How long until Mesa closes its doors?
 

Just a rumor I heard....

i dont see it happening. however i do see them getting rid of some planes

Mesa's stock just jumped up 45% to $0.96 from about $0.53 two days ago. How the heck did that happen? Falling oil prices?

Hawaiian settled with them for $54 million instead of $90 million that would have taken a while in appeals court. Remember, Aloha is suing too, so I would expect at least a similar judgment there. Stocks this low swing on news like this.

I think their next biggest issues are Delta and de-listing.

If the stock goes up another 4 cents the de-listing problem is eliminated.

That's been floating around for months now, don't think its going to happen. Got enough cash from the HI settlement to pay off our debt in June. Stock is up. If we get some $ out of the delta lawsuit, or have the flying re-instated we'll be right back where we were 3 months ago. Not a stong airline, but we'll make it.

Too bad that lawsuit doesnt exist...

Actually it does. I reported that it didn't on a previous thread, but have since been informed that it has been filied.

From Holly's Plane Buzz Banter:
In last week's PlaneBusiness Banter I mentioned that the lawsuit Mesa Air Group said had been filed against Delta Air Lines in regard to Delta's canceling Mesa's Freedom Air contract flying had not been able to be found on the PACER system. (A public database of bankruptcy and Federal District courts in the U.S.)

That is no longer the case.

I suspect that because there was an initial motion entitled "Motion to Seal Case" this was the reason the case was not immediately available in the database. However, the judge agreed only to seal the complaint in the case -- not the entire case.

So the case is there now.

Unfortunately because the complaint itself was sealed, we can't read any of the nitty gritty details. Not surprising, as the complaint no doubt contains a great deal of Delta-Freedom contract information that competitors would love to read. (Yes, we've already had folks from three airlines ask us if we have copies of the complaint.)

According to the PACER documentation, Mesa Air Group and Freedom Air did file this week for a preliminary injunction against Delta Air Lines -- but the hearing on that request has not been scheduled until the end of May. May 27-29 to be exact.

Clarence E. Cooper, United States District Court Judge is presiding over the case in U.S. District Court for the Northern District of Georgia.
Ticker: (Nasdaq:MESA), (NYSE:DAL)

Being a former Mesa rat I have followed this from time to time. Help me understand something. Hawaiian had a suit based on Mesa using information obtained illegally to compete against HI. I can see HI winning that one. What is the crux of the case that Aloha has? All I have heard is that they are complaining that Mesa used predatory pricing?

I thought Aloha had the same argument of insider info?

I may be wrong, but that was the impression i always got (along with pred. pricing)

You gotta love it when a regional airline pilot is explaining legal matter circumstances and to top it off their source is Holly's plane buz bantor. LOL

So you eat a large portion of your cash on hand to pay off those pesky bonds coming due in a few months, your getting rid of some airframes, a paper tiger Delta lawsuit that IF it ever comes down to a monetary judgement will be long after Mesa is gone, Aloha suit on the horizon, airport user fees still not paid........most healthy airlines don't skirt their user fees like Mesa does to the last possible second.
My guess, Mesa is gone by summer's end or is in a completely different form by then.
As an ex-Mesa slave I have ZERO ill will towards the drivers there. Great group of people and I hope they all end up better off in the end. I hope JO ends up in a northern Chinese prison.

No. Aloa is going with the preditory pricing issue, which is very hard to prove. It would be better for them to let it go rather than use up financial resources in litigation.

I need to see Mesa's 1st quarter numbers as well as cash on hand in order to make that prediction. I don't see Mesa flying in 2009. JMHO.

They'll never die...

You know if JO pulls this out Lord only knows where he'll end up and the damage that will be caused down the road.

I was pretty optimistic for a while there, but I didn't see HA letting them off the hook for $40M at exactly the wrong moment. That's the problem with JO, he's a cockroach and thus hard to kill.

Looks like Mesa's stock will close above $1 today so the clock starts over. Now their 52 week range is 7.25-0.44. Today's close will be around 1.14.

Yea, these things seem to keep limping along... like some bum with his face all bloodied up, missing a few teeth, unshowered with smelly cloths and a fist full of dirty one-dollar bills. Yea, MAG will keep limping along.
:confused::rolleyes::o

The stock being above $1 does not mean they will not file for BK.

Geez you guys still going on about this?:eek:

But it is significant...

JO has announced his intent to issue more stock to raise needed cash.

If it stays below $1, the stock will eventually get delisted from the NASDAQ. If delisted, it becomes MUCH harder to sell or issue stock because you essentially have to find another exchange (not likely) or sell stock to venture capitalists. VC's are NOT likely to be loose with their money in the current environment.

Sooo...if JO might not be able to raise more cash, his company could be in jeporady...which makes the stock even less desireable.

Even hanging out slightly above $1 isn't good...many exchange stock purchases are probably speculative, and if you buy a stock that subsequently get's delisted, how do you sell it quickly if needed? This whole thing is a complex feedback loop...every aspect affects every other aspect, msotly in a bad way. The only cure is to be well above $1 or get some significant good business news.

When does Mesa release their 1st quarter numbers?
I have been checking everyday...

Who knows? Dec 2009? They don't have a track of record of timeliness on those...

I thought they were short on pilots? How are they operating?

Correct me if I'm wrong, but now that the stock is over $1 and climbing, doesn't this re-set the NASDAQ delisting process? Everything I could find on the internet suggested that.

Basically everything I read said that if a stock remains under $1 for a set period of time it faces delisting. Now it's officially closed over $1.

Jetblue's not hiring, Skywest and Republic have slowed down hiring.

They need extra time to doctor the numbers. Time to make that plate of crap smell like roses.

Just a few problems with that logic:

1. Millions of dollars in debentures payable in June.
2. Pending lawsuit from Aloha.
3. Major problems with Delta, possible code share loss, spelling out the possible end to Freedom.
4. JO unable to unload unprofitable CRJ 200's on the Chinese.
5. 55 million due out to last law suit.
6. No one to unload the ERJ 145's that were based in JFK.
7. Fuel and market instability risk, in combination with all of the above, combined with high pilot attrition rate.

What do you think is going to happen?

Their successor has been chosen: http://money.cnn.com/news/newsfeeds/...3-24328591.htm

JO will go bankrupt at the best possible time to screw creditors and employees, not necessarily in that order.

April 7, really?

(It's May now)

I’m not a financial guru, but I’m not sure how this article form April has anything to do with the subject at had. It has to do with MESA not being on the S&P 600. Please explain if you have an explanation.

:confused:

Didn't think I had to be that basic, the stock is already being removed from standings, in preparation for their delisting.

As for the statement on JO, just think of the nastiest possible action towards employees, and there ya go.

We'll keep stumbing along, just like we always do.

Mesa is a cockroach that will never go away. Bankruptcy....allows them to unload the ERJ's and temporarily take care of their pilot shortage, it also allows Mesa to go to a one type fleet of CRJ's that will lower training and Mx costs.

If Fuel spikes up again unexpectedly, and another code share affiliate decides to dump Mesa unexpectedly like Delta had prudently decided wisely,

then the whole infestation might finally actually come to a fitting end.

"We'll keep stumbing along, just like we always do."

With all due respect sir,


Stumble on this!!!

http://showmenews.com/2008/May/20080507News006.asp

....Mesa has been planning and trying to shut down Air Midwest for years (since about 2002). On the books Air Middie has been a money loser a long time, and it will lower Mesa's costs once again.

i saw over on Flight Info J.O. has his house up for sale. I wonder if your at make a Messa, should you be concerned.