Mesa Air posts positive earnings, looks to expand cargo business

Mesa Air bombardier.jpg
Posted at 9:20 AM, Dec 14, 2020
and last updated 2020-12-14 11:20:01-05

Despite major declines in commercial airline use, Phoenix-based Mesa Air Group Inc. reported another positive quarter this week.

The regional airline that operated flights for American Airlines and United Airlines, said that for its fiscal fourth quarter, which ended on Sept. 30, the company had earnings of $11.4 million, or 32 cents per share.

The results crushed expectations from Wall Street analysts who thought Mesa would report a loss of 2 cents per share.

This was the second quarter in a row Mesa ended up in positive territory with its earnings report at a time when most commercial airlines are reporting major losses.

Read more from the Phoenix Business Journal.