...With little prospect of future profitability we have reluctantly begun to liquidate those assets and operations

--And yet Go! continues to operate at a frightening loss, including being the impetus for the lawsuit? Great strategy, I mean mismanagement.

In November, a federal judge ordered Mesa to pay $80 million in damages to Hawaiian Airlines after ruling that Mesa's entry into the market there was based in part on misuse of confidential information. Mesa then ousted its chief financial officer, George "Peter" Murnane III, who the judge ruled "willfully" destroyed computer evidence...

--Who is now very happily working for the Kungpeng arm of the company in China. BTW, anyone can appeal any court ruling.

Airlines have had a tough time determining how to maintain profit margins amid higher fuel costs.

--Except that MAG passes those fuel costs on tot he code share partners.

Mesa's seat capacity for the fiscal fourth quarter fell 5.2%, as the company's aircraft flown decreased to 181 from 191 in the prior year. Load factor, or the percentage of available seats filled, increased two percentage points to 77.5%. The carrier's revenue per available seat mile, considered the best basic measure of revenue for airlines, was down 1.3%.

--I wonder how much of this has to do with attrition and training costs?