Mesa Air surges after first profit in 11 quarters

Republic Airways Holdings

18/06/2024 13:31

** Shares of Mesa Air Group  MESA.O  jump 20% to $1.38
premarket after co reports first quarterly profit in 11 quarters
    ** Reports Q2 net profit of $11.7 mln, or 28 cents per
share, compared with a net loss of $35.1 mln, or 88 cents per
share, a year earlier
    ** Q2 revenue rises 8% to $131.6 mln; operating expenses
fall by 19.3% compared with year earlier
    ** Co expects to remain cash-flow neutral for remainder of
2024
    ** YTD, stock up 11.9%

 (Reporting by Shivansh Tiwary in Bengaluru)
 ((Shivansh.Tiwary@thomsonreuters.com; +91 9708363192; X:
@Shivansh_19_;))