MESA AIR GROUP INC
For the period ended Jun 30, 2024. Filed Oct 15, 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.
Jun 30, 2024 · Filed Oct 15, 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)
| Nine Months Ended June 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(66,097) | $(91,771) |
| Adjustments to reconcile net loss to net cash flows provided by (used in) operating activities: | ||
| Depreciation and amortization | 32,846 | 47,060 |
| Stock compensation expense | 1,047 | 1,912 |
| Unrealized loss/(gain) on investments, net | 6,073 | (3,275) |
| Realized gain on investments | (6,454) | — |
| Deferred income taxes | (355) | (6,157) |
| Amortization of deferred credits | (798) | 1,407 |
| Amortization of debt discount and issuance costs and accretion of interest into long-term debt | 6,243 | 4,922 |
| Asset impairment | 50,923 | 50,951 |
| Loss/(Gain) on sale of assets | 150 | (7,271) |
| (Gain) on extinguishment of debt | (2,954) | — |
| (Gain) on debt forgiveness | (10,500) | — |
| Other | 3,187 | 1,973 |
| Changes in assets and liabilities: | ||
| Receivables | 2,300 | 396 |
| Expendable parts and supplies | (1,407) | (2,016) |
| Prepaid expenses and other operating assets and liabilities | 4,006 | 125 |
| Accounts payable | 6,055 | (6,349) |
| Deferred revenue | (8,302) | (1,342) |
| Deferred heavy maintenance, net | (1,637) | (1,382) |
| Accrued expenses and other liabilities | 5,771 | (5,689) |
| Operating lease right-of-use assets and liabilities | (501) | 2,669 |
| Net cash provided by (used in) operating activities | 19,596 | (13,837) |
| Cash flows from investing activities: | ||
| Capital expenditures | (16,908) | (31,619) |
| Proceeds from sale of aircraft and engines | 127,136 | 139,878 |
| Proceeds from sale of investments in equity securities | 2,729 | — |
| Investment transaction costs | (380) | — |
| Refund of equipment and other deposits | 341 | 740 |
| Net cash provided by investing activities | 112,918 | 108,999 |
| Cash flows from financing activities: | ||
| Proceeds from long-term debt | 86,855 | 39,000 |
| Principal payments on long-term debt and finance leases | (235,156) | (142,577) |
| Debt prepayment costs | (922) | — |
| Payments of debt and warrant issuance costs | — | (917) |
| Proceeds from issuance of ESPP | 48 | 148 |
| Payment of tax withholding for RSUs | (126) | (346) |
| Net cash used in financing activities | (149,301) | (104,692) |
| Net change in cash, cash equivalents and restricted cash | (16,787) | (9,530) |
| Cash, cash equivalents and restricted cash at beginning of period | 36,072 | 61,025 |
| Cash, cash equivalents and restricted cash at end of period | $19,285 | $51,495 |
| Supplemental cash flow information | ||
| Cash paid for interest | $23,344 | $28,801 |
| Cash paid for income taxes, net | $— | $27 |
| Operating lease payments in operating cash flows | $3,738 | $8,203 |
| Supplemental non-cash operating activities | ||
| Right-of-use assets obtained in exchange for lease liabilities | $419 | $755 |
| Supplemental non-cash financing activities | ||
| Finance lease obtained in exchange for lease liability | $— | $65,094 |
| Principal payments in exchange for transfer of equity investment | $12,610 | $— |
| Principal forgiven | $10,500 | $— |
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