Mesa Air Group reported total operating revenues of $103.2 million with a net loss of $114.6 million

From GlobeNewswire: 2025-05-19 07:00:00

Mesa Air Group, Inc. reported their first quarter fiscal 2025 financial results, showing total operating revenues of $103.2 million. They also reported a pre-tax loss of $116.3 million and a net loss of $114.6 million. Adjusted net loss was $4.0 million, with an adjusted EBITDAR of $12.6 million. Mesa operated at a 100% controllable completion factor and anticipates increased block hour utilization in the coming quarters.

In the first quarter of fiscal 2025, Mesa’s total operating revenues were $103.2 million, down by 13.1% compared to the same period in 2024. Contract revenue decreased by 20.2%, driven by reduced contractual aircraft with United Airlines and higher deferred revenue. Pass-through revenue increased by 27.6%, primarily due to higher pass-through maintenance expenses. Mesa’s net loss for the quarter was $114.6 million, compared to $57.9 million in the first quarter of 2024.

Mesa’s operating performance in Q1 2025 included a controllable completion factor of 100.00% for United, compared to 99.92% in Q1 2024. The company operated 62 large jets under its CPA with United during the quarter. Mesa ended the December 2024 quarter with $40.0 million in unrestricted cash and cash equivalents, with $230.6 million in total debt. As of March 31, 2025, Mesa had $54.1 million in unrestricted cash and cash equivalents.

Mesa Air Group, Inc. is a regional air carrier based in Phoenix, Arizona, providing scheduled passenger service to various destinations. They operate a fleet of 60 aircraft and had approximately 1,650 employees as of March 31, 2025. The company operates all flights as United Express under a capacity purchase agreement with United Airlines. Mesa is working on completing the Form 10-Q for the period ended March 31, 2025, and plans to file it soon.



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