Mesa Announces Action to Balance Pilot Supply
02 Juillet 2024 - 11:20PM
Mesa Air Group, Inc. (NASDAQ: MESA) (“Mesa” or the
“Company”) today announced the furlough of 12 pilots and training
deferrals for 41 pilot trainees, effective July 12, 2024. These
actions are the result of significantly reduced attrition among
Mesa’s active pilot workforce. The Company currently anticipates
this will save approximately $750,000 per month in operating
expenses.
“Over the last two years, attrition at Mesa often exceeded 25
pilots per month due to the pilot shortage created by the FAA’s
implementation of the ‘1,500-hour rule’,” said Jonathan Ornstein,
Mesa Chairman and CEO. “As a result, we undertook significant
efforts to increase our pilot hiring, including our Mesa Pilot
Development (MPD) program. However, attrition has fallen more
precipitously than expected at Mesa in the past few months, in part
due to the slowdown or cessation of hiring across most airlines. In
addition, we believe the industry-wide pipeline will continue to
improve as pilots previously denied the opportunity to fly
commercially due to the lack of 1,500 hours finally achieve
requisite flight time.
“While we deeply regret these actions, we expect reduced
attrition and a more stable pilot force will enable us to increase
our Embraer-175 block hours with United,” continued Ornstein.
“Based on our current outlook, we anticipate starting to recall
pilots by the end of the year. Additionally, once our pilot
pipeline has recalibrated, we will resume hiring pilot trainees
based on anticipated attrition levels.”
About Mesa Air Group, Inc.
Headquartered in Phoenix, Arizona, Mesa Air Group, Inc. is the
holding company of Mesa Airlines, a regional air carrier providing
scheduled passenger service to 73 cities in 32 states, the District
of Columbia, Cuba, and Mexico. As of June 30, 2024, Mesa operated a
fleet of 73 aircraft, with approximately 279 daily departures. The
Company had approximately 2,000 employees. Mesa operates all its
flights as United Express pursuant to the terms of a capacity
purchase agreement entered into with United Airlines, Inc.
Forward-Looking Statements
This press release includes information that constitutes
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Words such as
“anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”,
“believe”, “may”, “might”, “will”, “should”, “can have”, “likely”
and similar expressions are used to identify forward-looking
statements. These forward-looking statements are based on the
Company’s current beliefs, assumptions, and expectations regarding
future events, which in turn are based on information currently
available to the Company. By their nature, forward-looking
statements address matters that are subject to risks and
uncertainties. A variety of factors could cause actual events and
results to differ materially from those expressed in or
contemplated by the forward-looking statements. For additional
information about factors that could cause actual results to differ
materially from those described in the forward-looking statements,
please refer to the Company’s filings with the SEC, including the
risk factors contained in its most recent Annual Report on Form
10-K and the Company’s other subsequent filings with the SEC. The
Company undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise, except to the extent required by
applicable laws.
Contact:Mesa Air Group,
Inc.Mediamedia@mesa-air.comInvestor
Relationsinvestor.relations@mesa-air.com
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