MESA AIR GROUP INC
For the period ended Dec 31, 2023. Filed May 24, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed May 24, 2024
RJET$21.42+0.8%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
(In thousands) (Unaudited)
| Three Months Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Cash flows from operating activities: | ||
| Net loss | $(57,850) | $(9,090) |
| Adjustments to reconcile net loss to net cash flows provided by (used in) operating activities: | ||
| Depreciation and amortization | 13,293 | 15,203 |
| Stock compensation expense | 427 | 688 |
| Unrealized (gain)/loss on investments, net | (2,451) | 1,679 |
| Deferred income taxes | 428 | (1,014) |
| Amortization of deferred credits | (153) | (213) |
| Amortization of debt discount and issuance costs and accretion of interest into long-term debt | 2,291 | 1,379 |
| Asset impairment | 40,384 | 3,719 |
| (Gain)/loss on sale of assets | 386 | — |
| (Gain) on extinguishment of debt | (2,954) | — |
| Other | 912 | 55 |
| Changes in assets and liabilities: | ||
| Receivables | 2,736 | (9,137) |
| Expendable parts and supplies | 415 | 1,150 |
| Prepaid expenses and other operating assets and liabilities | 2,604 | 2,290 |
| Accounts payable | (3,903) | (7,008) |
| Deferred revenue | (3,002) | (5,256) |
| Accrued expenses and other liabilities | (1,513) | (656) |
| Operating lease right-of-use assets and liabilities | 109 | 177 |
| Net cash used in operating activities | (7,841) | (6,034) |
| Cash flows from investing activities: | ||
| Capital expenditures | (6,884) | (16,740) |
| Proceeds from sale of aircraft and engines | 53,489 | — |
| Refund (payment) of equipment and other deposits | — | 131 |
| Net cash provided by (used in) investing activities | 46,605 | (16,609) |
| Cash flows from financing activities: | ||
| Proceeds from long-term debt | 81,855 | 39,000 |
| Principal payments on long-term debt and finance leases | (137,489) | (17,544) |
| Payments of debt and warrant issuance costs | — | (417) |
| Payment of tax withholding for RSUs | — | (1) |
| Net cash (used in) provided by financing activities | (55,634) | 21,038 |
| Net change in cash, cash equivalents and restricted cash | (16,870) | (1,605) |
| Cash, cash equivalents and restricted cash at beginning of period | 36,072 | 61,025 |
| Cash, cash equivalents and restricted cash at end of period | $19,202 | $59,420 |
| Supplemental cash flow information | ||
| Cash paid for interest | $6,948 | $7,763 |
| Cash paid for income taxes, net | $— | $— |
| Operating lease payments in operating cash flows | $1,211 | $4,679 |
| Supplemental non-cash operating activities | ||
| Right-of-use assets obtained in exchange for lease liabilities | $339 | $236 |
| Supplemental non-cash financing activities | ||
| Finance lease obtained in exchange for lease liability | $— | $76,185 |
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