time builder
Well-known member
- Joined
- Apr 20, 2005
- Posts
- 648
It's all part of the illusion. They want you to think everything is fine and dandy. We all know they're going down, and a failed attempt to axe JO doesn't look to good on the reports, so they come up with a story like this.I love it. Just another example of the fact that 90% of the rumors in aviation are just that!
Mesa Air Group, Inc. Announces Amendment to Senior Staff Employment Agreements
Tuesday November 20, 4:30 pm ET
PHOENIX, Nov. 20 /PRNewswire-FirstCall/ -- Mesa Air Group, Inc. (Nasdaq: MESA - News) today announces that its Board of Directors approved certain amendments to the employment agreements for its Chief Executive Officer, Jonathan G. Ornstein, its President and Chief Operating Officer, Michael J. Lotz, and its Executive Vice President and General Counsel, Brian S. Gillman.
(Logo: http://www.newscom.com/cgi-bin/prnh/19990210/LAW065)
[SIZE=-2]Source: Mesa Air Group, Inc.[/SIZE]
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The amendments extend the terms of their respective employment agreements for an additional three years. Mr. Gillman also received an increase in his base salary and is now entitled to an annual deferred compensation payment, which will also be payable through the remaining term of his employment agreement in the event of a change in control of the Company.
Dan Altobello, the Lead Director of the Company's Board of Directors, stated, "Ten years ago, when I joined the Board and Jonathan Ornstein and Mike Lotz joined Mesa, the Company had revenue of $423 million and had lost $54 million in the previous fiscal year. Since that time we have grown to over $1.4 billion in revenue, and since 9/11 earned operating profits on a pro-forma basis in 26 of 27 quarters, regained our partnership with United Airlines, formed a new partnership with Delta, added approximately 150 regional jets to our fleet, named Regional Airline of the Year in 2005 and provided unsurpassed job security and opportunity for our employees. All this was achieved during what has to have been the most difficult environment for airlines in history. The Board of Directors strongly believes that given the challenges the Company faces today it was important to demonstrate our support of management and to ensure the continuing services of Jonathan, Mike and Brian. We are similarly pleased that these members of our executive team have indicated their long term commitment to the Company by agreeing to extend the terms of their employment agreements for the additional three years." "I am thankful to have had the opportunity to be part of the Mesa team for the past nine years. On behalf of Mike and Brian, I'd like to thank the Board for their support. I look forward to working with my Mesa co-workers in the coming years. While we face some significant challenges ahead -- this is nothing new to Mesa. I am confident that by working together we will continue to be successful," said Jonathan Ornstein.
Besides, you bash on your fellow pilots and then side with the media as a credible source of information? Oh, yeah, they've always got the story nailed, especially when it comes to aviation.
