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MESA AIR GR INC # Message Board

  • rudeawake1965 rudeawake1965 Feb 20, 2009 12:31 PM Flag

    1st qtr financials

    made for some interesting reading.

    $8.1 million of the income was due to gain on extinguishment of debt.

    Maintenance expense was down $23 million qtr over qtr (2.8 casm vs. 3.4 casm 1st qtr ly), strictly due to canceling the power by the hour agreements - the maintenance holiday will end very soon

    Mesa's equity investment in some mysterious, unidentifed "airline company" went up $5 million, to $15 million. Most of this was due to converting interest owed Mesa to equity - they couldn't pay the bill. This fuzzy math will undoubtedly lead to writing off the full $15 million some time in the not-to-distant future.

    On the cash side, over the past few years Mesa has wasted 113.7 million buying 29.4 million shares of its stock back - its hard to really quantify the ineptitude of Mesa's management and the Board of Directors. They also invested some amount in a "payment processing related business" (wtf?) that was completely written off (can you smell fraud?)

    there is a one line statement in the 10Q that indicates Mesa will have to pay $28.6 million to the Chinese joint venture before May (again, wtf? and goodbye cash)

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    • Wow...great insight! The majors use Mesa as a feeder! Let me go out and load up. Do you know anything about the airline industry or this company?

    • I don't own any MESA stock, but I just got back from CA and flew one leg on MESA. My impression is that both US Air and United use Mesa as a feeder, and will not abandon it, because the roads are such a zoo that people are much happier avoiding LAX and flying MESA. If ever there was a stock that needs a reverse split, say 1 for 10, this is it. It's just plain stupid to have 100 million shares outstanding of a nickel stock.

    • BTW, as I have said before Mesa stock is already trading at chapter 11 bankruptcy prices.

    • Good ways of refinacing the comapany debts compare with CHTR
      is going to wipe out all common shares when they dealed with
      creditors.

    • Why the senior notes creditors accept small amount of cash and good quantity of common shares offer if their shares has no future and not worth ?? Insider bought 50000 shares on 2-25-2009 and Goldman Sachs bought back 535990 shares @0.05 on 2-13-2009 ? Are they wasting their money ?
      Any comments

    • What happened to Kristen Brookshire?

    • very true

    • I was going to put you on ignore, but why deprive myself of enjoying your stupidity? To mention Mesa and Southwest in the same sentence shows both your foolishness and your desperation.

      Enjoy your long position over the weekend! lol

    • Turning the corner? I'll tell you what, most of those "bashers" have been on this board from a year ago. Back when this stock was in the dollars. Think again who's losing and making money. Now you, coming in as a penny stock gambler, have probably not followed this stock very long. Probably see it as a penny stock after it's highs. Take a look at that perfect downward chart. I can tell, you, like a lot of people here, aren't long term investors of this stock. You're here for a quick dead cat bounce. And if you're here to invest long term, well, obviously you must not have done you're DD. Business is improving? No it isn't. It's customers, carriers such as Delta, are reducing Mesa. Not only that, but they want to get rid of their contracts with Mesa. And if not succesful by court decision, they will certainly get rid of them after the contract is up. That in itself sounds bleak. Not to mention, the amount of debt. It's still a huge amount. Not only that, Go airlines is a money loser. When you consider how much that Hawaiian lawsuit by itself cost, it's going to take forever for it to make even a dent in what they paid Hawaiian. You have an interisland fare war, in a market where the locals generally don't want you there. You have massive dilution, no matter which way you put it. You have delisting coming up. The amount of baggage this company has, and it's management is what has caused it to go from dollars to pennies. If you think this is good management, then you certainly have done no research at all. It's pennies BECAUSE of the management.

    • I think you are the ignorant one unless you like investing in a company run by liars and thieves... Do you have any morals or are you just like them? Thinks about it, they didn't make anything close to 1.3 billion dollars.... hello this is a regional airline run by rejects from the industry.... There are way too many skeletons buried in the mesa closet.... like what happened to Kristen Brookshire?

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