This was going to happen with the pilot shortage in another year or so. The passenger shortage from COVID came sooner.

CPA flying ALWAYS has a profit margin built in for the contract carrier. Envoy, PSA and PDT do not need to have that 8-10% extra cost. It may be a little lower or higher these days, I'm a bit out of the loop on the CPA contract stuff. The lowest I've heard it being was 6% back around 2009.

I'd say 6% of the $93 million Envoy generated in profits during bad years is a sizable sum that is better in AAG coffers than Mesa's.