Mesa files ch11 bankruptcy

[pdub20s]

PHOENIX, AZ—January 5, 2010—MESA AIR GROUP, INC. (the “Company”), (Nasdaq: MESA), today announced that it has commenced a financial restructuring through the voluntary filing of petitions to reorganize under Chapter 11 of the U.S Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York (the “Court”). During the restructuring, the Company will continue to operate as normal, without interruption, which includes its code-share agreements with its partners US Airways, United Airlines and Delta Air Lines. Mesa’s go!-Mokulele joint venture, an independent Hawaiian inter-island operation, is not included in the filing, will continue to operate its full flight schedule


Today, we announced that we have filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy code. Unfortunately after working much of the last year on restructuring “out of court” we were unable to gain all of the necessary agreements to avoid this more structured “in court” reorganization. During the restructuring, the Company will continue to operate as normal, without interruption, which includes its code-share agreements with its partners U.S. Airways, United Airlines and Delta Air Lines. The Company’s go! Mokulele joint venture is not included in the filing and will continue to operate outside of Chapter 11.

 

[35off]

I am first

Can't believe I get to be first. Wait for it, wait for it......Mesa Sucks!

 

[dispatchguy]

Couldnt have happened to a nicer a$$hole...

 

[bigshooter107]

Mesa sux

 

[Brazilgun]

The stars are aligning...........
Sad for the crews................

 

[wlacy]

Mesa sucks !!!!!1111

 

[Farfugnügen]

It was a long time coming... sorry for the crews though.

 

[maxblast72]

Now through the bankruptcy process, Mesa will reduce their operating costs making them an even cheaper competitor in the future. That is not good for the rest of the regionals in the industry. USAirway's bankruptcy filing post 9/11 and cost restructuring was basically the first domino that fell requiring all major airlines to take concessions over the next 5 years after their filing.

Unless Mesa does a Ch 7 liquidation, this is not good news for anyone in the regional industry. From the article, it doesn't sound like this is going to a Ch 7.

 

[contrail67]

Now through the bankruptcy process, Mesa will reduce their operating costs making them an even cheaper competitor in the future. That is not good for the rest of the regionals in the industry. USAirway's bankruptcy filing post 9/11 and cost restructuring was basically the first domino that fell requiring all major airlines to take concessions over the next 5 years after their filing.

Unless Mesa does a Ch 7 liquidation, this is not good news for anyone in the regional industry. From the article, it doesn't sound like this is going to a Ch 7.

they might want to get a contract with an airline to help them make money....they are done.

 

[BHopper88]

That is if the courts even let them, they I remember right they could be forced into chp 7.