Mesa reports small net loss in Q1 2023

Arizona-based Mesa reported operating revenues of $147.2 million for the first quarter of 2023 (Q1 2023). A net loss of  $9.1 million or $0.25 per diluted share meant an year-on-year improvement on the $14.3 million loss for the same period in 2022. The carrier gave an adjusted net loss of $4.3 million, which it said excluded “a $3.7 million impairment related to intangible assets and $1.7 million related to investments in equity securities”. The operating revenue amounted to a decrease of 0.4% from the $147.8 million for Q1 2022, and included a fall in contract revenue of $8.4 million, which