Mesa Air Group, Inc. - MESA STOCK NEWS

Mesa Air Group (NASDAQ: MESA) announced a restructuring plan due to ongoing unprofitable operations with American Airlines, largely driven by higher pilot wages and penalties. The company will cease operations with American on April 3, 2023, and finalize a five-year agreement with United Airlines, potentially increasing its fleet to 38 CRJ-900 aircraft. The agreement aims to boost revenue and improve financial stability, adding 100 regional jet flights to United's network. Mesa is also finalizing the sale of 19 aircraft to enhance liquidity and reduce debt.

Mesa Air Group (NASDAQ: MESA) announced it will file a Form 12b-25 with the SEC, granting an additional 15 days to submit its annual report (2022 10-K) for the fiscal year ending September 30, 2022. The initial deadline was December 14, 2022, and the new deadline is December 29, 2022. The company is also canceling its scheduled earnings release and call originally set for December 12, 2022. Mesa operates as a regional air carrier with a fleet of 158 aircraft, servicing 107 cities across the U.S., the Bahamas, and Mexico, under capacity purchase agreements with major airlines.

Mesa Air Group, Inc. (NASDAQ: MESA) is set to release its 2022 fourth quarter and fiscal year-end earnings on December 12, 2022, after market close. The company will also host a conference call at 4:30 PM ET the same day, accessible via phone and a listen-only webcast on their website. Mesa operates a fleet of 158 aircraft, providing scheduled passenger and cargo services across 107 cities in the U.S., the Bahamas, and Mexico, with approximately 306 daily departures.

Mesa Airlines has ordered 29 Pipistrel Alpha Trainer 2 aircraft, with an option for 75 more, as part of its Mesa Pilot Development Program (MPD). This initiative aims to address the ongoing pilot shortage by offering new pilots the chance to accumulate up to 1,500 flight hours necessary for commercial certification. Starting in October 2022, operations will begin in Inverness, Florida, moving to Arizona later. The program provides flight costs financed by Mesa, while offering top regional pilot pay of $100/hour and a direct path to major airlines.

Mesa Air Group, parent company of Mesa Airlines (NASDAQ: MESA), announced that Jonathan Ornstein, Chairman and CEO, will engage in a Fireside Chat at Cowen’s 15th Annual Global Transportation & Sustainable Mobility Conference on September 7, 2022, from 2:20 to 2:50 PM EDT. A link to the live webcast will be available on the investor relations section of Mesa’s website. The company, headquartered in Phoenix, operates scheduled passenger and cargo services across 121 cities in the U.S., the Bahamas, and Mexico, with a fleet of 168 aircraft.

Mesa Air Group (NASDAQ: MESA) reported a net loss of $10.0 million, or $(0.28) per diluted share, for Q3 FY22, compared to net income of $4.3 million, or $0.11 per diluted share, in Q3 FY21. Total operating revenues increased by 7.4% to $134.4 million. The adjusted EBITDA was $20.1 million, significantly down from $35.3 million a year ago, affected by elevated pilot attrition and reduced commercial pilot pipeline. Mesa also recognized $6.8 million of previously deferred revenue in Q3. The company ended the quarter with $54.4 million in unrestricted cash.

Mesa Air Group, Inc. (NASDAQ: MESA) will release its third quarter earnings results for fiscal year 2022 on August 8, 2022, post-market closure. A conference call will follow at 4:30 PM ET the same day to discuss the results. Interested parties can dial 888-469-2054 to join, using the passcode PHOENIX (7463649). A listen-only webcast will be available on the company’s website, with a recorded version accessible roughly two hours after the call. Mesa operates a fleet of 168 aircraft, servicing 121 cities across 41 states and other regions.

Mesa Air Group, Inc. (NASDAQ: MESA) announced that its pilots in United's Aviate program can now earn service credit across all Mesa operations, including American Eagle. This change allows greater flexibility and potential for pilots to build flight hours with Mesa, enhancing their transition to United Airlines. Mesa expresses gratitude to United for this program expansion, which is seen as a key opportunity for pilot retention and attraction. Mesa operates a fleet of 166 aircraft with 376 daily departures serving 113 cities.

Mesa Airlines (NASDAQ: MESA) will hold a virtual Fireside Chat featuring CFO Torque Zubeck at BofA Securities’ 29th Annual Transportation, Airlines and Industrials Conference on May 17, 2022, at 1:20 PM Eastern time. Listeners can join the live audio webcast by accessing the link provided at least a few minutes prior to the start. A replay will be available for 60 days on the company’s investor relations website. The airline operates scheduled passenger and cargo services across 110 cities in the U.S., the Bahamas, and Mexico, utilizing a fleet of 166 aircraft.