Mesa Air Group reports fourth quarter 2007 net loss of $68 million

Mesa Air Group reported fourth quarter losses from continuing operations of $62.2 million on gross operating revenues of $327.8 million. This compares to earnings from continuing operations of $5.8 million in the fourth quarter of 2006 on gross operating revenues of $348.8 million. Net loss for the quarter was $68.2 million versus $4.8 million net income in the fourth quarter of fiscal 2006.

Total operating revenues decreased $21.0 million year-over-year, or 6.0%, primarily as a result of a year-over-year decrease in aircraft in service. The fourth quarter results include a pre-tax charge of $86.9 million related to the recognition of a legal judgment against the Company in its Hawaiian Airlines litigation which is under appeal. The loss from discontinued operations during the quarter totaling $6.0 million, related to the previously announced sale of Air Midwest subsidiary or certain assets of such operation.

Email Post to a Friend Email Post to a Friend

Leave a Reply