Mesa Air Group has completed the sales of six of the 15 surplus CRJ-900 airframes, and ten of the 30 surplus CRJ engines, associated with its regional aircraft securitization program (RASPRO) finance lease on June 6, 2024.
Mesa previously entered into agreements to sell the 15 airframes and 30 engines, respectively to two separate third parties.
“Addressing the RASPRO lease has been one of the top priorities for our surplus asset sale efforts over the past year and a half,” said Jonathan Ornstein, Mesa Chairman and CEO.
“This is a significant financial obligation that we are putting behind us, and we are increasingly able to prioritize the future of the company for our investors and people.”
Previously, the RASPRO finance lease carried a $50.4 million obligation for Mesa to purchase the assets at the end of the lease in March 2024. As disclosed with its first quarter fiscal 2024 earnings release, Mesa reached an agreement to fulfil the purchase obligation over the course of May 2024 to September 2024.
Mesa's purchase obligation has been reduced to $27.3 million as of May 31, 2024. The company stated that it anticipates fully eliminating this obligation ""in the coming months as it purchases the remaining assets from RASPRO and in turn executes their sales to the respective third parties under agreement"".
Mesa completes sale of six CRJs
