Mesa reports $35.1 million quarterly loss

Mesa recorded $121.8 million in revenue during the second quarter of fiscal 2023, down 1.1% year-on-year, as it reported a loss of  $35.1 million, or 88 cents per diluted share. The carrier reported contract revenue decreased $8.2 million, or 7.3%, a fall driven by deferred revenue and lower block hours but partially offset by higher United Airlines block-hour rates for new pilot pay-scales. Pass-through revenue, driven by maintenance and property taxes, increased by $6.8 million, while operating expenses fell 11.5% to $148.7 million. “This decrease was primarily due to $22.7 million lower non-cash impairment of assets held for sale versus