United Partner Mesa Airlines Sells 6 CRJ900 Aircraft
In addition to selling six CRJ900 aircraft, the airline also sold ten CRJ900 engines. Mesa Air Group, a United Airlines partner, has sold six of its 15 surplus Bombardier CRJ900 regional jets and ten of its 30 surplus CrJ900 engines as part of its Regional Aircraft Securitization Program (RASPRO) finance lease. The airline had entered into agreements with two third parties to sell 15 aircraft and 30 engines to reduce its lease obligations and return to profitability. Previously, Mesa Airlines had to purchase certain assets for $50.4 million at the end of their lease period in March 2024, but this has now been spread out over the months from May 2024 to September 2024. This obligation has been reduced to $27.3 million due to recent sales and payments, and Mesa expects to completely pay this debt by continuing to buy and then sell the remaining assets as planned. Despite the sales of surplus assets, the airline reported a net loss of $57.9 million for the first quarter of 2024.
Veröffentlicht : vor 2 Wochen durch Vyte Klisauskaite in Travel
United Airlines partner Mesa Air Group has sold six of its 15 surplus Bombardier CRJ900 regional jets and ten of its 30 surplus CRJ900 engines as part of its Regional Aircraft Securitization Program (RASPRO) finance lease, the airline said in an official announcement.
Mesa Air Group had earlier entered into agreements with two different third parties to sell 15 aircraft and 30 engines. The agreements were made to reduce its lease obligations and return to profitability.
Previously, Mesa Airlines had a financial agreement that required them to buy certain assets for $50.4 million at the end of the lease period in March 2024. However, they have now arranged to spread out this purchase over the months from May 2024 to September 2024.
As of May 31, 2024, due to some recent sales and payments, this obligation has been reduced to $27.3 million. Mesa expects to completely pay off this obligation soon by continuing to buy and then sell the remaining assets as planned.
Commenting on the RASPRO finance lease, the chief executive officer and chairperson of Mesa Air Group, Jonathan Ornstein, said:
“Addressing the RASPRO lease has been one of the top priorities for our surplus asset sale efforts over the past year-and-a-half. This is a significant financial obligation that we are putting behind us, and we are increasingly able to prioritize the future of the company for our investors and people.
It has been a long journey for Mesa Airlines to complete the majority of surplus CRJ900 asset sales. In its latest quarterly report, announced on May 20, 2024, Mesa disclosed the sale of twelve CF34-8C engines, which brought in gross proceeds of $54.4 million.
Despite the sales of surplus assets, the airline reported a net loss of $57.9 million for the first quarter of 2024.
Looking ahead, the airline expects to report an adjusted net profit for the first time in ten quarters. The airline’s CEO added:
Mesa Air Group is the holding company of Mesa Airlines. Headquartered in Phoenix, the United States, Mes Airlines is a regional carrier offering scheduled services to 79 destinations across 36 states and the District of Columbia, Canada, Cuba, and Mexico.
Currently, the regional carrier operates a fleet of 123 aircraft, according to ch-aviation data. The fleet comprises 60 Embraer ERJ 170-200LRs, 25 Bombardier CRJ900ERs, 13 Bombardier CRJ-900LRs, 12 Bombardier CRJ900s, 11 Embraer ERJ 170-200LL, and two Boeing 737-400SF regional jets.
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Themen: Aviation, Airlines