MESA Loses 24 Million!!!!!

[flyer172r]

There were glory days for regional airlines?

There were for the management types.

 

[Grey Ghost]

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.

Thats why his face is on Mount SCAB-more!
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[WSurf]

Let me guess! A loss right at the time they are trying to get a new contract!! Every airlines is hiring like mad..... just shut it down!

 

[jdog78]

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?

What makes you think XJT is working below cost? As far as I know, DL is getting the same rate that CO gets. If that were the case, then all of our flying would be operated at a loss.

 

[veneratio]

Hahahhahaaahahha

 

[YourPilotFriend]

This loss is because plywood was up 300% since they are now rebuilding new orleans.

 

[RIDETHELIGHTING]

I wonder how JO will spin this? You know he'll have a "good" reason.

He wont its contract time:smash:

 

[Flyer1015]

Thats why his face is on Mount SCAB-more!
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LMFAO!!!

YOUR AVATAR IS HILARIOUS!!!!!

 

[Stifler's Mom]

I'd hate to see JO have to sell off some of his motorcycle collection.

 

[pgcfii2002]

He is obviously paying his pilots too much!!!!!!!!!!!!!!!!