UAL - Why Mesa Air Group Stock Is Soaring | Benzinga
Mesa Air Group, Inc. (NASDAQ:MESA) shares are trading higher Friday after the company announced agreements with United Airlines Holdings, Inc. (NASDAQ:UAL) to amend its capacity purchase agreement and certain credit agreements between the companies.
The Details:
Mesa stated that the company entered into an agreement with United that increases the block-hour rate under its CPA, covering the period from Oct. 1, 2023 to Dec. 31, 2024. Mesa expects this increase will provide approximately $63.5 million in incremental revenue over the next twelve months and bolster liquidity.
The company also announced that United agreed to reduce the outstanding balance on the revolving ...