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Published on 9/21/2010 in the Prospect News Distressed Debt Daily.

Mesa Air Group operating income improves to $5.27 million in August

By Caroline Salls

Pittsburgh, Sept. 21 - Mesa Air Group, Inc. reported $5.27 million of operating income for August on $65.55 million in total revenues, according to its monthly operating report filed Tuesday with the Securities and Exchange Commission.

In comparison, the company posted $134,000 of operating income for July on $66.34 million in total revenues.

The net loss for August was $201.48 million, widening significantly from a $27.89 million July net loss.

Mesa had $58.21 million in cash and cash equivalents at Aug. 31, up from $53.28 million at the end of July.

Mesa Air, a Phoenix-based provider of passenger and airfreight services, filed for bankruptcy on Jan. 5, 2010 in the U.S. Bankruptcy Court for the Southern District of New York. The Chapter 11 case number is 10-10018.


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