Mesa Air Group, Inc. reported total operating revenues of $94.7 million for the second quarter of fiscal 2025, a decrease of 28.0% compared to the prior year period. Contract revenue declined by 39.9% to $68.4 million, driven by a reduction in contractual aircraft with United Airlines.
The company recorded a net loss of $58.6 million, or $(1.42) per diluted share, a decline from net income of $11.7 million in Q2 2024. The adjusted net loss was $2.9 million, or $(0.07) per diluted share, compared to adjusted net income of $6.3 million in the prior year.
Mesa completed its multi-year transition by flying its final CRJ-900 flight in February, with its United fleet now consisting exclusively of 60 E-175 aircraft. The company ended the quarter with $54.1 million in unrestricted cash and reduced its total debt to $131.7 million from $400.1 million in the prior year.
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