Mesa Air Group Stock Price, News & Analysis

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.

Mesa Air Group, Inc. (NASDAQ: MESA) announced a letter of intent to lease a third Boeing 737-400F cargo aircraft, expected to be operational by May 2021. This expansion in the cargo fleet aims to enhance service for DHL and provide pilots with more career opportunities. Currently, Mesa operates two 737-400F aircraft for DHL, highlighting its commitment to growing its cargo operations. The company serves 114 cities across 39 states and other regions, operating approximately 393 daily departures as of January 31, 2021.

Mesa Air Group (NASDAQ: MESA) has appointed Torque Zubeck as the new Senior Vice President of Finance. With over 20 years of experience in the airline industry, Zubeck will oversee the company’s financials, reporting directly to President and CFO Michael Lotz. His previous roles included senior financial planning analyst at Alaska Airlines and leading the integration during its merger with Virgin America. Chairman Jonathan Ornstein expressed enthusiasm about Zubeck's operational and financial expertise, which is expected to be a significant asset for the company.

Mesa Air Group, Inc. (NASDAQ: MESA) reported a 33.8% decline in block hours for January 2021, totaling 25,359 hours compared to January 2020. This reduction is attributed to COVID-19 pandemic impacts and adjusted flight schedules. The controllable completion factor was 99.96% for American operations and 100% for United. Year-to-date figures also show a decline, with a 38.5% decrease in total block hours compared to the previous fiscal year.

Mesa Air Group, Inc. (NASDAQ: MESA) announced a strategic agreement with United Airlines and Archer Aviation to invest in sustainable air mobility technologies. Mesa will receive 20% of United's warrant for 14,645,614 shares of Archer's common stock, translating to a Mesa warrant for 2,929,123 shares at $0.01 each. Vesting of these shares is contingent on meeting specific milestones, including investment closure and FAA certification. Additionally, Mesa will purchase 500,000 shares of Atlas' Class A Common Stock for $5 million as part of a PIPE financing transaction.