MESA - Mesa Air Group crashes down after unexpected loss

Mesa Air Group (NASDAQ:MESA) shares plummet after the company reports an unexpected adjusted net loss and reports a 13% revenue surprise to the downside. An adjusted net loss of $2.1M (net income of $11.4M in Q4 2020) was primarily due to an increase of $9M in heavy airframe maintenance expense, $3M in maintenance parts and $2M in increased pilot training expenses. CEO Jonathan Ornstein: "The rapid contraction and expansion of demand has been taxing for the industry and 2021 has proven to be a difficult year as a result. Due to the timing of regular and deferred maintenance events, the supply of labor, and fluctuating prices in the supply chain, exiting Covid is proving to be more challenging than entering it. While we fared better than most majors and regionals, we were not immune to these challenges and we are expecting these issues that are currently impacting our costs to

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Mesa Air Group crashes down after unexpected loss