilization and maintaining overall operational performance,” continued Ornstein. “As we transition into flying all E-175s, we will look to drive additional efficiencies from operating a single fleet type. We will also continue to consider longer-term financial and strategic opportunities to enhance the business.”
________________________
1 See Reconciliation of GAAP versus non-GAAP Disclosures
2 Adjusted net loss primarily excludes
3 Excludes cancellations due to weather and air traffic control
4 Vesting subject to Archer aircraft certification and the order and delivery of a specified number of aircraft
Third Quarter Fiscal 2024 Details
Total operating revenues in Q3 2024 were
Pass-through revenue decreased by
Total operating expenses in Q3 2024 were
Mesa’s Q3 2024 results reflect a net loss of
Mesa’s adjusted EBITDA1 for Q3 2024 was
Third Quarter Fiscal 2024 Operating Performance
Operationally, the Company reported a controllable completion factor of
For Q3 2024, approximately
Balance Sheet and Liquidity
Mesa ended the June quarter with
As of September 30, 2024, Mesa had
About Mesa Air Group, Inc.
Headquartered in Phoenix, Arizona, Mesa Air Group, Inc. is the holding company of Mesa Airlines, a regional air carrier providing scheduled passenger service to 65 cities in 33 states, the District of Columbia, Cuba, and Mexico. As of September 30, 2024, Mesa operated a fleet of 67 aircraft, with approximately 260 daily departures. The Company had approximately 1,838 employees. Mesa operates all its flights as United Express pursuant to the terms of a capacity purchase agreement entered into with United Airlines, Inc.
Important Cautions Regarding Forward-Looking Statements
This Press Release includes information that constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “might”, “will”, “should”, “can have”, “likely” and similar expressions are used to identify forward-looking statements. These forward-looking statements are based on the Company’s current beliefs, assumptions, and expectations regarding future events, which in turn are based on information currently available to the Company. By their nature, forward-looking statements address matters that are subject to risks and uncertainties. A variety of factors could cause actual events and results to differ materially from those expressed in or contemplated by the forward-looking statements. These factors include, without limitation, the Company’s ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq, the Company’s ability to regain compliance with Listing Rule, the Company’s ability to become current with its reports with the SEC, and the risk that the completion and filing of the Form 10-Qs will take longer than expected. For additional information about factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to the Company’s filings with the SEC, including the risk factors contained in its most recent Annual Report on Form 10-K and the Company’s other subsequent filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.
Contact:
Mesa Air Group, Inc.
Media
media@mesa-air.com
Investor Relations
investor.relations@mesa-air.com
MESA AIR GROUP, INC.
Consolidated Statements of Operations and Comprehensive (Loss) Income
(In thousands, except per share amounts) (Unaudited)
| Three months ended June 30, | Nine months ended June 30, | ||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||
| Operating revenues: | |||||||||||||
| Contract revenue | $ | 95,596 | $ | 94,356 | $ | 310,516 | $ | 326,588 | |||||
| Pass-through and other revenue | 15,197 | 20,335 | 50,636 | 57,111 | |||||||||
| Total operating revenues | 110,793 | 114,691 | 361,152 | 383,699 | |||||||||
| Operating expenses: | |||||||||||||
| Flight operations | 45,455 | 51,557 | 146,602 | 164,707 | |||||||||
| Maintenance | 44,266 | 51,072 | 137,165 | 145,344 | |||||||||
| Aircraft rent | 1,684 | 864 | 4,296 | 5,782 | |||||||||
| General and administrative | 9,715 | 11,346 | 32,857 | 38,872 | |||||||||
| Depreciation and amortization | 9,730 | 15,316 | 32,846 | 47,060 | |||||||||
| Asset impairment | 7,880 | 30,489 | 50,923 | 50,951 | |||||||||
| Loss/(Gain) on sale of assets | — | (6,722 | ) | 150 | (7,271 | ) | |||||||
| Other operating expenses | 1,090 | 999 | 5,098 | 2,358 | |||||||||
| Total operating expenses | 119,820 | 154,921 | 409,937 | 447,803 | |||||||||
| Operating loss | (9,027 | ) | (40,230 | ) | (48,785 | ) | (64,104 | ) | |||||
| Other income (expense), net: | |||||||||||||
| Interest expense | (9,032 | ) | (12,015 | ) | (30,832 | ) | (36,321 | ) | |||||
| Interest income | 17 | 8 | 45 | 128 | |||||||||
| (Loss)/Gain on investments | (776 | ) | — | 6,454 | — | ||||||||
| Unrealized (Loss)/Gain on investments, net | (2,025 | ) | 2,859 | (6,073 | ) | 3,275 | |||||||
| Gain on extinguishment of debt | — | — | 2,954 | — | |||||||||
| Gain on debt forgiveness | — | — | 10,500 | — | |||||||||
| Other income (expense), net | 125 | (946 | ) | (234 | ) | (540 | ) | ||||||
| Total other expense, net | (11,691 | ) | (10,094 | ) | (17,186 | ) | (33,458 | ) | |||||
| Loss before taxes | (20,718 | ) | (50,324 | ) | (65,971 | ) | (97,562 | ) | |||||
| Income tax expenses (benefit) | (810 | ) | (2,764 | ) | 126 | (5,791 | ) | ||||||
| Net loss | $ | (19,908 | ) | $ | (47,560 | ) | $ | (66,097 | ) | $ | (91,771 | ) | |
| Net loss per share attributable to common shareholders | |||||||||||||
| Basic | $ | (0.48 | ) | $ | (1.17 | ) | $ | (1.61 | ) | $ | (2.35 | ) | |
| Diluted | $ | (0.48 | ) | $ | (1.17 | ) | $ | (1.61 | ) | $ | (2.35 | ) | |
| Weighted-average common shares outstanding | |||||||||||||
| Basic | 41,217 | 40,688 | 41,075 | 38,986 | |||||||||
| Diluted | 41,217 | 40,688 | 41,075 | 38,986 | |||||||||
MESA AIR GROUP, INC.
Consolidated Balance Sheets
(In thousands, except shares) (Unaudited)
| June 30, 2024 | September 30, 2023 | |||||||
| ASSETS | ||||||||
| CURRENT ASSETS: | ||||||||
| Cash and cash equivalents | $ | 16,302 | $ | 32,940 | ||||
| Restricted cash | 2,983 | 3,132 | ||||||
| Marketable securities | 5,442 | — | ||||||
| Receivables, net | 5,953 | 8,253 | ||||||
| Expendable parts and supplies, net | 30,652 | 29,245 | ||||||
| Assets held for sale | 20,151 | 57,722 | ||||||
| Prepaid expenses and other current assets | 3,425 | 7,294 | ||||||
| Total current assets | 84,908 | 138,586 | ||||||
| Property and equipment, net | 497,914 | 698,022 | ||||||
| Lease and equipment deposits | 1,289 | 1,630 | ||||||
| Operating lease right-of-use assets | 7,247 | 9,709 | ||||||
| Deferred heavy maintenance, net | 7,209 | 7,974 | ||||||
| Assets held for sale | 57,229 | 12,000 | ||||||
| Other assets | 8,569 | 30,546 | ||||||
| TOTAL ASSETS | $ | 664,365 | $ | 898,467 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| CURRENT LIABILITIES: | ||||||||
| Current portion of long-term debt and finance leases | $ | 72,769 | $ | 163,550 | ||||
| Current portion of deferred revenue | 4,443 | 4,880 | ||||||
| Current maturities of operating leases | 2,212 | 3,510 | ||||||
| Accounts payable | 64,409 | 58,957 | ||||||
| Accrued compensation | 11,180 | 10,008 | ||||||
| Other accrued expenses | 32,481 | 27,001 | ||||||
| Total current liabilities | 187,494 | 267,906 | ||||||
| NONCURRENT LIABILITIES: | ||||||||
| Long-term debt and finance leases, excluding current portion | 287,749 | 364,728 | ||||||
| Noncurrent operating lease liabilities | 6,412 | 8,077 | ||||||
| Deferred credits | 3,275 | 4,617 | ||||||
| Deferred income taxes | 8,059 | 8,414 | ||||||
| Deferred revenue, net of current portion | 7,963 | 16,167 | ||||||
| Other noncurrent liabilities | 28,526 | 28,522 | ||||||
| Total noncurrent liabilities | 341,984 | 430,525 | ||||||
| Total liabilities | 529,478 | 698,431 | ||||||
| STOCKHOLDERS' EQUITY: | ||||||||
| Common stock of no par value and additional paid-in capital, 125,000,000 shares authorized; 41,312,204 (2024) and 40,940,326 (2023) shares issued and outstanding, 4,899,497 (2024) and 4,899,497 (2023) warrants issued and outstanding | 272,104 | 271,155 | ||||||
| Accumulated deficit | (137,217 | ) | (71,119 | ) | ||||
| Total stockholders' equity | 134,887 | 200,036 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 664,365 | $ | 898,467 | ||||
MESA AIR GROUP, INC.
Operating Highlights
(Unaudited)
| Three months ended | |||||||||
| June 30, | |||||||||
| 2024 | 2023 | Change | |||||||
| Available seat miles (thousands) | 962,669 | 1,002,945 | (4.0 | )% | |||||
| Block hours | 43,813 | 45,301 | (3.3 | )% | |||||
| Average stage length (miles) | 535 | 555 | (3.6 | )% | |||||
| Departures | 24,144 | 24,555 | (1.7 | )% | |||||
| Passengers | 1,513,581 | 1,500,634 | 0.9 | % | |||||
| Controllable completion factor* | |||||||||
| United | 99.94 | % | 98.83 | % | 1.1 | % | |||
| Total completion factor** | |||||||||
| United | 96.86 | % | 96.39 | % | 0.5 | % | |||
*Controllable completion factor excludes cancellations due to weather and air traffic control
**Total completion factor includes all cancellations
Reconciliation of non-GAAP financial measures
Although these financial statements are prepared in accordance with accounting principles generally accepted in the U.S. ("GAAP"), certain non-GAAP financial measures may provide investors with useful information regarding the underlying business trends and performance of Mesa's ongoing operations and may be useful for period-over-period comparisons of such operations. The tables below reflect supplemental financial data and reconciliations to GAAP financial statements for the three and nine months ended June 30, 2024 and June 30, 2023. Readers should consider these non-GAAP measures in addition to, not a substitute for, financial reporting measures prepared in accordance with GAAP. These non-GAAP financial measures exclude some, but not all items that may affect the Company's net income or loss. Additionally, these calculations may not be comparable with similarly titled measures of other companies.
1Reconciliation of GAAP versus non-GAAP Disclosures
(In thousands, except for per diluted share) (Unaudited)
| Three Months Ended June 30, 2024 | Three Months Ended June 30, 2023 | ||||||||||||||||||||||||
| Income (Loss) Before Taxes | Income Tax (Expense) Benefit | Net Income (Loss) | Net Income (Loss) per Diluted Share | Income (Loss) Before Taxes | Income Tax (Expense) Benefit | Net Income (Loss) | Net Income (Loss) per Diluted Share | ||||||||||||||||||
| GAAP income (loss) | $ | (20,718 | ) | $ | 810 | $ | (19,908 | ) | $ | (0.48 | ) | $ | (50,324 | ) | $ | 2,764 | $ | (47,560 | ) | $ | (1.17 | ) | |||
| Adjustments(1)(2)(3)(4)(5)(6)(7)(8) | 10,921 | (427 | ) | 10,494 | $ | 0.25 | 21,239 | (884 | ) | 20,355 | $ | 0.50 | |||||||||||||
| Adjusted loss | (9,797 | ) | 383 | (9,414 | ) | $ | (0.23 | ) | (29,085 | ) | 1,880 | (27,205 | ) | $ | (0.67 | ) | |||||||||
| Interest expense | 9,032 | 12,015 | |||||||||||||||||||||||
| Interest income | (17 | ) | (8 | ) | |||||||||||||||||||||
| Depreciation and amortization | 9,730 | 15,316 | |||||||||||||||||||||||
| Adjusted EBITDA | 8,948 | (1,762 | ) | ||||||||||||||||||||||
| Aircraft rent | 1,684 | 864 | |||||||||||||||||||||||
| Adjusted EBITDAR | $ | 10,632 | $ | (898 | ) | ||||||||||||||||||||
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| Nine Months Ended June 30, 2024 | Nine Months Ended June 30, 2023 | ||||||||||||||||||||||||
| Income (Loss) Before Taxes | Income Tax (Expense) Benefit | Net Income (Loss) | Net Income (Loss) per Diluted Share | Income (Loss) Before Taxes | Income Tax (Expense) Benefit | Net Income (Loss) | Net Income (Loss) per Diluted Share | ||||||||||||||||||
| GAAP income (loss) | $ | (65,971 | ) | $ | (126 | ) | $ | (66,097 | ) | $ | (1.61 | ) | $ | (97,562 | ) | $ | 5,791 | $ | (91,771 | ) | $ | (2.35 | ) | ||
| Adjustments(1)(2)(3)(4)(5)(6)(7)(8)(9)(10)(11) | 43,138 | 82 | 43,220 | $ | 1.05 | 41,398 | (2,459 | ) | 38,939 | $ | 1.00 | ||||||||||||||
| Adjusted income loss | (22,833 | ) | (44 | ) | (22,877 | ) | $ | (0.56 | ) | (56,164 | ) | 3,332 | (52,832 | ) | $ | (1.36 | ) | ||||||||
| Interest expense | 30,832 | 36,321 | |||||||||||||||||||||||
| Interest income | (45 | ) | (128 | ) | |||||||||||||||||||||
| Depreciation and amortization | 32,846 | 47,060 | |||||||||||||||||||||||
| Adjusted EBITDA | 40,800 | 27,089 | |||||||||||||||||||||||
| Aircraft rent | 4,296 | 5,782 | |||||||||||||||||||||||
| Adjusted EBITDAR | $ | 45,096 | $ | 32,871 | |||||||||||||||||||||
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Source: Mesa Air Group, Inc.
FAQ
What was Mesa Air Group's revenue for Q3 fiscal 2024?
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What was Mesa Air Group's (MESA) controllable completion factor for United in Q3 2024?
