Mesa Air Group Stock Price, News & Analysis

Mesa Air Group (NASDAQ: MESA) entered an Amendment to its Loan Agreement dated Oct 30, 2020: the lender extended the maturity to Nov 28, 2025 (with a one-time 30-day extension option), set the interest rate to 0% for 90 days, waived certain covenant tests through maturity, required a cash deposit and pledge of an aircraft engine as additional collateral, and agreed to a $12.3 million principal reduction contingent on payment in full at maturity.

Separately, Mesa and Republic announced an all-stock merger (Apr 7, 2025). Stockholder meeting is set for Nov 17, 2025 with a tentative closing of Nov 19, 2025. The combined company is estimated to have a $1.8B–$2.0B twelve-month run-rate revenue, pro forma cash in excess of $300M, and pro forma debt of approximately $1.1B. Pre-merger Mesa shareholders would hold 6%–12% of the combined company. Mesa reports federal NOLs of $277.6M and state NOLs of $150.6M. Fleet: 60 E-175 aircraft; ~254 daily departures; ~1,645 employees.

Mesa Air Group (NASDAQ: MESA) reported its Q3 fiscal 2025 results and provided updates on its proposed merger with Republic Airways Holdings. The company posted total operating revenues of $92.8 million and net income of $20.9 million ($0.50 per diluted share).

Key operational highlights include achieving a 99.99% controllable completion factor and increasing daily block hour utilization to 9.8 hours. Mesa has successfully transitioned to a single fleet operation of Embraer 175s, with 160 pilots trained to transition from CRJ to E-175 fleet.

Regarding the merger with Republic Airways, the combined company is projected to generate annual revenue of $1.8-2.0 billion. The merged entity is expected to have over $300 million in cash and approximately $1.1 billion in debt, with Mesa contributing no debt. The merger process continues with HSR Act clearance obtained and pending stockholder approval.

Mesa Air Group (NASDAQ: MESA) has announced the filing of a registration statement on Form S-4 and S-1 with the SEC in connection with its proposed merger with Republic Airways Holdings Inc. The filing, submitted on July 10, 2025, includes a proxy statement and preliminary prospectus.

Once the SEC declares the registration statement effective, Mesa will mail the final proxy statement/prospectus to its stockholders for their vote on the merger. The company emphasized that the registration statement is currently pending effectiveness, and its contents may be subject to changes. No securities can be sold or offers accepted until the registration becomes effective.

Mesa Air Group reported Q2 FY2025 results with total operating revenues of $94.7 million, showing a 28% decrease from Q2 FY2024. The company posted a net loss of $58.6 million ($1.42 per diluted share), including a $53.8 million loss related to asset impairment and sales. Adjusted net loss was $2.9 million. Mesa completed its transition from CRJ-900 aircraft, with its last flight in February 2025, now operating exclusively 60 E-175 aircraft for United Airlines. The company maintained a 99.9% controllable completion factor and achieved 9.4 block hours per day utilization. Mesa's pending merger with Republic Airways, announced earlier, is progressing with HSR filing submitted on May 16, 2025, expected to close by year-end 2025. The company ended the quarter with $54.1 million in unrestricted cash and reduced its total debt to $131.7 million from $400.1 million year-over-year.

Mesa Air Group reported Q1 FY2025 financial results with total operating revenues of $103.2 million, down 13.1% year-over-year. The company posted a net loss of $114.6 million ($2.77 per diluted share), including a $112.4 million loss related to aircraft impairment and sales. Adjusted net loss was $4.0 million. Mesa achieved a 100% controllable completion factor for United Airlines operations and generated positive adjusted EBITDAR of $12.6 million. The company operated 62 large jets under its CPA with United, including 54 E-175s and 8 CRJ-900s. Block hour utilization is expected to increase to 9.8 in the June quarter. Mesa ended Q1 with $40.0 million in unrestricted cash and reduced total debt to $230.6 million from $481.0 million year-over-year.

Mesa Air Group reported Q4 and fiscal 2024 results, highlighting its planned merger with Republic Airways and significant asset transactions. Q4 showed total operating revenues of $115.3 million with a net loss of $24.9 million. The company completed sales of 18 E-175 aircraft to United Airlines for $227.7 million and agreed to sell surplus CRJ-900 assets. For fiscal 2024, Mesa reported total operating revenues of $476.4 million, down 4.3% YoY, with a net loss of $91.0 million. The company maintained a strong operational performance with a 99.88% controllable completion factor. As of March 2025, Mesa held $54.1 million in unrestricted cash and reduced its total debt to $315.2 million from $538.3 million year-over-year.

Republic Airways Holdings and Mesa Air Group (NASDAQ: MESA) have announced a definitive merger agreement to create America's leading regional airline in an all-stock transaction. The combined entity will operate under the name Republic Airways Holdings Inc. with the ticker symbol 'RJET' on NASDAQ.

The merger will unite a fleet of approximately 310 Embraer 170/175 aircraft, operating over 1,250 daily departures. Republic shareholders will own 88% of the combined company, while Mesa shareholders will own between 6-12% based on pre-closing criteria. The transaction is expected to close in late Q3 or early Q4 2025.

The combined company is projected to generate revenues of approximately $1.9 billion, with pretax margins of 7-9% and adjusted EBITDA exceeding $320 million. The merger will maintain existing partnerships with American Airlines, Delta Air Lines, and United Airlines, with Mesa's operations supporting United under a new 10-year capacity purchase agreement.

Mesa Air Group (NASDAQ: MESA) has received a notice from Nasdaq's Listing Qualifications Department on February 21, 2025, regarding non-compliance with listing requirements. The notice stems from Mesa's delayed filing of both its Q1 2025 Form 10-Q and FY2024 Form 10-K reports.

The company has until March 17, 2025 to submit a compliance plan to Nasdaq. If accepted, Mesa could receive an extension until July 14, 2025 to regain compliance. The filing delay is not related to any financial restatement or auditor disagreements. Currently, the notice does not affect Mesa's listing status on the Nasdaq Capital Market.

Mesa Air Group (NASDAQ: MESA) announced receiving a notice from Nasdaq on January 15, 2025, indicating non-compliance with Listing Rule 5250(c)(1) due to failing to timely file its Annual Report (Form 10-K) for the fiscal year ended September 30, 2024. The notice does not immediately affect Mesa's listing or trading status on the Nasdaq Capital Market.

The company has 60 calendar days to submit a compliance plan to Nasdaq. If accepted, Mesa could receive up to 180 days (until July 14, 2025) to file the Form 10-K. Mesa stated the delay is not due to any financial restatement or auditor disagreement, and expects to file the report before the 60-day notice period expires.