Mesa Air Group posts Q2 net income of $11.7M, first profit in 11 quarters

REPUBLIC AIRWAYS HOLDINGS INC.

Revenue $131.6M (+8% YoY); net income $0.28 diluted EPS vs loss $(0.88) prior year.
Adjusted net income $6.3M ($0.15 diluted EPS); adjusted EBITDAR $28.2M.
Total debt reduced 36% YoY to $400.0M; $221.5M reduction over past year.
Recognized $8.8M catch-up from higher E-175 rates with United; fleet at 56 E-175s and 24 CRJ-900s.
Renegotiated two CRJ leases saving $9.5M; expects cash-flow neutral for remainder of FY.

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