Headquartered in Phoenix, Arizona, Mesa Air Group, Inc. is the holding company of Mesa Airlines, a regional air carrier providing scheduled passenger service to 106 cities in 38 states, the District of Columbia, the Bahamas, and Mexico as well as cargo services out of Cincinnati/Northern Kentucky International Airport. As of February 28th, 2021, Mesa operated a fleet of 16 aircraft with approximately 393 daily departures and 3,100 employees. Mesa operates all of its flights as either American Eagle, United Express, or DHL Express flights pursuant to the terms of capacity purchase agreements entered into with American Airlines, Inc., United Airlines, Inc., and DHL.

Company profile
Ticker
MESA
Exchange
Website
CEO
Jonathan Ornstein
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
MESA AIRLINES INC
SEC CIK
Corporate docs
Subsidiaries
Mesa Airlines, Inc. • Mesa Air Group—Airline Inventory Management, LLC ...
IRS number
850302351
MESA stock data
News

Mesa Air Group: Q3 Earnings Insights
8 Aug 22
CORRECTION: Mesa Air Group Q3 Adj. EPS $(0.20) Beats $(0.22) Estimate, Sales $134.40M Beat $123.82M Estimate
8 Aug 22
12 Industrials Stocks Moving In Monday's After-Market Session
8 Aug 22
Earnings Scheduled For August 8, 2022
8 Aug 22
Mesa Air Group Earnings Preview
5 Aug 22
Calendar
8 Aug 22
12 Aug 22
30 Sep 22
Financial summary
Quarter (USD) | Jun 22 | Mar 22 | Dec 21 | Sep 21 | |
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Operating income | |||||
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Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Sep 21 | Sep 20 | Sep 19 | Sep 18 | |
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Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 57.8M | 57.8M | 57.8M | 57.8M | 57.8M | 57.8M |
Cash burn (monthly) | 7.15M | 10.5M | 4.16M | 7.99M | (no burn) | (no burn) |
Cash used (since last report) | 10.24M | 15.04M | 5.96M | 11.45M | n/a | n/a |
Cash remaining | 47.55M | 42.76M | 51.84M | 46.34M | n/a | n/a |
Runway (months of cash) | 6.7 | 4.1 | 12.5 | 5.8 | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
15 Jul 22 | Gillman Brian S | Common Stock | Payment of exercise | Dispose F | No | No | 2.03 | 1,050 | 2.13K | 68,536 |
15 Jul 22 | Gillman Brian S | Common Stock | Option exercise | Acquire M | No | No | 0 | 2,527 | 0 | 69,586 |
15 Jul 22 | Gillman Brian S | Restricted Stock Award Common Stock | Option exercise | Dispose M | No | No | 0 | 2,527 | 0 | 86,649 |
1 Jun 22 | Lotz Michael | Common Stock | Payment of exercise | Dispose F | No | No | 2.9 | 44,781 | 129.86K | 305,646 |
1 Jun 22 | Lotz Michael | Common Stock | Option exercise | Acquire M | No | No | 0 | 63,045 | 0 | 350,427 |
1 Jun 22 | Lotz Michael | Common Stock | Option exercise | Acquire M | No | No | 0 | 21,573 | 0 | 287,382 |
1 Jun 22 | Lotz Michael | Common Stock | Option exercise | Acquire M | No | No | 0 | 23,158 | 0 | 265,809 |
1 Jun 22 | Lotz Michael | Restricted Stock Award Common Stock | Grant | Acquire A | No | No | 0 | 160,305 | 0 | 266,496 |
1 Jun 22 | Lotz Michael | Restricted Stock Award Common Stock | Option exercise | Dispose M | No | No | 0 | 63,045 | 0 | 106,191 |
1 Jun 22 | Lotz Michael | Restricted Stock Award Common Stock | Option exercise | Dispose M | No | No | 0 | 21,573 | 0 | 169,236 |
Institutional ownership, Q1 2022
57.5% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 96 |
Opened positions | 9 |
Closed positions | 16 |
Increased positions | 28 |
Reduced positions | 45 |
13F shares | Current |
---|---|
Total value | 961.3M |
Total shares | 20.87M |
Total puts | 146.6K |
Total calls | 96.4K |
Total put/call ratio | 1.5 |
Largest owners | Shares | Value |
---|---|---|
BLK Blackrock | 2.48M | $10.91M |
Royce & Associates | 1.88M | $8.27M |
Vanguard | 1.71M | $7.51M |
Marblegate Asset Management | 1.55M | $13.87M |
Dimensional Fund Advisors | 1.1M | $4.85M |
BAC Bank Of America | 877.44K | $3.86M |
Wedge Capital Management L L P | 790.91K | $3.48M |
Renaissance Technologies | 676.12K | $2.98M |
PRU Prudential Financial | 632.12K | $2.78M |
STT State Street | 608.47K | $2.68M |
Financial report summary
?Risks
- We are highly dependent on our agreements with our major partners.
- Reduced utilization levels of our aircraft under our agreements would adversely impact our financial results.
- If our major 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.
- Mechanic attrition, together with difficulty recruiting and retaining qualified maintenance technicians, may 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.
- Our major partners may expand their direct operation of regional jets or seek other independent airlines to service their regional aircraft needs, thus limiting the expansion of our relationships with them.
- We may be limited from expanding our flying within our major 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 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 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 agreements with our major 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.
- Maintenance costs will likely increase as the age of our jet fleet increases.
- 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.
- 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 partners.
- 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 market price of our common stock may be volatile, which could cause the value of an investment in our stock to decline.
- Our corporate charter includes provisions limiting ownership by non-U.S. citizens.
- We currently do not intend to pay dividends on our common stock and, consequently, your only opportunity to achieve a return on your investment is if the price of our common stock appreciates.
- 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 $0.2 million in our three months ended June 30, 2022 compared to operating income of $14.4 million in our three months ended June 30, 2021. In our three months ended June 30, 2022, we had net loss of $10.0 million compared to net income of $4.3 million in our three months ended June 30, 2021.
- Our operating results for the three months ended June 30, 2022 reflect an increase in flight operations expense resulting from increased pilot training as well as a decrease in maintenance expense mainly as a result of fewer C-checks. Additionally, there were no government grant funds utilized as an offset to operating expenses during the three months ended June 30, 2022, compared to $26.1 million during the three months ended June 30, 2021.
Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
H.S. sophomore Avg
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New words:
Absent, added, aforementioned, airmen, ALPA, attract, attracting, backfill, CA, certainty, challenging, check, clarify, classroom, collaboratively, constrained, COVID, deal, disproportionately, efficiency, elevated, environment, exacerbating, exploring, extreme, fallen, fill, foreclose, foreclosing, fruition, growing, Guaranty, half, hearing, hire, hiring, immune, lieu, listed, lost, match, metric, monetize, mutually, necessitate, noncompliance, Notification, Notwithstanding, objective, outlined, output, persist, plagued, production, rapidly, realized, recruited, recruitment, refinance, retire, scope, shortage, Shortfall, simulator, slight, static, stemming, strong, thereunder, throughput, turn, wage, waiting
Removed:
select, unspecified
Financial reports
Current reports
8-K
Mesa Air Group Reports Third Quarter Fiscal 2022 Results
8 Aug 22
8-K
Mesa Air Group Reports Second Quarter Fiscal 2022 Results
9 May 22
8-K
Submission of Matters to a Vote of Security Holders
15 Feb 22
8-K
Mesa Air Group Reports First Quarter Fiscal 2022 Results
9 Feb 22
8-K
Mesa Air Group Reports Fourth Quarter and Full-Year Fiscal 2021 Results
9 Dec 21
8-K
Departure of Directors or Certain Officers
1 Oct 21
8-K
Mesa Air Group Reports Third Quarter Fiscal 2021 Results
10 Aug 21
8-K
Mesa to invest in Heart Aerospace and Orders 100 All-Electric Aircraft
22 Jul 21
8-K
Mesa Air Group Reports Second Quarter Fiscal 2021 Results
11 May 21
8-K
Mesa Air Group Reports First Quarter Fiscal 2021 Results
9 Feb 21
Registration and prospectus
424B4
Prospectus supplement with pricing info
28 Apr 21
S-3/A
Shelf registration (amended)
25 Jan 21
S-3
Shelf registration
11 Dec 20
S-8
Registration of securities for employees
15 Aug 19
S-8
Registration of securities for employees
15 Aug 19
424B4
Prospectus supplement with pricing info
10 Aug 18
S-8
Registration of securities for employees
10 Aug 18
FWP
Free writing prospectus
9 Aug 18
Other
EFFECT
Notice of effectiveness
29 Apr 21
CORRESP
Correspondence with SEC
25 Apr 21
CORRESP
Correspondence with SEC
17 Mar 21
UPLOAD
Letter from SEC
7 Feb 21
CORRESP
Correspondence with SEC
24 Jan 21
UPLOAD
Letter from SEC
6 Jan 21
UPLOAD
Letter from SEC
15 Mar 20
CORRESP
Correspondence with SEC
20 Feb 20
UPLOAD
Letter from SEC
6 Feb 20
EFFECT
Notice of effectiveness
10 Aug 18
Ownership
4
MESA AIR / BRIAN S GILLMAN ownership change
19 Jul 22
SC 13G
MESA AIR / BlackRock ownership change
8 Jul 22
4
MESA AIR / JONATHAN G ORNSTEIN ownership change
3 Jun 22
4
MESA AIR / BRIAN S GILLMAN ownership change
2 Jun 22
4
MESA AIR / MICHAEL LOTZ ownership change
2 Jun 22
4
MESA AIR / BRADFORD R RICH ownership change
11 Apr 22
4
MESA AIR / Daniel Torque Zubeck ownership change
25 Mar 22
4
MESA AIR / BRADFORD R RICH ownership change
25 Mar 22
4
MESA AIR / Daniel Torque Zubeck ownership change
22 Mar 22
4
MESA AIR / BRADFORD R RICH ownership change
22 Mar 22
Transcripts
2022 Q3
Earnings call transcript
9 Aug 22
2022 Q2
Earnings call transcript
10 May 22
2022 Q1
Earnings call transcript
10 Feb 22
2021 Q4
Earnings call transcript
10 Dec 21
2021 Q3
Earnings call transcript
10 Aug 21
2021 Q2
Earnings call transcript
11 May 21
2021 Q1
Earnings call transcript
10 Feb 21
2020 Q4
Earnings call transcript
9 Dec 20
2020 Q3
Earnings call transcript
10 Aug 20
2020 Q2
Earnings call transcript
11 May 20
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