- Regional air carrier Mesa Air Group has filed for an initial public offering.
- Its registration statement notes an initial value of $150M. The offering comes via Raymond James, BofA Merrill Lynch, Cowen, Stifel and Imperial Capital.
- It's applying to list on Nasdaq Global Select under the symbol MESA.
- The company offers scheduled passenger service to 110 cities in 38 states (with a strong presence in Dallas, Houston, Phoenix and Washington Dulles), operating flights as American Eagle or United Express.
- For the six months ended March 31, it posted operating revenues of $332.3M (up from a year-ago $319.3M) and net income of $25M (up from the prior year's $11.9M).
- Primary competitors include SkyWest (NASDAQ:SKYW); captive subsidiaries of American Airlines (NASDAQ:AAL) including PSA, Envoy and Piedmont; Republic (majority owned by American, Delta (NYSE:DAL) and United (NYSE:UAL)); and private Trans State Holdings (parent of Compass, GoJet and Trans States).
- Now read: Delta Fights Fuel Costs With Record Revenues
Original article