Air Transport World

MESA'S LOSSES CONTINUE

Mesa Air Group posted a second-quarter net loss of $9.2 million on total operating revenues of $119.4 million, which compares with a net loss of $989,000 on revenues of $125.4 million for the year-earlier period.

Expenses increased 9% to $131.1 million from $120.8 million. Included in the operating expenses is a $4 million loss provision related to the discontinuation of the company's independent jet operations at Ft. Worth and a $2.5 million reserve related to the anticipated settlement costs of a shareholder class-action suit.

New CEO Jonathan Ornstein didn't mince words on the airline's financial performance: "The result for the first quarter are clearly unsatisfactory, particularly in light of the current strong operating environment. …

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