MESA AIR GROUP INC
For the period ended Mar 31, 2025. Filed May 20, 2025.
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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, 2025 · Filed May 20, 2025
RJET$21.42+0.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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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, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Operating revenues: | ||||
| Contract revenue (2025 - $65,975 and $144,545 and 2024 - $111,517 and $207,928 from related party) | $68,423 | $113,820 | $149,101 | $214,920 |
| Pass-through and other revenue | 26,324 | 17,762 | 48,879 | 35,439 |
| Total operating revenues | 94,747 | 131,582 | 197,980 | 250,359 |
| Operating expenses: | ||||
| Flight operations | 36,197 | 49,329 | 71,470 | 101,147 |
| Maintenance | 43,539 | 44,272 | 90,066 | 92,899 |
| Aircraft rent | 1,324 | 1,408 | 2,940 | 2,612 |
| General and administrative | 11,484 | 11,133 | 21,003 | 23,142 |
| Depreciation and amortization | 5,955 | 9,823 | 13,934 | 23,116 |
| Asset impairment | 46,173 | 2,659 | 111,838 | 43,043 |
| Loss on sale of assets | 7,706 | — | 54,397 | — |
| (Gain) on extinguishment of debt | — | — | — | (2,954) |
| Other operating expenses | (379) | 1,315 | 381 | 4,159 |
| Total operating expenses | 151,999 | 119,939 | 366,029 | 287,164 |
| Operating (loss) income | (57,252) | 11,643 | (168,049) | (36,805) |
| Other (expense) income, net: | ||||
| Interest expense | (5,334) | (10,640) | (12,398) | (21,800) |
| Interest income | 24 | 14 | 41 | 28 |
| Gain on investments | — | 7,230 | — | 7,230 |
| Unrealized loss on investments, net | (11) | (6,499) | (53) | (4,048) |
| Gain on debt forgiveness | — | 10,500 | 4,500 | 10,500 |
| Other income (expense), net | 79 | (516) | (2,820) | (359) |
| Total other (expense) income, net | (5,242) | 89 | (10,730) | (8,449) |
| (Loss) income before taxes | (62,494) | 11,732 | (178,779) | (45,254) |
| Income tax (benefit)/expense | (3,863) | 72 | (5,591) | 936 |
| Net (loss) income and comprehensive (loss) income | $(58,631) | $11,660 | $(173,188) | $(46,190) |
| Net (loss) income per share attributable to | ||||
| common shareholders | ||||
| Basic | $(1.42) | $0.28 | $(4.19) | $(1.13) |
| Diluted | $(1.42) | $0.28 | $(4.19) | $(1.13) |
| Weighted-average common shares outstanding | ||||
| Basic | 41,334 | 41,068 | 41,333 | 41,004 |
| Diluted | 41,334 | 41,068 | 41,333 | 41,004 |
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