Press Release Source: Mesa Air Group
Mesa Air Group Announces Addition of Three 50-Seat Regional Jets to Its Revenue-Guarantee Agreement With US Airways
Tuesday November 25, 10:50 am ET
PHOENIX, Nov. 25 /PRNewswire-FirstCall/ -- Mesa Air Group (Nasdaq: MESA - News) announced today it has reached a final agreement with US Airways to add three 50-seat regional jets to its existing revenue-guarantee agreement. This amendment, which is subject to US Airways Board of Directors approval, increases the number of 50-seat regional jets under the contract with US Airways to 59. Mesa currently has 52 of the 50-seat regional jet aircraft in service with US Airways. The three new aircraft, which will be acquired on an operating lease from a third party lessor, are expected to be placed into service in early 2004. The remaining four aircraft under the contract will be delivered in December 2003. These aircraft will go into service for ten years.
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"This opportunity became available to us on very short notice. Our ability to act quickly and make this happen is a credit to Mesa's operational integrity, effective cost structure and our people's 'can do attitude.' We continue to build upon our proven business model based on long term revenue-guarantee agreements with major airlines serving hub networks. We believe this strategy provides the best opportunity for our company and employees," said Jonathan Ornstein, Mesa's Chairman and Chief Executive Officer.
My guess is that US needed some more little jets fast to make
up for the big delay from Brazil.A fine example of stategic thinking
and your concession dollars at work...