Mesa Air Group Reports May 2020 Operating Performance

Rhea-AI Summary

Mesa Air Group, Inc. (NASDAQ: MESA) reported a 68.6% decline in block hours for May 2020 compared to May 2019, resulting in 12,077 block hours due to the COVID-19 pandemic's impact on flight schedules. Despite the downturn, the airline achieved a 100% controllable completion factor for its operations with American and United airlines. Year-to-date, block hours are down 18.7% compared to the previous year, with total departures also reflecting similar declines. Mesa currently operates a fleet of 145 aircraft with approximately 226 daily departures.

AI-generated analysis. Not financial advice.

Positive

• Achieved a controllable completion factor of 100% for both American and United operations.
• Maintains operations with a fleet of 145 aircraft.

Negative

• Block hours decreased by 68.6% year-over-year in May 2020.
• Year-to-date block hours down by 18.7% compared to FY2019.
• Total departures fell by 66.3% for American and United flights in May 2020.

News Market Reaction – MESA

+11.14%

1 alert

+11.14% News Effect

On the day this news was published, MESA gained 11.14%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

PHOENIX, June 08, 2020 (GLOBE NEWSWIRE) -- Mesa Air Group, Inc. (NASDAQ: MESA) today reported Mesa Airlines’ operating performance for May 2020.

Mesa Airlines reported 12,077 block hours in May 2020, a 68.6 percent drop from May 2019 as a result of reduced schedules during the COVID-19 outbreak. The company also reported a controllable completion factor of 100 percent for both its American and United operations.

Operating statistics for April 2020 and fiscal year 2020 YTD are included in the table below.

	May-20	May-19	% Change		YTD FY2020	YTD FY2019	% Change
Block Hours
American	5,566	16,755	-66.8%		108,199	132,047	-18.1%
United	6,511	21,719	-70.0%		138,042	170,785	-19.2%
Total	12,077	38,474	-68.6%		246,241	302,832	-18.7%
	May-20	May-19	% Change		YTD FY2020	YTD FY2019	% Change
Departures
American	3,284	9,755	-66.3%		61,994	75,833	-18.2%
United	3,735	11,067	-66.3%		69,009	85,669	-19.4%
Controllable Completion Factor*
American	100.00%	99.21%	0.8%		99.74%	99.27%	0.5%
United	100.00%	99.55%	0.5%		99.98%	99.65%	0.3%
Total Completion Factor**
American	97.19%	93.71%	3.7%		93.10%	96.24%	-3.3%
United	95.94%	96.76%	-0.8%		94.47%	98.41%	-4.0%

*Controllable Completion Factor excludes cancellations due to weather and air traffic control
**Total Completion Factor includes all cancellations

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 99 cities in 33 states, the District of Columbia and Mexico. As of May 31st, 2020, Mesa operated a fleet of 145 aircraft with approximately 226 daily departures and 3,400 employees. Mesa operates all of its flights as either American Eagle or United Express flights pursuant to the terms of capacity purchase agreements entered into with American Airlines, Inc. and United Airlines, Inc.

Investor Relations
Brian Gillman
Investor.Relations@mesa-air.com

Media
Jack Hellie
Media@mesa-air.com

FAQ

What was Mesa Air Group's block hours in May 2020?

Mesa Air Group reported 12,077 block hours in May 2020, a 68.6% decrease from May 2019.

How did Mesa Air Group's performance change in 2020?

Mesa Air Group experienced a significant decline in performance, with a year-to-date drop of 18.7% in block hours compared to FY2019.

What is the controllable completion factor for Mesa Air Group?

Mesa Air Group reported a 100% controllable completion factor for both its American and United operations in May 2020.

What are the implications of COVID-19 on Mesa Air Group?

The COVID-19 pandemic led to a dramatic decrease in block hours and departures, negatively impacting Mesa Air Group's operational performance.