Mesa Air Group has announced income for the third quarter of its financial year (which ends on 30 September) from continuing operations of $1.7 million on operating revenues of $232.6 million.
Total operating revenues for the third quarter of FY09 decreased by $121.3 million (to $232.6 million from $353.9 million) resulting from a year-over-year decrease in capacity and lower fuel revenue. The income of $1.7 million compares to income from continuing operations of $1.8 million for the same period of FY08.
Pro forma net income for the quarter was $2.3 million compared to a net loss of $2.5 million for the same period of fiscal 2008. Pro forma net income for the quarter includes adjustments, on an after tax basis, for: $1.4 million for income from equity method investments, $1.2 million for a maintenance reserve and $0.9 million for costs associated with Mesa's Chinese joint venture, Kunpeng Airlines.
Total available seat miles (ASMs) for the third quarter of FY09 decreased 10.8% from the third quarter of 2008, primarily due to a reduction in the number of aircraft flown from 161 as of 30 June 2008 to 142 as of 30 June 2009. At 30 June 2009 Mesa's operating fleet comprised 68 50-seat regional jets, 38 86-seat regional jets, 20 66-seat regional jets, and 16 37-seat turboprops. At that date, the company operated 48 RJs and six turboprops on a codeshare basis with US Airways, 46 RJs and 10 turboprops for United, 22 RJs for Delta, and had five operational spares. The company also flew five regional jets in Hawaii, operating as go!.
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