Mesa Air Group, Inc. - MESA STOCK NEWS

Mesa Air Group, Inc. (NASDAQ: MESA) reported significant operational growth for October 2021, with a total of 30,694 block hours, marking a 52.2% increase compared to October 2020. This surge is attributed to a rise in flights as COVID-19 restrictions eased. Mesa Airlines achieved a controllable completion factor of 99.66% for American operations and 98.57% for United operations. Key statistics reveal a 36.7% increase in American block hours and a 62.3% increase in United block hours year-over-year. Mesa continues to demonstrate robust operational recovery.

Mesa Air Group (NASDAQ: MESA) has signed a groundbreaking agreement with Flirtey to order four delivery drones, with an option for an additional 500. This partnership positions Mesa as the first scheduled airline to offer drone delivery in the U.S., initially focusing on last-mile food delivery. The project aims for rapid expansion in the U.S. and New Zealand, leveraging Mesa's operational expertise and Flirtey's advanced drone technology. With approximately 450 daily departures, Mesa seeks to tap into the lucrative last-mile delivery market.

Mesa Air Group, Inc. (NASDAQ: MESA) reported a 35.6% increase in block hours for September 2021, totaling 29,524 hours compared to September 2020. This growth is attributed to heightened flying activity and eased COVID restrictions. The company also achieved a controllable completion factor of 99.92% for American operations and 99.86% for United operations. Year-to-date figures show a 3.2% increase in total block hours compared to the previous fiscal year. Mesa operates flights under American Eagle, United Express, and DHL Express across various U.S. locations.

Mesa Air Group, Inc. (NASDAQ: MESA) has appointed Torque Zubeck as its new Chief Financial Officer, effective immediately. Zubeck joined Mesa in March 2021 as Senior Vice President of Finance and will now report directly to Chairman and CEO Jonathan Ornstein. He replaces Michael Lotz, who will remain President and continue overseeing the company's strategic financial direction. Zubeck has a robust background in aviation, having held various managerial roles at Alaska Airlines, including Director of Corporate Financial Planning and Analysis.

Mesa Air Group, Inc. (NASDAQ: MESA) reported a 73.4% increase in block hours for August 2021, totaling 32,501 hours compared to August 2020. This rise is attributed to heightened summer travel and easing COVID-19 restrictions. The controllable completion factor was 99.71% for American operations and 99.66% for United. Year-to-date, block hours rose by 0.8% from 2020 levels. Despite strong performance this month, there were slight declines in year-to-date departures for both American and United compared to the previous fiscal year.

Mesa Air Group announced that its Chairman and CEO, Jonathan Ornstein, will participate in a Fireside Chat at Cowen’s 14th Annual Global Transportation & Sustainable Mobility Conference on September 9, from 1:35-2:05 PM EDT. The panel discussion will focus on the company’s operations and future strategies. Interested parties can access the live webcast through the investor relations section of Mesa's website.

As a regional air carrier, Mesa Airlines provides services to 116 cities and operates a fleet of 167 aircraft, with around 470 daily departures.

Mesa Air Group, Inc. (NASDAQ: MESA) reported significant operational improvements for July 2021. The airline achieved 32,843 block hours, marking a 92.1% increase from July 2020, driven by expanded summer travel and eased COVID restrictions. The controllable completion factor was 98.72% for American operations and 99.90% for United. However, year-to-date figures show a 4.2% decline in block hours compared to the previous year, reflecting ongoing challenges amid recovery. Departures also fell, with 129,203 total departures, a 11.2% decrease YTD.

Mesa Air Group, Inc. (NASDAQ: MESA) reported a robust third quarter for fiscal 2021, ending June 30, 2021, with a net income of $4.3 million, or $0.11 per diluted share, surpassing last year's $3.4 million. The company achieved pre-tax income of $5.8 million and a significant increase in block hours by 169.3% year-over-year to 85,162 hours. Operating revenue rose by 71.2% to $125.2 million, driven by the recovery in air traffic. However, total operating expenses also surged by 91.4% to $110.8 million due to increased maintenance and flight operations costs.

Mesa Air Group, Inc. (NASDAQ: MESA) is scheduled to release its third quarter fiscal year 2021 earnings on August 9, 2021, after market close. A conference call will follow at 4:30 PM ET to discuss the results, accessible by dialing 888-469-2054 with passcode PHOENIX. A listen-only webcast will also be available on Mesa’s website, with a recorded version posted approximately two hours post-call. Mesa operates 165 aircraft, providing services to 116 cities across the U.S. and Mexico, under agreements with major airline partners.