MESA - Mesa Air skies on new contract with American Airlines

Mesa Air (MESA) +25.8% after-hours on news it finalized a new contract replacing its previous agreement with American Airlines, to operate 40 CRJ-900s for a five-year term through year-end 2025.Under the previous contract, 30 of the aircraft were set to expire in 2021 with another 17 expiring in 2022.Mesa CEO Jonathan Ornstein says the new contract will position the company for long-term stability and improved performance on its American operation.Mesa remained profitable throughout the COVID crisis and its stock price was unfairly punished, Dmitriy Kozin wrote in a bullish analysis published last month on Seeking Alpha; shares have roughly doubled since early October.

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Mesa Air skies on new contract with American Airlines