Mesa shows loss for the first quarter

Mesa Air Group disclosed a first quarter 2024 net loss of $57.9 million compared to a net loss of $9.1 million for the prior-year quarter. Mesa’s Q1 2024 adjusted net loss was $21.8 million, versus an adjusted net loss of $4.3 million, in Q1 2023. Total operating expenses in Q1 2024 were $167.2 million, an increase of $22.5 million, or 15.6%, versus Q1 2023, primarily reflecting $40.4 million of asset impairment losses related to assets held for sale. Excluding asset impairment losses, operating expenses were $126.8 million, compared to $141.0 million in Q1 2023. For Q1 2024, approximately 96% of