Mesa Air Group Inc. reported its first quarter fiscal 2025 results, highlighting a total operating revenue of $103.2 million, which represents a decrease of $15.5 million or 13.1% compared to $118.8 million in the first quarter of 2024. The company experienced a net loss of $114.6 million, compared to a net loss of $57.9 million in the same quarter of the previous year. The adjusted net loss was $4.0 million, reflecting a decrease from the adjusted net loss of $21.8 million in Q1 2024. Contract revenue was reported at $80.7 million, showing a decline of $20.4 million or 20.2% from $101.1 million in Q1 2024. This decline was attributed to a reduction in contractual aircraft with United Airlines and the wind-down of the FSA with DHL. However, pass-through revenue increased by $4.9 million or 27.6%, driven by higher maintenance expenses. Operationally, Mesa Air Group achieved a controllable completion factor of 100% for United Airlines during the quarter, an improvement from 99.92% in Q1 2024. Scheduled utilization was reported at 8.9 block hours per day. The company noted that block hour utilization is expected to increase to 9.8 in the upcoming June quarter, indicating a positive operational trend.
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