Mesa Air Group Turns To Profit In Q3

(RTTNews) - Mesa Air Group (MESA) reported third quarter net income of $20.9 million, or $0.50 per share, compared to a net loss of $19.9 million, or $0.48 per share, a year ago. Adjusted net loss was $0.6 million, or $0.01 per share, compared to an adjusted net loss of $9.4 million, or $0.23 per share, last year.

Total operating revenues were $92.8 million, lower by 16.3%, compared to $110.8 million, previous year. Contract revenue was $69.9 million, lower by 26.8%, compared to $95.6 million. The company said these decreases were driven by the reduction in contractual aircraft with United Airlines.

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