Air Transport World


Mesa Air Group, parent of financially recovering Mesa Airlines, signed a letter of intent to merge with Charlotte, NC-based CCAir, another US Airways Express carrier. The all-stock transaction is valued at around $60 million and includes $15 million of assumed debt.

The agreement calls for Mesa will acquire all outstanding shares of CCAir's common stock by issuing Mesa shares equivalent in value to $5.40 for each share of CCAir common stock. Consummation of the merger is subject to "due diligence," regulatory approval and the execution of a definitive purchase agreement.

"CCAir makes an excellent fit because of its Charlotte hub," said Mesa President and CEO Jonathan Ornstein, who has taken a number of steps recently to improve Mesa's marketability. …

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