Mesa Air Group Files 8-K for Material Agreement

TL;DR

MESA files 8-K for material agreement, expect news soon.

AI Summary

Mesa Air Group, Inc. reported on December 31, 2024, that it entered into a material definitive agreement. The filing also indicates other events occurred on the same date. The company is incorporated in Nevada and its principal executive offices are located in Phoenix, Arizona.

Why It Matters

This 8-K filing signals a significant development for Mesa Air Group, potentially impacting its operations, financial standing, or strategic direction.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or alter existing ones for a company.

Key Players & Entities

• Mesa Air Group, Inc. (company) — Registrant
• December 31, 2024 (date) — Date of earliest event reported
• 410 North 44th Street, Suite 700, Phoenix, Arizona 85008 (location) — Business and Mail Address
• Nevada (location) — State of Incorporation

FAQ

Key Financial Figures

• $229.1 m — sale of the Aircraft are expected to be $229.1 million, $142.4 million of which will be
• $142.4 million — raft are expected to be $229.1 million, $142.4 million of which will be used to pay off associ
• $35.8 million — yielding net proceeds to the Company of $35.8 million after giving effect to the payoff of as
• $19.0 m — ale of the Airframes are expected to be $19.0 million, all of which will be used to pay

Filing Documents

• mesa-20241231.htm (8-K) — 48KB
• 0000950170-25-002552.txt ( ) — 163KB
• mesa-20241231.xsd (EX-101.SCH) — 27KB
• mesa-20241231_htm.xml (XML) — 5KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. Aircraft Sale Agreement On December 31, 2024, Mesa Air Group, Inc. (the " Company ") and its wholly owned subsidiary, Mesa Airlines, Inc. (" Mesa Airlines "), entered into an Aircraft Purchase Agreement with United Airlines, Inc. (" United ") pursuant to which Mesa Airlines agreed to sell to United eighteen (18) Embraer Model ERJ 175 aircraft owned by Mesa Airlines, together with each aircraft's related airframe, two engines, APUs, data, parts, components and accessories (collectively, the " Aircraft "), subject to the terms and conditions set forth in the Aircraft Purchase Agreement. Gross proceeds from the sale of the Aircraft are expected to be $229.1 million, $142.4 million of which will be used to pay off associated debt. The sale of eight (8) of the 18 Aircraft closed on December 31, 2024, yielding net proceeds to the Company of $35.8 million after giving effect to the payoff of associated debt. The sale of the remaining ten aircraft is expected to close on or prior to January 31, 2025 or such later date as may be mutually agreed to by the parties. The closing of the sale of the remaining Aircraft is subject to closing conditions customary for transactions of this type. Concurrently with closing date with respect to each Aircraft acquired by United, Mesa Airlines and United have entered into, and will enter into with respect to the remaining ten aircraft, lease agreements pursuant to which Mesa Airlines will lease each such Aircraft from United on the terms set forth in the applicable lease agreements. Item. 8.01. Other Events. Airframe Sale Agreement On December 24, 2024, Mesa Airlines entered into an agreement with a third party for the sale of fifteen (15) used CRJ-900 airframes, together with landing gear and certain related parts (collectively, the " Airframes "). Gross proceeds from the sale of the Airframes are expected to be $19.0 million, all of which will be used to pay down our loan wi

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Mesa Air Group, Inc. Date: January 7, 2025 By: /s/ Brian S. Gillman Brian S. Gillman Executive Vice President and General Counsel

View Full Filing

View this 8-K filing on SEC EDGAR