Mesa Provides Update on RASPRO Surplus CRJ Asset Transactions

Core Viewpoint - Mesa Air Group has successfully completed the sale of six surplus CRJ900 airframes and ten surplus CRJ engines, significantly reducing its financial obligations under the Regional Aircraft Securitization Program (RASPRO) [1][2]. Group 1: Financial Updates - The RASPRO finance lease initially carried a $50.4 million obligation for Mesa to purchase the assets by March 2024, which has now been reduced to $27.3 million as of May 31, 2024, following the recent sales [2]. - The company anticipates fully eliminating the remaining purchase obligation in the coming months as it continues to sell the remaining assets from RASPRO [2]. Group 2: Strategic Focus - Addressing the RASPRO lease has been a top priority for Mesa's surplus asset sale efforts over the past year and a half, allowing the company to focus on returning to profitable performance and executing other strategic actions [3]. - The company looks forward to enhancing its focus on future growth and profitability as it completes the remaining transactions related to the RASPRO assets [3]. Group 3: Company Overview - Mesa Air Group, headquartered in Phoenix, Arizona, operates as a regional air carrier providing scheduled passenger service to 79 cities across 36 states, Canada, Cuba, and Mexico [4]. - As of March 31, 2024, Mesa operated a fleet of 80 aircraft with approximately 263 daily departures and employed around 2,110 staff [4].