Mesa Air Group Announces Increased Utilization from Fourth Calendar Quarter 2024 to First Calendar Quarter 2025
05 Dezembro 2024 - 11:00AM
Mesa Air Group, Inc. (NASDAQ: MESA) (“Mesa” or the
“Company”) today announced the Company will significantly increase
daily aircraft utilization rates beginning in January 2025.
After working closely with United’s Network Planning group, Mesa
is scheduled to increase utilization from an average of 8.9 block
hours per day in the fourth calendar quarter of 2024 to an average
of 9.5 block hours per day, or a 7% increase in the first calendar
quarter of 2025. Utilization is planned to reach 9.8 block hours
per day by March 2025, or a 10% increase from the fourth calendar
quarter of 2024. Further improvement in aircraft utilization is
anticipated in the second calendar quarter of 2025.
While still below pre-Covid levels, the increase in utilization
is a result of significantly reduced attrition throughout all work
groups, more optimal scheduling practices, and improved operational
performance. Mesa has experienced only one controllable cancel in
the fourth calendar quarter 2024.
“This is an important and long-awaited step in improved
financial results. While the recovery took somewhat longer than
anticipated, we have begun to see significant progress and are
encouraged by the planned increased utilization,” said Jonathan
Ornstein, Chairman and CEO. “The additional revenue generated from
increased utilization will be instrumental in improving operating
results and cash flow going forward.”
“As a result of the increase in flying, Mesa intends to begin to
recall previously furloughed pilots beginning in January,”
continued Ornstein. “I would like to personally thank all of our
people for the hard work and dedication in what has previously been
a challenging operating environment.”
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 62 cities in 31
states, Cuba, and Mexico. As of September 30, 2024, Mesa operated a
fleet of 67 aircraft, with approximately 265 daily departures. The
Company had approximately 1,800 employees. Mesa operates all its
flights as United Express pursuant to the terms of a capacity
purchase agreement entered into with United Airlines, Inc.
Important Cautions Regarding Forward-Looking
Statements
This Press Release includes information that constitutes
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Words such as
“anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”,
“believe”, “may”, “might”, “will”, “should”, “can have”, “likely”
and similar expressions are used to identify forward-looking
statements. These forward-looking statements are based on the
Company’s current beliefs, assumptions, and expectations regarding
future events, which in turn are based on information currently
available to the Company. By their nature, forward-looking
statements address matters that are subject to risks and
uncertainties. A variety of factors could cause actual events and
results to differ materially from those expressed in or
contemplated by the forward-looking statements. These factors
include, without limitation, the Company’s ability to respond in a
timely and satisfactory matter to the inquiries by Nasdaq, the
Company’s ability to regain compliance with Listing Rule, the
Company’s ability to become current with its reports with the SEC,
and the risk that the completion and filing of the Form 10-Qs will
take longer than expected. For additional information about factors
that could cause actual results to differ materially from those
described in the forward-looking statements, please refer to the
Company’s filings with the SEC, including the risk factors
contained in its most recent Annual Report on Form 10-K and the
Company’s other subsequent filings with the SEC. The Company
undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise, except to the extent required by
applicable laws.
Contact:Mesa Air Group,
Inc.Mediamedia@mesa-air.com
Investor Relationsinvestor.relations@mesa-air.com
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