Mesa/delta lawsuit ??

[clickclickboom]

Does anybody have any info regarding the pending lawsuit? I read that possibly between May 27-29 that there may be a decision.

If Mesa loses the suit and they going ch11?

Just curious as I watch the airline stocks pretty close and it seems as though the stock price is reflecting the pending decision considering that the financials are not to bad for mesa yet share prices are in the .15 to .18 range.. I do know that the share value is diluted by amount of outstanding shares but even taking that into account this stock should be in the 1.25 to 1.50 range

 

[SiuDude]

Were you perhaps looking at this article:
http://news.airwise.com/story/view/1211481506.html

if so, it's from 2008.


Currently, Delta is waiting for the results of it's appeal of the current injunction to the U.S. Appellate Court. If the injunction is reversed, Mesa will stop getting paid for it's 50-seater flying, from what I understand. I don't think that a court date has been set yet for the actual case.

 

[olympus593]

Mesa sucks

 

[CRJ puppy]

Were you perhaps looking at this article:
http://news.airwise.com/story/view/1211481506.html

if so, it's from 2008.


Currently, Delta is waiting for the results of it's appeal of the current injunction to the U.S. Appellate Court. If the injunction is reversed, Mesa will stop getting paid for it's 50-seater flying, from what I understand. I don't think that a court date has been set yet for the actual case.

The case HAS been heard...awaiting the decision...should be sometime in the next 60 days or so...doesn't look good for Delta tho...

 

[RiddleEagle18]

The case HAS been heard...awaiting the decision...should be sometime in the next 60 days or so...doesn't look good for Delta tho...

the case HASNT been heard. Only the appeal to the injunction.

 

[comrcap]

The case HAS been heard...awaiting the decision...should be sometime in the next 60 days or so...doesn't look good for Delta tho...

Mesa announced a change of ownership has affected their tax status. That change of ownership also affects their DAL contract. It nullifies it. I guess they got out from under the debt burden by issuing millions of worthless stock, but also gave DAL an out!

 

[samballs]

The case HAS been heard...awaiting the decision...should be sometime in the next 60 days or so...doesn't look good for Delta tho...

Wow you're on top of things!

 

[crj567]

Mesa announced a change of ownership has affected their tax status. That change of ownership also affects their DAL contract. It nullifies it. I guess they got out from under the debt burden by issuing millions of worthless stock, but also gave DAL an out!

O.K. I'll bite... How does a stock issuance qualify as a "change of ownership?" The corp. is still publicly traded.

I was under the impression that "change of ownership" in this context would be something more along the lines of selling a controlling interest to a voting individual or entity or perhaps taking the company private.

I doubt a stock issuance would matter here...

 

[Scope out RJ's]

O.K. I'll bite...

Yeah, your man says that all the time!

How does a stock issuance qualify as a "change of ownership?" The corp. is still publicly traded.

Isn't it wonderful how the mentally retarded try to understand! (my apologies to any retards offended in the above statement)

I was under the impression that "change of ownership" in this context would be something more along the lines of selling a controlling interest to a voting individual or entity or perhaps taking the company private.

The only thing you're under is a rock! Now get back to it burger boy!

I doubt a stock issuance would matter here...

How about a super size order of fries? Get off the computer and man the fryer ****************************** bag!

 

[MCOE175]

Mesa posts $36.7 million quarterly loss on falling revenue

Tuesday May 12, 2009




Mesa Air Group reported a net loss of $36.7 million for its fiscal second quarter ended March 31, reversed from net income of $9.4 million in the year-ago period, as revenue plummeted 27.3% to $233 million.
"While the economic environment continues to be challenging and Mesa's position is particularly difficult, we remain diligent in our efforts to improve . . . financial and operational performance," Chairman and CEO Jonathan Ornstein said. The Phoenix-based regional airline company, which operates as Delta Connection, US Airways Express and United Express and independently as Mesa Airlines and inter-island Hawaiian carrier go!, cut its fleet to 151 regional jets and turboprops as of March 31 compared to 178 at the same time last year.
It recently divested its stake in Kunpeng Airlines, a joint venture with Shenzhen Airlines, and terminated the lease of five CRJ200s to the Chinese regional (ATWOnline, April 8), but claimed it will continue to grow its Hawaiian business.
Fiscal second-quarter expenses lowered 19.6% to $235.4 million and operating loss was $37.3 million, reversed from an operating profit of $9.4 million in the year-ago period. Traffic declined 14% to 1.23 billion RPMs on a 14.1% dip in capacity to 1.7 billion ASMs, producing a load factor of 72.5%, down 0.5 point. Yield fell 14.5% to 18.8 cents as RASM slipped 14.4% to 13.7 cents and CASM dropped 8% to 13.8 cents.

by Aaron Karp