MESA AIR GROUP INC
For the period ended Mar 31, 2024. Filed Jun 17, 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.
Mar 31, 2024 · Filed Jun 17, 2024
RJET$21.42+0.8%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Operations and Comprehensive Loss
(In thousands, except per share amounts) (Unaudited)
| Three Months Ended March 31, | Six Months Ended March 31, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Operating revenues: | ||||
| Contract revenue (2024—$111,517 and $207,928 and 2023—$52,399 and $111,769 from related party) | $113,820 | $103,782 | $214,920 | $232,232 |
| Pass-through and other revenue | 17,762 | 18,052 | 35,439 | 36,776 |
| Total operating revenues | 131,582 | 121,834 | 250,359 | 269,008 |
| Operating expenses: | ||||
| Flight operations | 49,329 | 54,830 | 101,147 | 113,150 |
| Maintenance | 44,272 | 45,985 | 92,899 | 94,272 |
| Aircraft rent | 1,408 | 835 | 2,612 | 4,918 |
| General and administrative | 11,133 | 13,538 | 23,142 | 27,526 |
| Depreciation and amortization | 9,823 | 16,541 | 23,116 | 31,744 |
| Asset impairment | 2,659 | 16,743 | 43,043 | 20,462 |
| (Gain) on extinguishment of debt | — | — | (2,954) | — |
| Other operating expenses | 1,315 | 233 | 4,159 | 1,359 |
| Total operating expenses | 119,939 | 148,705 | 287,164 | 293,431 |
| Operating income/(loss) | 11,643 | (26,871) | (36,805) | (24,423) |
| Other income (expense), net: | ||||
| Interest expense | (10,640) | (13,030) | (21,800) | (24,306) |
| Interest income | 14 | 49 | 28 | 120 |
| Gain on investments | 7,230 | — | 7,230 | — |
| Unrealized gain/(loss) on investments, net | (6,499) | 2,095 | (4,048) | 416 |
| Gain on debt forgiveness | 10,500 | — | 10,500 | — |
| Other income (expense), net | (516) | 538 | (359) | 955 |
| Total other income/(expense), net | 89 | (10,348) | (8,449) | (22,815) |
| Income/(loss) before taxes | 11,732 | (37,219) | (45,254) | (47,238) |
| Income tax expense/(benefit) | 72 | (2,097) | 936 | (3,027) |
| Net income/(loss) and comprehensive income/(loss) | $11,660 | $(35,122) | $(46,190) | $(44,211) |
| Net income/(loss) per share attributable to | ||||
| common shareholders | ||||
| Basic | $0.28 | $(0.88) | $(1.13) | $(1.16) |
| Diluted | $0.28 | $(0.88) | $(1.13) | $(1.16) |
| Weighted-average common shares outstanding | ||||
| Basic | 41,068 | 39,932 | 41,004 | 38,135 |
| Diluted | 41,068 | 39,932 | 41,004 | 38,135 |
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