Mesa buys PSA

[ASABound]

Rene, you are the most self absorbed, ignorant, stupid, MESA Kool Aid drinker on this board! Some of what you say may very well be true, however MESA's track record will prevail. You said in another thread that History will be the judge, you are exactly right. It will be, and no mainline partner in there right mind will enter into another contract with your company. If what you are saying is actually true and you guys have done a performance turn around, congratulations. I sincerely mean that. I know what it is like to work for a company that has turned the corner and changed its ways for the better. I am glad for that. The problem over there is that you have no leadership from mgmt starting with JO all the way down. This is not pilots bashing pilots but instead pilots bashing your mgmt. Those of us at ASA who are humble enough to admit our troubled pass will very humbly and honestly say that ASA has truly improved in all facets of the operation due to the fact that SKYW has given us a leader and the tools from mgmt to do so. We still have our problems over here, no doubt about it but we now have leadership that I personally believe is paramount in the realization of our success and improvements over the last two years. In the interest of our industry as a whole the best thing that can happen is for MAG to go to bed. I know the media can paint a picture but based on everything I read and see from the media is that JO hasnt changed a bit in his ways and tactics to screw his business partners and most importantly his desire to SCREW his EMPLOYEES and PILOTS even when I was a 1900 FO based in SHD 10 years ago. Take it for what its worth. Best of Luck !!

 

[Flyin2low]

What happened at PSA today? Did the Stanley and the fruitcake get recalled? Do share....

Not recalled, just a scheduled MEC election due this year. New MEC and Vice MEC voted in. They were MEC members several years ago and decided to step up to take PSA pilots in a different direction.

 

[brokedash]

Why did GO! cancel over half its Hawaii flights starting today???

It may have to do with the fact that 2 of the Go! fleet aren't currently in Hawaii.

 

[dooork]

Rene, you are the most self absorbed, ignorant, stupid, MESA Kool Aid drinker on this board! Some of what you say may very well be true, however MESA's track record will prevail. You said in another thread that History will be the judge, you are exactly right. It will be, and no mainline partner in there right mind will enter into another contract with your company. If what you are saying is actually true and you guys have done a performance turn around, congratulations. I sincerely mean that. I know what it is like to work for a company that has turned the corner and changed its ways for the better. I am glad for that. The problem over there is that you have no leadership from mgmt starting with JO all the way down. This is not pilots bashing pilots but instead pilots bashing your mgmt. Those of us at ASA who are humble enough to admit our troubled pass will very humbly and honestly say that ASA has truly improved in all facets of the operation due to the fact that SKYW has given us a leader and the tools from mgmt to do so. We still have our problems over here, no doubt about it but we now have leadership that I personally believe is paramount in the realization of our success and improvements over the last two years. In the interest of our industry as a whole the best thing that can happen is for MAG to go to bed. I know the media can paint a picture but based on everything I read and see from the media is that JO hasnt changed a bit in his ways and tactics to screw his business partners and most importantly his desire to SCREW his EMPLOYEES and PILOTS even when I was a 1900 FO based in SHD 10 years ago. Take it for what its worth. Best of Luck !!

Turned the corner??? no where to go but up...from the bottom!

 

[ASABound]

dooork, ok you have a point!

 

[DASH8AV8R]

I just hope that the PSA and PDT MEC's continue to work together

 

[flyboyzii]

I apologize for the thread creep but I used to see a Captain who would pull into the gate in Dulles and immediately put a "For Sale" sign in the window with I believe a phone number at the bottom. Does anyone know if he is still around?? Haven't seen "the sign" in some time. I found it very humrous.

 

[Flyin2low]

I just hope that the PSA and PDT MEC's continue to work together

Just bring Bob Pantazis back and they will.

 

[ePilot22]

Just waiting for someone to make a factual argument.

I won't hold my breath.

I am describing a theory about what may happen in the regional airline industry. I am not making an emotional argument: I am describing a scenario. Believe it if you will.

You're right, you still haven't made a FACTUAL argument. Please hold you breath!



eP.

 

[ePilot22]

Mesa Air Group Reports Third Quarter 2009 Results
PHOENIX, Aug. 10 /PRNewswire-FirstCall/ -- Mesa Air Group, Inc. (Nasdaq: MESA) (the "Company") announced today a third quarter income from continuing operations of $1.7 million on operating revenues of $232.6 million. Total operating revenues for the third quarter of 2009 decreased $121.3 million, or 34.3% primarily resulting from a year-over-year decrease in capacity and lower fuel revenue. The income of $1.7 million, or $0.01 per share on a diluted basis, compares to income from continuing operations of $1.8 million, or $0.07 per diluted share for the same period of fiscal 2008. Pro forma net income for the quarter was $2.3 million or $0.02 per diluted share compared to a net loss of $2.5 million or $0.09 per diluted share for the same period of fiscal 2008. Pro forma net income for the quarter includes adjustments for the following items on an after tax basis: $1.4 million for income from equity method investments, $1.2 million for a maintenance reserve and $0.9 million for costs associated with our Chinese joint venture.

Total Available Seat Miles ("ASMs") for the third quarter of fiscal 2009 decreased 10.8% from the third quarter of 2008. The decrease was primarily due to a reduction in the number of aircraft flown from 161 as of June 30, 2008 to 142 as of June 30, 2009. At June 30, 2009 Mesa's operating fleet was comprised of 68 50-seat regional jets, 38 86-seat regional jets, 20 66-seat regional jets, and 16 37-seat turboprops. As of June 30, 2009, the Company operated 48 regional jets and six turboprops on a codeshare basis with US Airways, 46 regional jets and ten turboprops for United, 22 regional jets for Delta, and had five operational spares. The Company also flew five regional jets in Hawaii, operating as go!.

At June 30, 2009, the Company had cash, cash equivalents, and marketable securities (including current and noncurrent restricted cash) of $35.0 million (including $14.1 million of restricted cash), compared to $64.9 million (including $13.9 million of restricted cash) at September 30, 2008. The decrease in the cash position is primarily attributed to the timing of certain payments and fluctuations in working capital.

Events during the third quarter and recent developments:

-- Delta: On April 1, 2009, we removed six ERJ-145 aircraft from the Delta Connection Agreement. Effective April 1, 2009, the Company operated 22 ERJ-145 aircraft pursuant to its Delta Connection Agreement.

On July 2, 2009, the U.S. Court of Appeals affirmed the preliminary injunction against Delta Air Lines. The decision effectively enjoined Delta from terminating Freedom Airlines' Delta Connection Agreement covering certain ERJ-145 aircraft; the preliminary injunction will remain in place while the case proceeds in the U.S. District Court. With both the U.S. District Court and now the U.S. Court of Appeals finding that Mesa has demonstrated a substantial likelihood of success on its claims, Mesa looks forward to having this matter fully and finally resolved at trial.

-- China: In April 2009, the Company completed transactions divesting its indirect interest in the Kunpeng Airlines joint venture. Five aircraft were returned from this joint venture.

-- go!: We celebrated our third anniversary operating in Hawaii as go!. During the past three years we have continued to expand our presence as a leading inter-island transporter. go! has carried over two million passengers and has become a company with robust personality and established values. For the first nine months of fiscal 2009 go! reported operating losses of $4.7 million on operating revenues of $29.9 million compared to operating losses of $22.3 million on operating revenues of $29.0 million for the same period in the prior year.


"While we continue to face significant challenges in the upcoming
quarters, we continue to strive to serve the needs of our partners while
providing excellent customer service to our passengers," said Mesa Chairman
and CEO, Jonathan Ornstein. "On behalf of the entire executive staff, I
would like to express our gratitude to thank our airline partners, vendors,
suppliers, and hardworking employees for their continued dedication and
support."

To supplement our consolidated financial statements presented in accordance with GAAP, the Company uses non-GAAP measures of pro forma net income (loss) and pro forma earnings (loss) per share, which are adjusted from our GAAP results as shown above. These non-GAAP adjustments are provided to enhance the user's overall understanding of our current financial performance. We believe the non-GAAP results provide useful information to both management and investors by excluding certain charges and other amounts that we believe are not indicative of our core operating results. These non-GAAP measures are included to provide investors and management with an alternative method for assessing the Company's operating results in a manner that is focused on the performance of the Company's ongoing operations and to provide a more consistent basis for comparison between quarters. In addition, since we have historically reported pro forma results to the investment community, we believe the inclusion of non-GAAP numbers provides consistency in our financial reporting. These measures are not in accordance with or an alternative for GAAP and may be different from pro forma measures used by other companies.

Mesa currently operates 142 aircraft with approximately 800 daily system departures to 108 cities, 38 states, the District of Columbia, Canada, and Mexico. Mesa operates as Delta Connection, US Airways Express and United Express under contractual agreements with Delta Air Lines, US Airways and United Airlines, respectively, and independently as Mesa Airlines and go!. In June 2006 Mesa launched inter-island Hawaiian service as go!. This operation links Honolulu to the neighbor island airports of Hilo, Kahului, Kona and Lihue. The Company, founded by Larry and Janie Risley in New Mexico in 1982, has approximately 3,700 employees and was awarded Regional Airline of the Year by Air Transport World magazine in 1992 and 2005.

http://www.mesa-air.com/

SOURCE: Mesa Air Group, Inc.

CONTACT:
Mesa Air Group, Inc., +1-602-685-4010

Web Site: http://www.mesa-air.com

I had to remove some of the voo-doo, but you can view it, in it's entirety, here.

GAAP is Generally Accepted Accounting Principals. Mesa uses non-GAAP accounting. Fuzzy math.

Are these the "facts" you wish to argue?

Here are some more FACTS!




eP.