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), (NYSEAL)

 

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?