Mesa Air Group Chapter 11 Info
07-28-2010, 03:45 PM
#1072
Gets Weekends Off
Joined APC: Feb 2007
Position: EMB145
Posts: 772
August is going to be real interesting for Freedom.
for August 90% of the FO's it will be there last month flying. (Sick Time doesn't pay out when Furloughed )
Short on FO's and CA's (especially after the 16th)
extremely short on FA's
They canceled recurrent for Freedom pilots several pilots July is there grace month.
for August 90% of the FO's it will be there last month flying. (Sick Time doesn't pay out when Furloughed )
Short on FO's and CA's (especially after the 16th)
extremely short on FA's
They canceled recurrent for Freedom pilots several pilots July is there grace month.
07-28-2010, 05:53 PM
#1073
Gets Weekends Off
Thread Starter
Joined APC: Jun 2008
Posts: 467
FlyingNasaForm,
It's been fairly quiet as MAG has been cleaning up some litigation issues, collectively rejecting claims, preparing their POR and simultaneously negotiating for an extension of their USAirways contract.
In the June MOR, MAG submitted reorganization losses for the rejection of aircraft leases for a total of $448,910,000 resulting in the net loss of $275,336,000. Another number of interest was MAG's income for June at $11,173,000.
Summary:
Total Revenue: $74,424,000
Total Operating Expenses: $60,729,000
Total Non-Operating Income (Expense): ($2,523,000)
Income (Loss) Before Reorganization Items and Income Taxes: $11,173,000
Income (Loss) Before Discontinued Operations: ($275,336,000)
Net Income (Loss): ($275,336,000)
Total Assets: $921,522,000
Total Liabilities: $1,096,860,000
Total Liabilities and Stockholder's Equity: $921,522,000
Cash and Cash Equivalents at End of Period: $52,165,000
Cash and Cash Equivalents at Beginning of Period: $60,833,000
Increase (Decrease) in Cash and Cash Equivalents: ($8,668,000)
Prepare for the big reveal!
winglet
It's been fairly quiet as MAG has been cleaning up some litigation issues, collectively rejecting claims, preparing their POR and simultaneously negotiating for an extension of their USAirways contract.
In the June MOR, MAG submitted reorganization losses for the rejection of aircraft leases for a total of $448,910,000 resulting in the net loss of $275,336,000. Another number of interest was MAG's income for June at $11,173,000.
Summary:
Total Revenue: $74,424,000
Total Operating Expenses: $60,729,000
Total Non-Operating Income (Expense): ($2,523,000)
Income (Loss) Before Reorganization Items and Income Taxes: $11,173,000
Income (Loss) Before Discontinued Operations: ($275,336,000)
Net Income (Loss): ($275,336,000)
Total Assets: $921,522,000
Total Liabilities: $1,096,860,000
Total Liabilities and Stockholder's Equity: $921,522,000
Cash and Cash Equivalents at End of Period: $52,165,000
Cash and Cash Equivalents at Beginning of Period: $60,833,000
Increase (Decrease) in Cash and Cash Equivalents: ($8,668,000)
Prepare for the big reveal!
winglet
Last edited by winglet; 07-29-2010 at 10:37 AM.
07-28-2010, 06:06 PM
#1074
Gets Weekends Off
Thread Starter
Joined APC: Jun 2008
Posts: 467
Mods,
Could you please return the name of this thread to it's original form (MAG Chapter 11 Information)? This thread was intended to encompass all MAG Chapter 11 Information and the "/Delta Lawsuit" is but only one piece of that puzzle.
Thank You,
winglet
Could you please return the name of this thread to it's original form (MAG Chapter 11 Information)? This thread was intended to encompass all MAG Chapter 11 Information and the "/Delta Lawsuit" is but only one piece of that puzzle.
Thank You,
winglet
07-28-2010, 07:33 PM
#1076
Prime Minister/Moderator
Joined APC: Jan 2006
Position: Engines Turn Or People Swim
Posts: 40,041
That was done automatically when I merged another thread into this one. Actually I'm not sure about that, not sure why it was changed.
Last edited by rickair7777; 07-28-2010 at 09:42 PM.
07-28-2010, 09:57 PM
#1078
Go Knights Go
Joined APC: Apr 2008
Position: OCC/Dispatch
Posts: 261
Winglet,
The 11 mil in taxes, would that include secured claim payments to airports for fees? Are is MAG paying back taxes to Uncle Sam?
Everyone can think as they like on this, but I think having the US extension before filling the POR is more important than been let on. My 2 cents.
The 11 mil in taxes, would that include secured claim payments to airports for fees? Are is MAG paying back taxes to Uncle Sam?
Everyone can think as they like on this, but I think having the US extension before filling the POR is more important than been let on. My 2 cents.
07-28-2010, 10:21 PM
#1079
Gets Weekends Off
Thread Starter
Joined APC: Jun 2008
Posts: 467
The $11 million is income before reorganization items and taxes. This demonstrates that MAG is making money with it's existing contracts.
June included the aircraft rejection loss ($448,910,000 due to the rejection of aircraft leases). MAG claims a net loss for the month of $275,336,000 due to these reorganization items.
winglet
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