Air Transport World

Mesa reduces price for CCAir.

Mesa Air Group, parent of the multi-part U.S. Regional, has reduced significantly the price it is paying for Charlotte, N.C.-based CCAir to $4.35 a share from the $5.40 share price initially offered in late August. The transaction for the US Airways Express partner now is valued at approximately $53 million.

Mesa gave no official explanation for the purchase price reduction, but it is assumed that CCAir's market value has dropped since the summer.

Under terms of the merger agreement, expected to be consummated by mid-May, each outstanding share of CCAir common stock will he converted into the right to receive a fractional share of Mesa common stock, determined by dividing $4. …

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