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MESA Mesa Air

Mesa Air Group, Inc. operates as a holding company. The firm engages in the provision of regional air carrier and passenger transportation services. Its fleet includes American Eagle and United Express flights. The company was founded in 1982 and is headquartered in Phoenix, AZ.

Company profile

Ticker
MESA
Exchange
CEO
Jonathan Ornstein
Employees
Incorporated
Location
Fiscal year end
Former names
MESA AIRLINES INC
SEC CIK
IRS number
850302351

MESA stock data

(
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Calendar

9 Feb 21
13 Apr 21
30 Sep 21
Quarter (USD)
Dec 20 Sep 20 Jun 20 Mar 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Sep 20 Sep 19 Sep 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Mesa Air earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
8 Apr 21 Rich Bradford R Common Stock Payment of exercise Dispose F No No 13.1 1,998 26.17K 24,031
8 Apr 21 Rich Bradford R Common Stock Option exercise Aquire M No No 0 6,995 0 26,029
8 Apr 21 Rich Bradford R Restricted Stock Awards Common Stock Option exercise Dispose M No No 0 6,995 0 63,417
20 Mar 21 Rich Bradford R Common Stock Payment of exercise Dispose F No No 14.47 6,354 91.94K 19,034
20 Mar 21 Rich Bradford R Common Stock Option exercise Aquire M No No 14.47 21,299 308.2K 25,388
20 Mar 21 Rich Bradford R Restricted Stock Award Common Stock Grant Aquire A No No 0 13,822 0 70,412
20 Mar 21 Rich Bradford R Restricted Stock Award Common Stock Option exercise Dispose M No No 0 21,299 0 56,590
12 Mar 21 Jonathan G Ornstein Common Stock Sell Dispose S No No 16.08 5,000 80.4K 500,000
11 Mar 21 Jonathan G Ornstein Common Stock Sell Dispose S No No 17.08 20,000 341.6K 505,000
10 Mar 21 Gillman Brian S Common Stock Sell Dispose S No No 16.28 5,000 81.4K 30,000

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

63.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 87 79 +10.1%
Opened positions 17 12 +41.7%
Closed positions 9 16 -43.8%
Increased positions 23 27 -14.8%
Reduced positions 30 25 +20.0%
13F shares
Current Prev Q Change
Total value 1.35B 608.45M +121.1%
Total shares 22.7M 22.12M +2.6%
Total puts 96.6K 12.6K +666.7%
Total calls 198.2K 26.2K +656.5%
Total put/call ratio 0.5 0.5 +1.3%
Largest owners
Shares Value Change
Corre Partners Management 2.62M $17.51M NEW
UBS UBS Group AG - Registered Shares 2.35M $15.74M +6.5%
MSD Partners 2.26M $15.09M 0.0%
BLK Blackrock 2.18M $14.61M +3.3%
Royce & Associates 1.64M $10.97M +44.3%
Vanguard 1.51M $10.11M +1.5%
Wedge Capital Management L L P 1.51M $10.09M -13.8%
PRU Prudential Financial 864.18K $5.78M -0.5%
STT State Street 845.05K $5.65M +4.9%
Dimensional Fund Advisors 719.47K $4.81M +6.7%
Largest transactions
Shares Bought/sold Change
Corre Partners Management 2.62M +2.62M NEW
Owl Creek Asset Management 10 -1.25M -100.0%
Royce & Associates 1.64M +503.68K +44.3%
Assenagon Asset Management 44.17K -476.24K -91.5%
WFC Wells Fargo & Co. 352.25K -356.19K -50.3%
Arrowstreet Capital, Limited Partnership 225.03K -336.38K -59.9%
MS Morgan Stanley 333.21K +297.87K +842.9%
Wedge Capital Management L L P 1.51M -240.71K -13.8%
Acadian Asset Management 0 -229.21K EXIT
Citadel Advisors 0 -168.44K EXIT

Financial report summary

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Competition
Alaska AirSkywest
Risks
  • We are highly dependent on our agreements with our major airline partners.
  • If our major airline partners experience events that negatively impact their financial strength or operations, our operations also may be negatively impacted.
  • The supply of pilots to the airline industry is limited and may negatively affect our operations and financial condition.
  • Pilot attrition may continue to negatively affect our operations and financial condition.
  • Increases in our labor costs, which constitute a substantial portion of our total operating costs, may adversely affect our business, results of operations and financial condition.
  • We may be limited from expanding our flying within our major airline partners' flight systems and there are constraints on our ability to provide services to airlines other than American and United.
  • The residual value of our owned aircraft may be less than estimated in our depreciation policies.
  • The amounts we receive under our capacity purchase agreements may be less than the corresponding costs we incur.
  • Strikes, labor disputes and increased unionization of our workforces may adversely affect our ability to conduct our business and reduce our profitability.
  • We face tail risk in that we have aircraft lease commitments that extend beyond our existing capacity purchase agreement contractual terms on certain aircraft.
  • We may incur substantial maintenance costs as part of our leased aircraft return obligations.
  • We may become involved in litigation that may materially adversely affect us.
  • Disagreements regarding the interpretation of our capacity purchase agreements with our major airline partners could have an adverse effect on our operating results and financial condition.
  • We rely on third-party suppliers as the sole manufacturers of our aircraft and aircraft engines.
  • If we face problems with any of our third-party service providers, our operations could be adversely affected.
  • Regulatory changes or tariffs could negatively impact our business and financial condition.
  • The issuance of operating restrictions applicable to one of the fleet types we operate could negatively impact our business and financial condition.
  • If we have a failure in our technology or security breaches of our information technology infrastructure our business and financial condition may be adversely affected.
  • We are subject to various environmental and noise laws and regulations, which could have a material adverse effect on our business, results of operations and financial condition.
  • Our ability to utilize our net operating loss carryforwards and certain other tax attributes may be limited.
  • We may not be able to successfully implement our growth strategy.
  • We may not be able to make opportunistic acquisitions should we elect to do so as part of our growth strategy.
  • Our ability to obtain financing or access capital markets may be limited.
  • Negative publicity regarding our customer service could have a material adverse effect on our business, results of operations and financial condition.
  • Risks associated with our presence in international emerging markets, including political or economic instability, and failure to adequately comply with existing legal requirements, may materially adversely affect us.
  • The airline industry is highly competitive and has undergone a period of consolidation and transition leaving fewer potential major airline partners.
  • We are subject to significant governmental regulation.
  • Airlines are often affected by factors beyond their control including: air traffic congestion at airports; air traffic control inefficiencies; adverse weather conditions, such as hurricanes or blizzards; increased security measures; new travel related taxes or the outbreak of disease; any of which could have a material adverse effect on our business, results of operations and financial condition.
  • Terrorist activities or warnings have dramatically impacted the airline industry and will likely continue to do so.
  • The occurrence of an aviation accident involving our aircraft would negatively impact our operations and financial condition.
  • The market price of our common stock may be volatile, which could cause the value of an investment in our stock to decline.
  • The value of our common stock may be materially adversely affected by additional issuances of common stock underlying our outstanding warrants.
  • Provisions in our charter documents might deter acquisition bids for us, which could adversely affect the price of our common stock.
  • Our corporate charter includes provisions limiting ownership by non-U.S. citizens.
  • Our corporate charter limits certain transfers of our stock, which limits are intended to preserve our ability to use our net operating loss carryforwards, and these limits could have an effect on the market price and liquidity of our common stock.
  • We are an "emerging growth company," and the reduced disclosure and regulatory requirements applicable to "emerging growth companies" may make our common stock less attractive to investors.
  • The requirements of being a public company may strain our resources, increase our operating costs, divert management's attention and affect our ability to attract and retain qualified board members or executive officers.
  • We are required to assess our internal control over financial reporting on an annual basis, and any future adverse findings from such assessment could result in a loss of investor confidence in our financial reports, result in significant expenses to remediate any internal control deficiencies and have a material adverse effect on our business, results of operations and financial condition.
Management Discussion
  • We had operating income of $27.0 million in our three months ended December 31, 2020 compared to operating income of $27.2 million in our three months ended December 31, 2019.  In our three months ended December 31, 2020, we had net income of $14.1 million compared to net income of $10.8 million in our three months ended December 31, 2019.  Our operating results for the three months ended December 31, 2020 reflected a decrease in contract revenue primarily related to lower flying on our CRJ-900, CRJ-700, and E-175 fleet due to the impact of COVID-19 and an increase in pass-through and other revenues primarily due to an increase in maintenance pass-through expense.
  • Flight operations expense decreased in the three months ended December 31, 2020 due to lower pilot and flight attendant wages and pilot training expenses. Our maintenance expense decreased primarily due to fewer airframe C-checks and engine heavy maintenance events and lower component contracts, parts, and labor expense offset by higher pass-through maintenance.  Our aircraft rent decreased in the three months ended December 31, 2020 compared to the same period in 2019 primarily as a result of a decrease in engine rent.  
Content analysis
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Positive
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