Has anyone read the 10-K yet?
The agreement with United was finalized and is included as an exhibit. United will now own 10% of Mesa and have one member on Mesa's board. United will incur all the expense in converting 38 CRJ-900s for its use. Mesa cannot enter into any agreement with any other airline (except its current DHL agreement). Also Mesa now has a revolving credit facility with United, so United is both a shareholder and creditor of Mesa. So Mesa is now for practical purposes wholly tied to United. Interesting stuff. I guess the investors are generally feeling positive about this as the stock is now trading at $1.55 per share versus a low of $1.06 last week.