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Mesa Swings To 2Q Profit - $17.5mil  
User currently offlineLAXintl From United States of America, joined May 2000, 26150 posts, RR: 50
Posted (6 years 5 months 3 weeks 3 days 11 hours ago) and read 3334 times:

Interesting -- never seen a company report financials before the quarter is technically done!

Quote:
Mesa Air Group Reports Second Quarter 2008 Revenues and Earnings

PHOENIX, June 30 /PRNewswire-FirstCall/ (UPDATE) -- Mesa Air Group, Inc. today announced second quarter after tax profit of $17.5 million from continuing operations on operating revenues of $320.3 million. Total operating revenues for the second quarter of 2008 increased $24.0 million, or 8.1% from the same quarter in 2007.
The net income of $17.5 million, or $0.51 per diluted share, compares to a net loss from continuing operations of $22.6 million, or $0.71 per diluted share for the same period of fiscal 2007.

http://biz.yahoo.com/prnews/080630/lam038.html?.v=101


From the desert to the sea, to all of Southern California
26 replies: All unread, showing first 25:
 
User currently offlineBoston92 From United States of America, joined Aug 2006, 3390 posts, RR: 7
Reply 1, posted (6 years 5 months 3 weeks 3 days 11 hours ago) and read 3324 times:

I guess they were excited.


"Why does a slight tax increase cost you $200 and a substantial tax cut save you 30 cents?"
User currently offlineMasseyBrown From United States of America, joined Dec 2002, 5600 posts, RR: 7
Reply 2, posted (6 years 5 months 3 weeks 3 days 11 hours ago) and read 3298 times:



Quoting LAXintl (Thread starter):
Interesting -- never seen a company report financials before the quarter is technically done!

The quarter they are reporting was the one ending March 31, 2008. Their "year" ends on Sept 30. They were profitable only because they recouped the negotiated reduction in the Hawaiian payment.



I love long German words like 'Freundschaftsbezeigungen'.
User currently offlineBoston92 From United States of America, joined Aug 2006, 3390 posts, RR: 7
Reply 3, posted (6 years 5 months 3 weeks 3 days 11 hours ago) and read 3282 times:

Edit. Maybe I am wrong  Confused

[Edited 2008-06-30 08:57:36]


"Why does a slight tax increase cost you $200 and a substantial tax cut save you 30 cents?"
User currently offlineNorCal From United States of America, joined Mar 2005, 2459 posts, RR: 5
Reply 4, posted (6 years 5 months 3 weeks 3 days 11 hours ago) and read 3221 times:

Hopefully they'll do everyone a favor and file chapter 7 soon. Worst excuse of an airline there is.

User currently offlineERAUgrad02 From United States of America, joined Nov 2005, 1227 posts, RR: 0
Reply 5, posted (6 years 5 months 3 weeks 3 days 10 hours ago) and read 3099 times:



Quoting NorCal (Reply 4):
Hopefully they'll do everyone a favor and file chapter 7 soon. Worst excuse of an airline there is.

How hateful can you be? I may not like Mesa but I will not ever wish such a thing. Wishing that is the same as saying " i hope all the employees loose their job, they deserve it" come on bro. Have respect for the people there that work hard at Mesa to put food on their tables. Watch what you wish for. That was plain rude and ignorant at the least.



Desmond MacRae in ILM
User currently offlineSilentbob From United States of America, joined Aug 2006, 2176 posts, RR: 1
Reply 6, posted (6 years 5 months 3 weeks 3 days 8 hours ago) and read 2950 times:



Quoting ERAUgrad02 (Reply 5):
How hateful can you be? I may not like Mesa but I will not ever wish such a thing. Wishing that is the same as saying " i hope all the employees loose their job, they deserve it" come on bro. Have respect for the people there that work hard at Mesa to put food on their tables. Watch what you wish for. That was plain rude and ignorant at the least.

Most people have no ill will to the people who work for Mesa, though there are a few exceptions. The problem is what the company has done to the industry and there are very few people outside the company who want to see Mesa continue to survive. With best wishes to those who work for Mesa, the industry will be better once it goes under.


User currently offlineAWACSooner From United States of America, joined Jan 2008, 1979 posts, RR: 1
Reply 7, posted (6 years 5 months 3 weeks 3 days 8 hours ago) and read 2936 times:

Is it wrong to be both happy and disappointed by this news?

User currently offlineDispatchguy From United States of America, joined Jan 2006, 1253 posts, RR: 2
Reply 8, posted (6 years 5 months 3 weeks 3 days 8 hours ago) and read 2931 times:

I have no ill will for any member of the rank and file that work at Mesa; from the lowliest bag thrower at PHX, to the dispatchers, to the crewmembers. You gotta do what you gotta do...

Their management, specifically convicted felon Mr J.O., can go to hell. You wont find anyone in the US airline industry (except the Kool-aid drinkers at their PHX HQ) that feel any differently.



Nobody screws you better than an airline job!
User currently offlineLAXintl From United States of America, joined May 2000, 26150 posts, RR: 50
Reply 9, posted (6 years 5 months 3 weeks 3 days 7 hours ago) and read 2834 times:



Quoting Silentbob (Reply 6):
The problem is what the company has done to the industry

And what exactly has Mesa really done to this industry?

Mesa simply provides a ACMI lease solution to a host of airlines. They have done so successfully, and sans the 2003 Air Midwest CLT crash safely for nearly 30 years.

Is this similar to some folks are upset at Walmart? Just because Mesa has managed to create a lower cost mouse trap is not a reason to hate them. After all this is exactly what its partner carriers want.

And for those that like to vilify Jonathan Ornstein, look at the larger picture and consider how successful Mesa Air Group has been under his stewardship the last 12 years. Love or hate go!, and the events surrounding it, however this relatively recent development should not over shadow JO's success in building Mesa since the mid 90s.



From the desert to the sea, to all of Southern California
User currently offlineSHUPirate1 From United States of America, joined Sep 2003, 3670 posts, RR: 16
Reply 10, posted (6 years 5 months 3 weeks 3 days 7 hours ago) and read 2828 times:



Quoting ERAUgrad02 (Reply 5):

Quoting NorCal (Reply 4):
Hopefully they'll do everyone a favor and file chapter 7 soon. Worst excuse of an airline there is.

How hateful can you be? I may not like Mesa but I will not ever wish such a thing. Wishing that is the same as saying " i hope all the employees loose their job, they deserve it" come on bro. Have respect for the people there that work hard at Mesa to put food on their tables. Watch what you wish for. That was plain rude and ignorant at the least.

Here's what he really meant to say:

"Hopefully they'll do everone a favor and file chapter 7 soon, and every one of their non-executive employees will get new jobs at double their current pay. Worst excuse of an airline there is."



Burma's constitutional referendum options: A. Yes, B. Go to Insein Prison!
User currently offlineImapilotaz From , joined Dec 1969, posts, RR:
Reply 11, posted (6 years 5 months 3 weeks 3 days 7 hours ago) and read 2794 times:



Quoting ERAUgrad02 (Reply 5):
How hateful can you be? I may not like Mesa but I will not ever wish such a thing. Wishing that is the same as saying " i hope all the employees loose their job, they deserve it" come on bro. Have respect for the people there that work hard at Mesa to put food on their tables. Watch what you wish for. That was plain rude and ignorant at the least.

At least some people on here have some decency.

Quoting LAXintl (Reply 9):
And what exactly has Mesa really done to this industry?

Mesa simply provides a ACMI lease solution to a host of airlines. They have done so successfully, and sans the 2003 Air Midwest CLT crash safely for nearly 30 years.

Is this similar to some folks are upset at Walmart? Just because Mesa has managed to create a lower cost mouse trap is not a reason to hate them. After all this is exactly what its partner carriers want.

And for those that like to vilify Jonathan Ornstein, look at the larger picture and consider how successful Mesa Air Group has been under his stewardship the last 12 years. Love or hate go!, and the events surrounding it, however this relatively recent development should not over shadow JO's success in building Mesa since the mid 90s.

Wow, we've sometimes disagreed on this board before, but that was one of the best comments I've read on here. I agree 100% and welcome to my respected user list.

I worked for Mesa for 4 years, worked my way up to Director level before leaving, and I would consider myself extremely lucky to have worked for Mesa. I learned more in my 4 years at Mesa than I would have in 20 years at UA, DL, AA, etc. The lean environment forces you to learn more and do more with less, and I am eternally grateful for that. I have my disagreements with JO, but I reported directly to him and worked side by side with him for more than 1 year of my time at Mesa, something that virtually no one at the company can say. I spent time personally and professionally with him, and there is no one that is currently employed at Mesa (from ramper to pilot to VP) that does not owe everything to his vision.

Least you forget, Mesa was on the brink of disaster in 1998 after years of neglect by the previous administration (that JO had nothing to do with and was long gone at CO & Virgin Express) and brought them from 120+ 19-seat aircraft, cancellation of their UA contract, etc to one of the most consistently profitable airlines (outside of the last year).

Also keep in mind there are MANY 20 somethings that are Captains on the CRJ-900 making nearly $100,000 a year thanks to the growth and ingenuity of Mesa. Show me any other airline in the country where so many had that growth ability. Perhaps Mesa got too big for their own good. There's alot that you can look back on in hindsight, but in reality, JO and his current Administration had an amazing run for 9+ years before the wheels came.


User currently offlineImapilotaz From , joined Dec 1969, posts, RR:
Reply 12, posted (6 years 5 months 3 weeks 3 days 7 hours ago) and read 2778 times:



Quoting SHUPirate1 (Reply 10):
"Hopefully they'll do everone a favor and file chapter 7 soon, and every one of their non-executive employees will get new jobs at double their current pay. Worst excuse of an airline there is."

Name me one other regional that a 5 year senior pilot can make nearly $100K as a Captain on a CRJ900... There is none. Those employees dont get paid any worse than their counterparts at OO, Commutair, Colgan, Pinnacle, etc.


User currently offlineSafetyDemo From United States of America, joined Sep 2007, 310 posts, RR: 0
Reply 13, posted (6 years 5 months 3 weeks 3 days 6 hours ago) and read 2771 times:



Quoting Imapilotaz (Reply 12):
Name me one other regional that a 5 year senior pilot can make nearly $100K as a Captain on a CRJ900... There is none. Those employees dont get paid any worse than their counterparts at OO, Commutair, Colgan, Pinnacle, etc.

Try Republic Airways Holdings .... 86 seat ERJ-175.

-safetyDemo



Please direct your attention to the flight attendants in the cabin...
User currently offlineKELPkid From United States of America, joined Nov 2005, 6428 posts, RR: 3
Reply 14, posted (6 years 5 months 3 weeks 3 days 6 hours ago) and read 2765 times:

Quoting LAXintl (Thread starter):
Interesting -- never seen a company report financials before the quarter is technically done!

If your stock is so low it is facing a potential delisting by the NASDAQ, then you will do anything in your power to lift the stock price quickly  
EDIT: this early results release appears to have had limited effect, as the stock is now trading slightly up at 51 cents/share...

[Edited 2008-06-30 13:36:33]


Celebrating the birth of KELPkidJR on August 5, 2009 :-)
User currently offlineLoggat From United States of America, joined Feb 2000, 666 posts, RR: 0
Reply 15, posted (6 years 5 months 3 weeks 3 days 6 hours ago) and read 2734 times:

Quoting Imapilotaz (Reply 12):
Name me one other regional that a 5 year senior pilot can make nearly $100K as a Captain on a CRJ900... There is none. Those employees dont get paid any worse than their counterparts at OO, Commutair, Colgan, Pinnacle, etc.

That's BS. According to AirlinePilotCentral.com, 5th year CA pay on the CRJ900 is $69/hr. Correct me if i'm wrong, but if you upgrade after, say, 2 years as an FO, do you go to 3rd year CA pay or 1st year CA pay?

Either way, that's nowhere near 100k.

Republic may not be at the top, but for the same longevity and equipment size, the rate is $82/hr WITH block or better, which over the course of a year could make you an extra $10k in that position and longevity.

Mesa is definitely worse.

I feel sorry for anyone working for Mesa that doesn't know the grass is greener everywhere else.

[Edited 2008-06-30 13:41:29]

[Edited 2008-06-30 13:42:10]


There are 3 types of people in this world, those that can count, and those that can't.
User currently offlineNorCal From United States of America, joined Mar 2005, 2459 posts, RR: 5
Reply 16, posted (6 years 5 months 3 weeks 3 days 1 hour ago) and read 2557 times:



Quoting ERAUgrad02 (Reply 5):
How hateful can you be? I may not like Mesa but I will not ever wish such a thing. Wishing that is the same as saying " i hope all the employees loose their job, they deserve it" come on bro. Have respect for the people there that work hard at Mesa to put food on their tables. Watch what you wish for. That was plain rude and ignorant at the least.

I disapprove of their management, not the employees. As a pilot for another airline I do not want to see fellow pilots, or any other frontline employee go jobless. It doesn't really matter what I wish for anyways since the fate of that airline is up to their management.

Quoting SHUPirate1 (Reply 10):
"Hopefully they'll do everone a favor and file chapter 7 soon, and every one of their non-executive employees will get new jobs at double their current pay. Worst excuse of an airline there is."

 checkmark 


User currently offlineSilentbob From United States of America, joined Aug 2006, 2176 posts, RR: 1
Reply 17, posted (6 years 5 months 3 weeks 3 days 1 hour ago) and read 2529 times:



Quoting Imapilotaz (Reply 11):
Also keep in mind there are MANY 20 somethings that are Captains on the CRJ-900

And this is a good thing? Sorry, but I'm one of those people who believes that you should have more experience and maturity before getting that coveted left seat. Mesa isn't the only regional putting people in danger this way but it is a hallmark of theirs.


User currently offlineFlyPNS1 From United States of America, joined Nov 1999, 6731 posts, RR: 24
Reply 18, posted (6 years 5 months 3 weeks 2 days 14 hours ago) and read 2367 times:



Quoting Silentbob (Reply 6):
The problem is what the company has done to the industry and there are very few people outside the company who want to see Mesa continue to survive.

Instead of blaming Mesa, shouldn't you really be blaming the majors (UA, US, DL) who have chosen to do business with them. If these carriers didn't contract with Mesa, the company would cease to exist or at least be limited to only a small number of EAS markets.

Mesa has survived because many of the majors have been willing to sacrifice quality for cost.


User currently offlineMasseyBrown From United States of America, joined Dec 2002, 5600 posts, RR: 7
Reply 19, posted (6 years 5 months 3 weeks 2 days 14 hours ago) and read 2329 times:



Quoting KELPkid (Reply 14):
EDIT: this early results release

It's not an early release; in fact it's a late release. It should have been issued not later than May 15th.

Mesa uses a fiscal year that ends on September 30th; thus this "second quarter" report is for the period ending March 31st.



I love long German words like 'Freundschaftsbezeigungen'.
User currently offlineBriguy1974 From United States of America, joined Aug 2005, 133 posts, RR: 0
Reply 20, posted (6 years 5 months 3 weeks 2 days 9 hours ago) and read 2229 times:

I think the distaste about Mesa stems from there below market level bidding in contracts and its aggressive below market fare base in the Hawaii market that effectivly shut down Aloha. Mesa was out of line by starting the Hawaii sevice with such a lack of integrity. It stole the buisness plan from Hawaiian and Aloha and then priced an airline right out of the market. An airline with a great history and comittment to the Hawaiian people. Gone is Aloha and Hawaiians are now stuck with GO which is what??? An airline probably still losing money that might not be around next year....heck next month? So any Mesa employees.... you have to accept the decisions made by your management and the complaints that come with it.
And lets be clear. An airline in the industry as Mesa, Skywest, and Express Jet should not be losing money. If you are you are bidding poorly and and taking contracts away from companies that could probably provide a good service at a profit. So continue under bidding everyone maybe steal some more market secrets and than operate a bad quality of service and continue makiing all regionals look bad. And good luck to all of you.


User currently offlineApodino From United States of America, joined Apr 2005, 4317 posts, RR: 6
Reply 21, posted (6 years 5 months 3 weeks 2 days 9 hours ago) and read 2190 times:

I listened to the Call, and at the end one of the investors asked how much cash was on the Balance sheet and Johnny O refused to answer the question. That makes me a little suspicious of how well off they actually are.

User currently offlineSHUPirate1 From United States of America, joined Sep 2003, 3670 posts, RR: 16
Reply 22, posted (6 years 5 months 3 weeks 2 days ago) and read 2056 times:



Quoting Imapilotaz (Reply 12):

Quoting SHUPirate1 (Reply 10):
"Hopefully they'll do everone a favor and file chapter 7 soon, and every one of their non-executive employees will get new jobs at double their current pay. Worst excuse of an airline there is."

Name me one other regional that a 5 year senior pilot can make nearly $100K as a Captain on a CRJ900... There is none. Those employees dont get paid any worse than their counterparts at OO, Commutair, Colgan, Pinnacle, etc.

I wasn't stating my opinion. I was stating what NorCal presumably meant to say, namely that he wishes no ill will against the non-executive employees of Mesa, but that the flying experience would be much better if a small jet provider (thank you, Michael Boyd) other than Mesa were flying the contracts currently awarded to Ornstein's Sometimes-Flying Circus.



Burma's constitutional referendum options: A. Yes, B. Go to Insein Prison!
User currently offlineHa763 From United States of America, joined Jan 2003, 3671 posts, RR: 5
Reply 23, posted (6 years 5 months 3 weeks 1 day 22 hours ago) and read 1982 times:
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The $17.5 million is only what they made from their "continuing operations." Minus the Air Midwest costs, their net profit was only $9.4 million.

So, long will we have to wait for them to release their 3rd quarter financials?

Quoting Briguy1974 (Reply 20):
GO which is what??? An airline probably still losing money

Yep. go! lost $8.3 million during the second quarter. More than twice than the same quarter the previous year. Even with the rise in fares, they probably will still show a loss for the 3rd quarter.

http://www.honoluluadvertiser.com/ap...=/20080701/BUSINESS/807010326/1071


User currently offlineSuisjes From United States of America, joined Jan 2007, 70 posts, RR: 0
Reply 24, posted (6 years 5 months 3 weeks 1 day 21 hours ago) and read 1964 times:



Quoting Imapilotaz (Reply 12):

Second that, I worked for Mesa MX MCO Feb 06 Nov 06 there is a lot stuff I did'nt like but, I have worked at worse places I really could care less about Jo's previous career, when they thought they were going to close the base he made a special appearance which be honest, not people worked there. That's a lot more than what a little companies except it is a bigger group of people and much larger scale. So, whatever life is life get over yourselves and the industry for that matter.


25 KAUSpilot : $100,000 / yr for a mesa pilot? Now that's funny.
26 Silentbob : I do blame them as well, but UA and US have both indicated they will use a bankruptcy filing by Mesa to cut ties. I'm sure I'm not alone in hoping De
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