Mesa Group's results should give no one any cause for celebration.
The results are a peak into the current ills of the US airline market. While their fuel costs plummeted 65% for the quarter (53% for the year to date), their gross yields have dropped a jaw dropping 28%.
This shows that despite holding onto passengers and only seeing a 5% slide in pax numbers their total results show that the situation with yields are in fact worsening not getting better. With its dependence on ACMI operations Mesa is still very dependent on the legacy carriers that it serves (DL, CO, US and UA). Their independent operation in Hawaii is probably still a drain on resources with its former partner Mokulele eating part of its lunch in the Hawaiian Islands - things cannot be that good.
So be warned we are going to be in for some more horrible results for a while yet.
Cheers
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