There were glory days for regional airlines?
There were for the management types.
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There were glory days for regional airlines?
PHOENIX, May 10 /PRNewswire-FirstCall/ -- Mesa Air Group, Inc. (Nasdaq: MESA) announced today a second quarter after tax loss of $24.0 million on gross operating revenues of $336.4 million. Total gross operating revenues for the second quarter of 2007 increased $24.4 million, or 7.8%, primarily as a result of the year-over-year increases in our regional jet fleet. Net income and earnings per share for the second quarter were a loss of $24.0 million and $0.54 per share on a diluted basis (all per share amounts reported hereafter are on a diluted basis), respectively, as compared to net income of $5.3 million and $0.14 per share for the same period of fiscal 2006. Pro forma net income for the quarter was $4.5 million, or $0.13 per share. Pro forma net income excluded after-tax non-cash losses on an equity investment of $2.2 million, net non-cash investment losses of $2.8 million and non-cash charges associated with the impairment of certain long-lived assets relating to our Delta and United code share agreements of $23.4 million. This compares to pro forma earnings of $12.9 million, or $0.30 per share for the comparable period of fiscal 2006.
I think the mystery is being removed from the question "how did Mesa beat out Comair and SkyWest for Delta Connection Flying?"
It appears SkyWest was smart not to bid flying below their operational costs. However, how long SkyWest can hold out against ExpressJet and Mesa's willingness to bid at less than cost?
He wont its contract time:smash:I wonder how JO will spin this? You know he'll have a "good" reason.
Thats why his face is on Mount SCAB-more!
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