Company Quick10K Filing
Mesa Air
10-Q 2020-03-31 Filed 2020-05-11
10-Q 2019-12-31 Filed 2020-02-10
10-K 2019-09-30 Filed 2019-12-17
10-Q 2019-06-30 Filed 2019-08-14
10-Q 2019-03-31 Filed 2019-05-15
10-Q 2018-12-31 Filed 2019-02-13
10-K 2018-09-30 Filed 2018-12-20
S-1 2018-07-13 Public Filing
10-Q 2018-06-30 Filed 2018-09-05
8-K 2020-05-11 Earnings, Exhibits
8-K 2020-05-05 Officers
8-K 2020-04-20 Other Events, Exhibits
8-K 2020-04-03 Other Events
8-K 2020-03-26 Enter Agreement, Exhibits
8-K 2020-03-18 Regulation FD
8-K 2020-02-10 Earnings, Exhibits
8-K 2020-02-04 Shareholder Vote
8-K 2019-12-26 Accountant, Exhibits
8-K 2019-12-13 Enter Agreement, Officers
8-K 2019-12-11 Earnings, Exhibits
8-K 2019-11-26 Enter Agreement, Exhibits
8-K 2019-09-30 Enter Agreement
8-K 2019-08-09 Earnings, Exhibits
8-K 2019-05-10 Earnings, Exhibits
8-K 2019-04-09 Shareholder Vote, Other Events
8-K 2019-02-04 Earnings, Exhibits
8-K 2019-01-28 Enter Agreement
8-K 2018-12-03 Earnings, Exhibits
8-K 2018-09-11 Other Events, Exhibits
8-K 2018-08-27 Earnings, Exhibits
8-K 2018-08-08 Enter Agreement, Amend Bylaw, Other Events, Exhibits

Mesa Air Financials

MESA Metrics, Comps, Filings

Quarterly | Annual

Business

Mesa Airlines is a regional air carrier providing scheduled passenger service to 125 cities in 39 states, the District of Columbia, Canada, Mexico and Cuba. All of our flights are operated as either American Eagle or United Express flights pursuant to the terms of capacity purchase agreements we entered into with American Airlines, Inc. ("American") and United Airlines, Inc. ("United") (each, our "major airline partner"). We have a significant presence in several of our major airline partners' key domestic hubs and focus cities, including Dallas, Houston, Phoenix and Washington-Dulles.

As of September 30, 2019, we operated a fleet of 145 aircraft with approximately 730 daily departures. We operate 62 CRJ-900 aircraft under our capacity purchase agreement with American (our "American Capacity Purchase Agreement") and 20 CRJ-700 and 60 E-175 aircraft under our capacity purchase agreement with United (our "United Capacity Purchase Agreement"). For our fiscal year ended September 30, 2019, approximately 44% of our aircraft in scheduled service were operated for American and approximately 56% were operated for United. All of our operating revenue in our 2019, 2018 and 2017 fiscal years was derived from operations associated with our American and United Capacity Purchase Agreements.

Our capacity purchase agreements provide us guaranteed monthly revenue for each aircraft under contract, a fixed fee for each block hour and flight actually flown, and reimbursement of certain direct operating expenses in exchange for providing regional flying on behalf of our major airline partners. Our capacity purchase agreements also shelter us, to an extent, from many of the elements that cause volatility in airline financial performance, including fuel prices, variations in ticket prices, and fluctuations in number of passengers. In providing regional flying under our capacity purchase agreements, we use the logos, service marks, flight crew uniforms and aircraft paint schemes of our major airline partners. Our major airline partners control route selection, pricing, seat inventories, marketing and scheduling, and provide us with ground support services, airport landing slots and gate access.


Valuation ($BB)

Market Cap, Enterprise Value

Balance Sheet ($BB)

Assets, Equity

Income Statement ($BB Quarterly)

Revenue, G Profit, Net Income

Cash Flow ($BB Quarterly)

Ops, Inv, Fin

Comps ($MM TTM) Market Cap Gross Margin EV/EBITDA Ret on Assets Assets Liabilities Revenue G Profit Net Income EBITDA EV
Azul (AZUL) 25,351 46% 28.4 -3% 2,948 2,157 8,149 3,714 -81 889 25,239
United Continental (UAL) 21,683 58% 4.8 6% 52,611 41,080 43,259 25,181 3,010 6,935 33,548
American Airlines Group (AAL) 12,819 55% 6.1 3% 59,995 60,113 45,768 24,980 1,686 5,331 32,691
Alaska Air Group (ALK) 8,498 59% 5.6 6% 12,993 8,662 8,781 5,152 769 1,517 8,482
Jetblue Airways (JBLU) 5,642 62% 4.9 5% 11,918 7,119 8,093 5,054 569 1,372 6,681
Skywest (SKYW) 2,946 13% 12.5 0% 6,598 4,481 3,032 387 0 451 5,647
Life Time Fitness (LTM) 2,775 9% 11.8 4% 2,729 1,599 1,310 124 111 333 3,942
Spirit Airlines (SAVE) 2,489 0% 6.4 5% 6,575 4,395 3,724 0 346 585 3,757
Allegiant Travel (ALGT) 2,391 0% 8.8 6% 2,834 2,008 1,380 0 172 398 3,496
Air Transport Services (ATSG) 1,508 0% 8.3 4% 2,745 2,264 1,330 0 101 350 2,913
Hawaiian Holdings (HA) 1,251 71% 4.1 4% 4,065 2,998 2,822 2,004 174 356 1,444
Mesa Air (MESA) 241 0% 5.3 3% 1,452 1,026 723 0 48 197 1,051
Air T (AIRT) 42 0% 3.6 7% 143 109 246 0 10 25 91
EHang Holdings (EH)
China Southern Airlines (ZNH) 0% 246,949 168,480 0 0 0 0 -6,909
China Eastern Airlines (CEA) 0% 239,017 177,416 0 0 0 0 -0
Copa Holdings (CPA) 0% 4,087 2,247 0 0 0 0 -0
Volaris (VLRS) 0% 22,311 13,139 0 0 0 0 -0
Ryanair Holdings (RYAAY) 0% 13,251 8,036 0 0 0 0 -35
Avianca Holdings (AVH) 0% 7,119 6,126 0 0 0 0 -265

Balance Sheet ($MM)2018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash4210392818473
Accounts Receivable
Inventory
PP&E1,4841,5111,5251,5321,5871,592
Assets1,3901,4721,4441,4251,4661,452
Accounts Payable455440413450
Long-Term Debt994930892865917883
Liabilities1,1571,0981,0491,0161,0531,026
Stockholders' Equity233374395409413426
Income Statement ($MM)2018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Revenue172178178177180188
Cost of Revenue
Gross Profit
R&D
SG&A221012131212
Tax-376415
Net Income-11191913312
Cash Flow ($MM)2018-06-302018-09-302018-12-312019-03-312019-06-302019-09-30
Cash Operating5644264438
Cash Investing-37-202-78-9
Cash Financing43-39-3835-40