Mesa delays reporting financials...again
 

Are they deleting the porn again??? Don't imagine this is gonna lead to good news (for them anyway)...

http://starbulletin.com/2007/12/28/b...s/story01.html

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Mesa Air Group Inc., the operator of interisland carrier go!, has delayed the release of its fiscal fourth-quarter and full-year earnings for a second time as it continues reviewing "certain estimates and reserves."


The results probably will be released around Jan. 15, rather than today as most recently announced, the Phoenix-based company said.

Mesa, which said earlier this month that it expects a fiscal-year loss, also said the decision to sell Air Midwest as of Sept. 30 requires that the unit be counted as a discontinued operation.

"(That) has impacted our ability to finalize our financial statements in the time frame originally anticipated," Chairman and Chief Executive Jonathan Ornstein said.

Mesa is operating with an interim chief financial officer, William Hoke, after firing CFO Peter Murnane in November for his role in deleting evidence on his computers in connection to Hawaiian Airlines' federal lawsuit against Mesa.

On Oct. 30, federal Bankruptcy Judge Robert Faris ruled that Mesa had used confidential information obtained as a potential investor during Hawaiian's bankruptcy to gain an unfair competitive advantage in entering the Hawaii market in June 2006. Faris awarded Hawaiian $80 million in damages, plus interest and attorney fees.
Mesa, which is appealing the decision to U.S. District Court, was ordered to put up a $90 million bond in the meantime. Earlier this month, Mesa's motion for a new trial, in which it cited discovery of "new evidence" and alleged errors by the court, was denied by Faris.

There was an article in The Arizona Republic today that says Mesa's stock dipped on Friday after they delayed their earnings release. The shares reached a 52-week low.

Coincidence that their shares dipped the day I resigned? I don't think so.

NIIIIIICE!!! :D

Financial trouble? I thought Mesa was simply the best!?

I wonder if their condition and deteriorating situation could actually put some of their flying at risk. E.G. the United flying.

I wonder of some companies (ZW....) are salivating at the chance of getting a piece of that pie if Mesa were to start to crumble.

BTW, for the insiders, are they really having a hard time staffing the airplanes? Are new pilots still getting hired? Why would someone go there since all the other (better) regionals are hiring?

Not the beat the dead horse, but this situation makes me wonder a bit. What does United think? Or US Airways?

The month my buddy left they lost 75 pilots....... and something tells me alot of those were lateral moves.

Curious how United would shell out Mesa flying...? Obviously no single Carrier could operate more than just a small portion with staffing low and aircraft availability so low?

I suspect SKW and RAH would get their share, UAL might even let AWAC get in on the party :). In the end however its all just speculation until and if anything ever does happen.

Considering the staffing problems at all of the regionals right now, who would be able to cover our United flying if MAG tanked? It would be a tall order to fill on the spot; perhaps a slow transition? (I don't know who ZW is...)

Hard time staffing at MAG??? Vacations have been canceled since Oct 07 through Mar 08 and will probably be CX again after that... this should give you an idea of our ability to staff. As far as retaining pilots, we will have lost in the ballpark of 1000 this year, more than half of whom are FO's. 1000 pilots, dude. That's more than 50% of our seniority list!!! We are somehow still getting new-hire "pilots" if you can consider a person who needs 20 sims and 100-200 hours of IOE a pilot. I view that kind of candidate as a "warm-body". How are we getting these folks? Empty promises of a quick upgrade... that's the big carrot. The problem with that is to date nearly 250 pilots have been effected by illegal hold-backs, where a junior person has been awarded jet CA out of sequence. The upgrade time at MAG is about 3 years right now. How are they getting people? Ignorance? Abduction? Imports? Dunno dude...

ZW is Air Wisconsin. So far they have been able to keep up with attrition. Barely. We'll see how it continues in the coming months. I think the staffing problems will hit us as well.