Mesa may file bankruptcy protection

[Flybywire44]

Mesa hints at bankruptcy

Friday May 23, 2008 Mesa Air Group said yesterday that if Delta Air Lines succeeds in ending its service agreement for 34 ERJ-145s, MAG may have to file for Chapter 11 bankruptcy protection as the loss of business and the resulting cash crunch would make it impossible for the regional to continue operations.
The carrier said in a filing with the US Securities and Exchange Commission that it would seek protection "available under US reorganization laws in order to avoid or delay actions by its lessors, creditors and codeshare partners which would materially adversely affect the company's ability to continue as a going concern."
Mesa said it expects to lose $20 million per month in revenue, or $960 million over the next four years, if the DL contract is terminated and that it would have difficulty redeploying the ERJs "in a timely manner." In addition, it would incur $250-$300 million in labor and leasing costs during the period.
Delta notified MAG in late March that it would terminate its agreement with Mesa subsidiary Freedom Airlines, claiming that it failed to meet specified completion rates (ATWOnline, April 3). Mesa denied the charge and filed a breach of contract lawsuit asking for a preliminary injunction to prevent what it considered "wrongful termination" of the agreement. A hearing is scheduled May 27-29 with a ruling expected at the end of the proceedings.
by Sandra Arnoult

.....

 

[SoberIrishman]

It is so terribly unfortunate that the current MAG pilots chose to take a job where they are at right now. There should be no ill will against those who made this choice, we all started somewhere. The workforce has suffered a lot, and all you mesa bashers should be thinking of the thousands who will lose their jobs at this company before the summer is done. All the best to those who work there, I just hope you bail out as soon as the opportunity presents itself! Good luck.

Let's face it, bad management is solely to blame, and guess what, those responsible will get out with golden parachute intact! They will fade into the sunset with more money that we as pilots could ever wish for in an entire career, all gleaned from the backs of those who simply are trying to make something from their flying careers.

I have had many unfortunate experiences during 2007 when MESA replaced ASA on my commuting route from ATL due to DAL's decision to use them on 50% of my flights to get to and from work. It was absolute hell. Absolute hell! Most of those flights were either 2 or 3 hours late, canceled, or screwed up in some way or other. No wonder DAL wanted to get shuck of them. ASA was never, ever as bad as this company was. Quite often their crew scheduling didn't even know where their crews were supposed to be, let alone the aircraft to operate the flight! How the heck can you run a business this way?

This current year ASA has been beating even mainline DAL in performance parameters, left right and center! Happy workforce=better work ethics=better performance=customer satisfaction. A lot of this turnaround is due to the new management (ex SKYW) that is in place right now. ASA is really coming good, and is really going places, even now in these current hard times we all face. True, the 50 seat RJ is probably going to have less market share, but the legacy carriers will always need some feed, perhaps with an emphasis on the stretch versions, and some more turboprops. More bums in more seats, four times a day instead of six, with less gas burn, and you may come closer to making it work!

Sad to say, but if MESA makes it through this mess it will be simply incredible.

 

[WAZUP]

J Ornstool...... that still cracks me up

 

[redflyer65]

From the Mesa website, it looks like the board authorized the re-issue of more stock. It will be interesting to see the affect on the stock price.

De-listing should be right around the corner.

 

[spitfire1500]

Nobody.. Every other pilot group is somewhat respectable. As long as they dont pick up any Mesa pilots.

Hey TopDawg....F#ck U!!

 

[CX880]

Sad to say, but if MESA makes it through this mess it will be simply incredible.

I'm not sure if it's all going to dissapear. They most likely will shed their operation but they still have over 50 70+ seater that's still useful.

 

[dooork]

It is so terribly unfortunate that the current MAG pilots chose to take a job where they are at right now. There should be no ill will against those who made this choice, we all started somewhere. The workforce has suffered a lot, and all you mesa bashers should be thinking of the thousands who will lose their jobs at this company before the summer is done. All the best to those who work there, I just hope you bail out as soon as the opportunity presents itself! Good luck.

Let's face it, bad management is solely to blame, and guess what, those responsible will get out with golden parachute intact! They will fade into the sunset with more money that we as pilots could ever wish for in an entire career, all gleaned from the backs of those who simply are trying to make something from their flying careers.

I have had many unfortunate experiences during 2007 when MESA replaced ASA on my commuting route from ATL due to DAL's decision to use them on 50% of my flights to get to and from work. It was absolute hell. Absolute hell! Most of those flights were either 2 or 3 hours late, canceled, or screwed up in some way or other. No wonder DAL wanted to get shuck of them. ASA was never, ever as bad as this company was. Quite often their crew scheduling didn't even know where their crews were supposed to be, let alone the aircraft to operate the flight! How the heck can you run a business this way?

This current year ASA has been beating even mainline DAL in performance parameters, left right and center! Happy workforce=better work ethics=better performance=customer satisfaction. A lot of this turnaround is due to the new management (ex SKYW) that is in place right now. ASA is really coming good, and is really going places, even now in these current hard times we all face. True, the 50 seat RJ is probably going to have less market share, but the legacy carriers will always need some feed, perhaps with an emphasis on the stretch versions, and some more turboprops. More bums in more seats, four times a day instead of six, with less gas burn, and you may come closer to making it work!

Sad to say, but if MESA makes it through this mess it will be simply incredible.

BS..BS..BS. Are you talking about when ASA ran the F#c%ing ramp.....O yea..that

 

[bizicmo]

From the Mesa website, it looks like the board authorized the re-issue of more stock. It will be interesting to see the affect on the stock price.

De-listing should be right around the corner.

Who in the world would be buying this stock? To issue more when its already less then a dollar, the valve is just being totally dilluted.

 

[SoberIrishman]

BS..BS..BS. Are you talking about when ASA ran the F#c%ing ramp.....O yea..that

Everyone agrees that ASA ramp operations were terrible, but MESA's flight operation was much worse!
Just ask any of the Comair ramp people in MCO what their views are.

 

[CallmeJB]

It is so terribly unfortunate that the current MAG pilots chose to take a job where they are at right now. There should be no ill will against those who made this choice, we all started somewhere. The workforce has suffered a lot, and all you mesa bashers should be thinking of the thousands who will lose their jobs at this company before the summer is done. All the best to those who work there, I just hope you bail out as soon as the opportunity presents itself! Good luck.

Let's face it, bad management is solely to blame, and guess what, those responsible will get out with golden parachute intact! They will fade into the sunset with more money that we as pilots could ever wish for in an entire career, all gleaned from the backs of those who simply are trying to make something from their flying careers.

...

Sad to say, but if MESA makes it through this mess it will be simply incredible.

Didn't somebody post this same rant about Mesaba 2 years ago?