For the second quarter, Mesa Air Group (MESA, Financial) reported revenue of $94.75 million, showing a decline from the $131.58 million recorded during the same period last year. Despite the drop in revenue, the company achieved its sixth consecutive quarter of positive EBITDA and EBITDAR, alongside its third successive quarter of increased block-hour-per-day utilization. This metric is anticipated to reach 9.8 in the upcoming quarter.
The company also marked a significant transition in its fleet operations. In February, Mesa completed its final flight with the CRJ-900 aircraft, ending a long-running era that began with Mesa being the global launch customer for this model in 2003. Currently, Mesa's fleet for United Airlines is comprised solely of 60 E-175 aircraft. This consolidation, together with Republic Airways' fleet, is set to establish one of the leading Embraer operator networks worldwide.
