Mesa Air Group reports first quarter fiscal 2022 results

Mesa Air Group has reported a net loss of $14.3 million for the first quarter fiscal of 2022, compared to net income of $14.1 million for Q1 FY21. Mesa’s Q1 FY22 adjusted net loss of $9.3 million was down compared to net income of $13.2 million in Q1 FY21. Mesa has attributed this $22.5 million decrease to the impacts related to Covid, such as cancelled flights, a catch up in deferred heavy maintenance expense, and a spike in sick-related absence rates. Revenue in Q1 2022 was $147.8 million, a decrease of $2.6 million (1.7%) from $150.4 million for Q1 2021.