Quote: DALLAS --- Mesa Air Group Inc., the parent company of interisland carrier go!, is in talks with five potential customers for $100 million worth of spare parts it may sell to raise cash, according to a report from Bloomberg News Service.
"Liquidity levels could become a concern if cash levels drop much further," Standard & Poor's analyst James Corridore said in a note to investors today. "We believe Mesa is likely to continue to lose money in Hawai'i, a small operation which has become a large drain on resources."
Sounds like things haven't been going very well at Mesa lately. In January go! posted its lowest monthly passenger count, its lowest available seats (reduced schedule) and one of its lowest load factors (58%). Coupled with the HA judgment and impending trial with Aloha, the picture looks rather bleak.
-Aloha!
Aloha Airlines - The Spirit Moves Us. Gone but NEVER Forgotten. Aloha, A Hui Hou!
CBPhoto From United States of America, joined Dec 2003, 1508 posts, RR: 6 Reply 1, posted (5 years 3 months 1 week 4 days 2 hours ago) and read 1315 times:
They could stop paying JO the millions he does not deserve, that might save them a few , but nah...why kill the only thing killing Mesa?
Bahadir From United States of America, joined Oct 2001, 1727 posts, RR: 12 Reply 2, posted (5 years 3 months 1 week 4 days 2 hours ago) and read 1304 times:
What ? They have spare parts? I guess we should expect more of those MELs
MasseyBrown From United States of America, joined Dec 2002, 4727 posts, RR: 7 Reply 3, posted (5 years 3 months 1 week 4 days 2 hours ago) and read 1285 times:
Quoting Bahadir (Reply 2): What ? They have spare parts?
If I were running the company that will be their supplier, I'd ask for cash payment.
FlyASAGuy2005 From United States of America, joined Sep 2007, 6520 posts, RR: 11 Reply 4, posted (5 years 3 months 1 week 4 days 1 hour ago) and read 1228 times:
I say axe go! It appears to have been a mistake and is draining Mesa. Then go ahead and keep the more profitable contract flying that they have, and continue to bid for more CR9 flying.
But this all sounds too easy huh? It is actually too simple. Let's see how things pan out for them FY08
CAM2:"Lightning coming out of that one." CAM1: "What?"
VictorKilo From United States of America, joined Jul 2006, 298 posts, RR: 0 Reply 5, posted (5 years 3 months 1 week 3 days 15 hours ago) and read 1050 times:
If these are spare parts for airplanes that are making their way out of the Mesa fleet, the Air Midwest B1900's, then it is a good business decision. If not, then I fear that Mesa will not be able to provide enough operational planes for its mainline partners, which will help hasten its demise.
Aloha73G From United States of America, joined Jul 2003, 2304 posts, RR: 5 Reply 7, posted (5 years 3 months 1 week 3 days 14 hours ago) and read 980 times:
Quote: Higher fuel and maintenance costs helped triple losses at go! airline during the last three months of 2007.
In a 30-page filing with the Securities and Exchange Commission yesterday, Mesa Air Group said its go! subsidiary had an operating loss of $6.6 million in that quarter, up from a $1.9 million loss in the same period a year earlier.
Since its June 2006 launch, go! has lost more than $26 million in Hawai'i.
$26 million lost on 4 to 5 CRJs. Yikes!!
-Aloha!
Aloha Airlines - The Spirit Moves Us. Gone but NEVER Forgotten. Aloha, A Hui Hou!
FlyASAGuy2005 From United States of America, joined Sep 2007, 6520 posts, RR: 11 Reply 8, posted (5 years 3 months 1 week 3 days 14 hours ago) and read 976 times:
I think in the end that will happen. At this point honestly, it isn't a fight for Hawaii, it's a fight to keep Mesa Air Group from going under. Note I didn't say chapter 11, they are heading down the road of Independence it seems...
CAM2:"Lightning coming out of that one." CAM1: "What?"
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