Mesa Air Group, Inc. - MESA STOCK NEWS

Mesa Air Group, Inc. (NASDAQ: MESA) reported significant operational growth for June 2021, with block hours increasing by 224.6% year-over-year to 30,015 hours. This surge reflects a recovery from the COVID-19 pandemic. Mesa’s controllable completion factor was 98.58% for American operations and 99.97% for United. Despite the positive performance in June, year-to-date block hours declined by 10.6% compared to the previous year. Overall, the airline is witnessing improved metrics but still faces challenges in year-to-date performance.

On June 8, 2021, Mesa Air Group, Inc. (NASDAQ: MESA) reported its operating performance for May 2021, showing a strong recovery from the COVID-19 pandemic. The airline recorded 28,264 block hours, a 134% increase from May 2020. Notably, the controllable completion factor was 99.84% for American and 100% for United operations. Year-to-date, block hours decreased by 19.5% compared to the previous year. While May's flight statistics reflect positive growth, the year-to-date figures indicate challenges as overall volume remains below pre-pandemic levels.

Mesa Air Group, Inc. (NASDAQ: MESA) announced a significant operational improvement for April 2021, reporting 26,883 block hours, a 161.1% increase from the previous year due to a rebound from the COVID-19 pandemic. The controllable completion factors stood at 99.95% and 99.97% for American and United operations. Despite this recovery, year-to-date block hours and departures show a decline of 27.4% and 32.1% respectively compared to the same period in 2020. The report reflects a mixed recovery trajectory.

Mesa Air Group, Inc. (NASDAQ: MESA) reported second quarter fiscal 2021 results with a net income of $5.7 million, or $0.14 per diluted share, up from $1.9 million in Q2 2020. Adjusted pre-tax income rose to $12.1 million, reflecting a $56 million benefit from the Payroll Support Program. The company signed a letter of intent to lease more cargo aircraft and invested in Archer Aviation's eVTOL aircraft. Despite challenges, Mesa's operational performance improved, with block hours increasing by 6.8% from the previous quarter.

Mesa Air Group, Inc. (NASDAQ: MESA) will announce its Q2 earnings for fiscal 2021 on May 10, following market closure. A conference call to discuss the results is scheduled on the same day at 4:30 pm ET. Interested parties can join the call by dialing 888-469-2054 with passcode PHOENIX (7463649), and a listen-only webcast will be available on Mesa's website. As of March 31, 2021, Mesa operated a fleet of 163 aircraft, managing 440 daily departures across 112 cities, and employs approximately 3,100 personnel.

Mesa Air Group, Inc. (NASDAQ: MESA) reported a 15.9% decrease in block hours for March 2021, totaling 28,127 hours, impacted by the COVID-19 pandemic and operational disruptions from a major winter storm in February. The controllable completion factors remained high at 99.86% for American operations and 100% for United. Year-to-date figures show significant reductions, with a 36.0% overall decline in block hours compared to FY2020. Notably, the company faced nearly 1,300 flight cancellations, incurring crew costs despite reduced operations.

Mesa Air Group, Inc. (NASDAQ: MESA) has been recognized in Forbes’ 2021 list of America’s Best Midsize Employers. This marks the company’s inaugural appearance on the list and its distinction as the sole regional airline included. The recognition highlights Mesa's resilience amidst the challenges posed by COVID-19. Forbes collaborated with Statista to survey over 50,000 employees across various industries to measure employer recommendations. Mesa operates a fleet of 16 aircraft and provides services to 106 cities, showcasing its operational strength.

On March 8, 2021, Mesa Air Group, Inc. (NASDAQ: MESA) reported significant declines in operational performance for February 2021. The airline logged 20,457 block hours, reflecting a 44.0% decrease compared to February 2020, mainly due to reduced schedules stemming from the COVID-19 pandemic and severe winter storms. The controllable completion factor was 99.62% for American operations and 99.97% for United operations. Year-to-date (YTD) block hours also fell by 39.6% to 115,062 from the previous year.

Mesa Air Group (MESA) has announced a conditional agreement with Gramercy Associates Ltd. to establish a joint venture in Europe. This partnership aims to obtain a new Air Operator’s Certificate (AOC) to operate CRJ-900 aircraft, focusing on capacity purchase agreements in passenger or cargo services. Mesa will hold a 49% stake post-certification, with operations expected to commence by the end of 2021. The collaboration seeks to leverage successful CPA and ACMI models from the US in the European market, marking a significant step in Mesa's international expansion strategy.