Regional carrier Mesa Airlines plans IPO

Thursday, 18 Jul, 2018 0

Regional carrier Mesa Airlines has signaled its intent to go public.

The Arizona based airline filed with the Securities and Exchange Commission for an intinitial public offering.

If it goes ahead it would be the first for a US airline for four years since Virgin America went public.

"We believe we have expanded our share with our major airline partners because of our competitive cost structure, access to pilots under our labour agreements and track record of reliable performance," the airline said in the filing.

"All of our operating revenue in our 2017 fiscal year and the six months ended 31 March 2018 was derived from operations associated with our American and United capacity-purchase agreements."

The airline has significantly increased its share of the total regional fleets of both American Airlines and United, it said.

Mesa flies feeder routes for both airlines’ regional brands and as of March 31, has a fleet of 145 aircraft.

Mesa’s operating revenue has grown 55% in the past four years, from $415 million to $643 million in 2017.

It will be listed under the ‘MESA’ stock market ticker and hopes the IPO will raise about $150 million.

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