Mesa may file bankruptcy protection

[pdub20s]

Very funny!!!!

On a serious note, has Freedom stopped flying in ATL? I haven't heard you guys on the radios, and I don't believe I have seen your planes.

Good luck to the pilots. This will be some trying times on you and your families.

the 900 goes there often. havent been there in a while on the ERJ

 

[topdawg]

no...
you don't stand by that statement - the flightinfo moniker "topdawg" stands by that statement.

If you stood by that statement you would put your real name next to it and accept whatever detriment/ benefit may come of it - but you won't because you like to throw jabs with anonymity
[/quote

My name is Topdawg Iskabibel. I stand bt my statement!

 

[JumpersAway]

I can't believe they listed labor costs as a reason that they are facing BK. What a joke. Watch this- they'll run into BK and then try and get pay concessions from the pilots. You can't get blood from a turnip, but if you squeeze really long and hard, you can get a little bit of water............

 

[TOOL CRIB]

I can't believe they listed labor costs as a reason that they are facing BK. What a joke. Watch this- they'll run into BK and then try and get pay concessions from the pilots. You can't get blood from a turnip, but if you squeeze really long and hard, you can get a little bit of water............

Well it is, I mean if everybody worked for free maybe they could skim by!! They might as well list these reasons too: taxes, heating/AC bills, copier supplies, water cooler refills, the high cost of staples, Bic pens, telephone bills, electric bills, JO's daily private lap dances by manwhores...

 

[Soverytired]

I imagine Mesa highest "labor costs" have to do with a very high turnover rate and re-training costs.

The loss of the Delta flying must have only exacerbated this, as "bump and flush" training must be happening across the system. Ditto for the shutdown of Air Midwest.

There's more to labor costs than just a paycheck.

 

[B.T.Justice]

I'd imagine that if Mesa declares BK, that would allow the other partners to cancel their contracts. Would UAL and LCC cancel if given the opportunity? That will be the nail in Mesa's coffin, and I believe thats why they haven't declared yet.

 

[samballs]

none taken.. the pilot group is ready to bring the airline to their knees

they have been on their knees for awhile, right behind you thrusting

 

[knewhigher]

they have been on their knees for awhile, right behind you thrusting

post of the year!

 

[BusDriver12]

Delta's plan to cancel contract threatens Mesa Air
The Associated Press
Regional airline Mesa Air Group (MESA) warned Thursday that it faces a cash crunch and could be forced into bankruptcy-court protection if it can't stop Delta Air Lines (DAL) from going through with a plan to cancel a service contract.
The Phoenix-based company said in a filing with the Securities and Exchange Commission that the loss of $20 million in monthly revenue from the Delta deal could lead to a cascade of defaults if it can't restructure its debt, acquire additional capital or otherwise restructure.
One of the nation's largest regional airlines, Mesa operates as Delta Connection, US Airways Express and United Express under contractual agreements with Delta, US Airways (LCC) and United Airlines (UAUA).
Mesa's SEC filing said the Delta operations accounted for about 20% of its 2007 revenue. Losing the deal to provide Delta regional service would cost Mesa an estimated $960 million over the next four years.
In addition, Mesa would be on the hook for leases for 34 regional jets that it likely would be unable to redeploy to other routes. It estimated aircraft leasing, labor and other costs at $250 million to $300 million over the next four years.

Defaulting on its obligations would require the company to seek legal protection from creditors that could affect Mesa's ability to continue in business, the filing said.
Mesa sued Delta last month in an effort to prevent Delta from ending its service agreements.
Delta told Mesa that it was canceling its deals because of performance issues on its Freedom Airlines subsidiary, which Mesa in turn blamed on Delta's actions.
A hearing on the lawsuit is set to begin Tuesday.
Mesa has been struggling for several months.
Last week, the airline said it would shut down subsidiary carrier Air Midwest, cutting off service to 16 small cities in 10 states, because of soaring fuel prices. Air Midwest operated government-subsidized "essential air service" flights to the cities.
Mesa's finances also have been hit in many other areas.
Its Hawaiian carrier, Go, has struggled to make a profit and sparked a lawsuit with Hawaiian Airlines (HA) that ended with Mesa agreeing to pay $52.5 million.
Last week, Mesa shareholders authorized it to issue millions of new shares to help pay off $37.8 million in senior convertible notes due in June.
A separate company filing Thursday said the carrier agreed with some of its bondholders to repurchase some of the notes and delay requiring the company to buy back others.
Mesa's shares have dropped more than 75% since the beginning of the year. They lost 9 cents to close at 48 cents Thursday.
The company had a net loss of $4.2 million on revenue of $326.6 million in the first quarter.
Mesa Air Group was founded in 1982 by Larry Risley, a former aircraft mechanic who mortgaged his house and business to start the airline.
It has grown into a major commuter carrier with 5,000 employees and about 1,100 daily departures to 184 cities.

 

[johndog]

[after all they only get payed wheels up to weight on wheels. Must feel good to sit for 2 hours in line for takeoff making nothing. [/quote]

Not true. We are paid the average of gate to gate over a 6 month period of time. Sometimes were earlier than this - some times later. It's not as good as block or better, Obviously. but it's not at all as you post either. Please do your homework before posting info about someone else's airline.