Mesa Air reports net income of USD 3m in Q3 FY 2020

Mesa Air Group, Inc. (NASDAQ: MESA) has reported third quarter fiscal 2020 net income of USD 3.4 million, or USD 0.10 per diluted share, compared to net income of USD 3.0 million, or USD 0.09 per diluted share for Q3 2019, the company said.

Mesa´s Q3 2020 pre-tax income was USD 4.9 million, compared to USD 3.9 million for Q3 2019. Mesa´s Q3 2020 adjusted pre-tax income1 was USD 4.9 million, compared to USD 13.4 million for Q3 2019.

Mesa´s Adjusted EBITDA1 for Q3 2020 was USD 35.9 million, compared to USD 58.8 million in Q3 2019, and Adjusted EBITDA was USD 51.5 million, compared to USD 58.8 million in Q3 2019.

Total operating expense decreased by USD 105.3 million, or 64.5%, to USD 57.9 million in Q3 2020 as compared to Q3 2019.

From a fleet perspective, the twenty new E175s for United are scheduled for delivery beginning in September and will continue through June 2021.

Mesa ended the quarter at USD 64.9 million in unrestricted cash and equivalents compared to USD 52.4 million in Q2 FY2020.

Mesa Air Group, Inc. is the holding company of Mesa Airlines, a regional air carrier providing scheduled passenger service to 91 cities in 36 states, the District of Columbia and Mexico. As of July 31st, 2020, Mesa operated a fleet of 145 aircraft with approximately 299 daily departures and 3,400 employees. Mesa operates all of its flights as either American Eagle or United Express flights pursuant to the terms of capacity purchase agreements entered into with American Airlines, Inc. and United Airlines, Inc.