MESA AIR GROUP INC
For the period ended Sep 30, 2024. Filed May 14, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed May 14, 2025
RJET$21.42+0.8%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(in thousands)
| Year Ended September 30, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities: | |||
| Net (Loss)/Income | $(91,015) | $(120,116) | $(182,678) |
| Adjustments to reconcile net loss to net cash flows provided by (used in) operating activities: | |||
| Depreciation and amortization | 40,041 | 60,359 | 81,508 |
| Stock compensation expense | 1,329 | 2,275 | 2,761 |
| Unrealized loss/(gain) on investments, net | 6,145 | (5,408) | 13,715 |
| Realized gain on investments, net | (8,032) | — | — |
| Deferred income taxes | (242) | (9,304) | (52,221) |
| Amortization of deferred credits | (1,067) | 1,535 | (852) |
| Amortization of debt discount and issuance costs and accretion of interest into long-term debt | 8,334 | 6,324 | 9,681 |
| Asset impairment | 73,709 | 54,343 | 171,824 |
| (Gain)/Loss on sale of assets | 682 | (7,162) | (4,723) |
| Loss/(Gain) on extinguishment of debt | (2,954) | 1,505 | 397 |
| Gain on debt forgiveness | (10,500) | — | — |
| Other | 4,277 | 2,236 | 867 |
| Changes in assets and liabilities: | |||
| Receivables | 2,990 | (4,275) | (811) |
| Expendable parts and supplies | (1,334) | (2,530) | (2,882) |
| Prepaid expenses and other operating assets and liabilities | 4,126 | (769) | (679) |
| Accounts payable | 13,742 | 496 | (2,772) |
| Deferred heavy maintenance, net | (1,637) | (1,382) | (8,066) |
| Deferred revenue | (11,068) | (3,020) | (10,432) |
| Accrued expenses and other liabilities | 7,281 | (3,938) | (3,175) |
| Operating lease right-of-use assets and liabilities | (563) | 4,740 | 1,900 |
| Net cash provided by (used in) operating activities | 34,244 | (24,091) | 13,362 |
| Cash flows from investing activities: | |||
| Capital expenditures | (20,313) | (36,641) | (40,814) |
| Proceeds from (purchases of) investments in equity securities, net | 9,617 | — | (200) |
| Proceeds from sale of aircraft and engines, net of transaction costs | 158,334 | 178,644 | 50,000 |
| Investment transaction costs | (380) | — | — |
| Receipt (payment) of equipment and other deposits | 1,530 | 282 | (7,621) |
| Net cash provided by investing activities | 148,788 | 142,285 | 1,365 |
| Cash flows from financing activities: | |||
| Proceeds from long-term debt | 86,855 | 60,878 | 39,811 |
| Principal payments on long-term debt and finance leases | (286,299) | (203,029) | (114,910) |
| Payments of debt and warrant issuance costs | — | (917) | (2,414) |
| Proceeds from issuance of common stock under ESPP | 30 | 284 | 399 |
| Debt prepayment costs | (922) | — | — |
| Payment of tax withholding for RSUs | (138) | (363) | (455) |
| Net cash used in financing activities | (200,474) | (143,147) | (77,569) |
| Net change in cash, cash equivalents and restricted cash | (17,442) | (24,953) | (62,842) |
| Cash, cash equivalents and restricted cash at beginning of period | 36,072 | 61,025 | 123,867 |
| Cash, cash equivalents and restricted cash at end of period | $18,630 | $36,072 | $61,025 |
| Supplemental cash flow information | |||
| Cash paid for interest | $31,492 | $38,410 | $24,895 |
| Cash paid for income taxes, net | $— | $419 | $487 |
| Operating lease payments in operating cash flows | $4,585 | $9,476 | $36,262 |
| Supplemental non-cash operating activities | |||
| Right-of-use assets obtained in exchange for lease liabilities | $419 | $2,919 | $6,286 |
| Supplemental non-cash financing activities | |||
| Finance lease obtained in exchange for lease liability | $— | $65,481 | $— |
| Principal payments in exchange for transfer of equity investment | $12,610 | $— | $— |
| Principal forgiven | $10,500 | $— | $— |
| Acquisition of finance leases | $— | $— | $15,122 |
| Investments in warrants to purchase common stock | $— | $— | $3,260 |
| Accrued capital expenditures | $— | $196 | $1,121 |
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