MESA

Financial Performance: Mesa Air Group reported a GAAP net income of $0.50 per share in Q3 FY2025, primarily due to a one-time gain from a warrant liability write-off, despite a 16.3% decline in revenue attributed to reduced operations with United Airlines and ongoing fleet transition.

Operational Changes and Merger Plans: The company has streamlined its operations by exclusively flying Embraer 175 jets and significantly reduced debt to $113.7 million, while preparing for a transformative merger with Republic Airways that could enhance its financial stability and operational scale.

Financial Performance: Mesa Air Group reported a net income of $20.9 million for the third quarter, a significant turnaround from a net loss of $19.9 million in the same period last year.

Revenue Decline: The company's total operating revenues decreased by 16.3% to $92.8 million, primarily due to a reduction in contractual aircraft with United Airlines, leading to a 26.8% drop in contract revenue.

Merger Announcement: Mesa Air Group filed a registration statement with the SEC for a proposed merger with Republic Airways Holdings, which includes a proxy statement and preliminary prospectus that will be sent to stockholders once effective.

Forward-Looking Statements: The announcement contains forward-looking statements regarding the merger's completion, highlighting potential risks and uncertainties that could affect the transaction timeline and terms.