Mesa Air Group has entered into an aircraft purchase agreement with United Airlines for 18 Embraer E175 aircraft, which are owned by Mesa Airlines. The proceeds from the sale are expected to be $229.1 million.
A total of $142.4 million from the sale is being used to pay off associated debt, according to a regulatory filing.
Mesa completed the sale of eight of the 18 aircraft on December 31, 2024, yielding proceeds of $35.8 million. The sale of the remaining ten aircraft is expected to close on January 31, at the earliest.
The company also disclosed that on December 24, 2024, it entered into an agreement with a third party for the sale of 15 used Bombardier CRJ-900 airframes. Proceeds from the sale of the airframes is expected to be $19 million.
The company also noted that the $19 million will be used to pay down a loan with the US Treasury. This transaction is scheduled to take place in multiple closings between January and April 2025.