Financial Performance - Total operating revenues for Q4 2024 were $115.3 million, an increase of $0.9 million from Q4 2023[5] - Net loss for Q4 2024 was $24.9 million, or $(0.60) per diluted share, compared to a net loss of $28.3 million, or $(0.69) per diluted share, for Q4 2023[8] - Adjusted EBITDAR for Q4 2024 was $18.2 million, compared to an adjusted EBITDAR loss of $2.4 million for Q4 2023[9] - For fiscal full-year 2024, total operating revenues were $476.4 million, a decrease of $21.7 million, or 4.3%, from fiscal full-year 2023[11] - Fiscal full-year 2024 adjusted net loss was $23.0 million, or $(0.56) per diluted share, compared to an adjusted net loss of $79.5 million, or $(2.01) per diluted share, in fiscal full-year 2023[14] - The net loss for the twelve months ended September 30, 2024, was $91,015,000, compared to a net loss of $120,116,000 for the same period in 2023, indicating a 24.2% improvement[23] - GAAP net loss for the fiscal year ended September 30, 2024, was $91.015 million, translating to a loss of $2.21 per diluted share[33] - The adjusted loss for the fiscal year ended September 30, 2024, was $23.045 million, or $0.56 per diluted share, compared to an adjusted loss of $79.472 million, or $2.01 per diluted share, in 2023[33] Operating Expenses - Total operating expenses for Q4 2024 were $132.3 million, a decrease of $2.3 million, or 1.7%, versus Q4 2023[7] - Operating expenses decreased to $132,290,000 for the three months ended September 30, 2024, down from $134,608,000 in 2023, a reduction of 1.7%[23] - Aircraft rent expenses for the fiscal year ended September 30, 2024, were $7.797 million, compared to $6.200 million in 2023, indicating rising operational costs[33] Cash and Assets - As of March 31, 2025, Mesa had $54.1 million in unrestricted cash and cash equivalents[17] - Cash and cash equivalents decreased to $15,621,000 as of September 30, 2024, from $32,940,000 in 2023, a decline of 52.7%[24] - Total assets decreased to $596,858,000 as of September 30, 2024, from $898,467,000 in 2023, a decline of 33.6%[24] - Total current liabilities decreased to $174,458,000 as of September 30, 2024, from $267,906,000 in 2023, a reduction of 34.9%[24] Operational Metrics - The company operated at a 99.88% controllable completion factor for United during Q4 2024, compared to 99.54% in Q4 2023[10] - The controllable completion factor for United was 99.88% for the three months ended September 30, 2024, an increase of 0.3% from 99.54% in 2023[27] - The average number of passengers decreased by 5.4% to 1,435,580 for the three months ended September 30, 2024, compared to 1,517,870 in 2023[27] - The total operating loss for the three months ended September 30, 2024, was $17,033,000, compared to a loss of $20,242,000 in the same period of 2023, reflecting a 15.5% improvement[23] Asset Transactions and Gains - The company completed sales of 18 E-175 aircraft to United for gross proceeds of $227.7 million, with net proceeds of $84.7 million[4] - The company reported a $10.5 million gain on debt forgiveness during the fiscal year ended September 30, 2024[37] - Asset impairment related to held-for-sale assets was $73.7 million for the fiscal year ended September 30, 2024, compared to $50.6 million in 2023, indicating increased asset write-downs[34] - The company experienced a $6.1 million loss on changes in the fair value of investments in equity securities for the fiscal year ended September 30, 2024[35] Non-Recurring Costs - The company incurred $6.0 million in third-party costs associated with non-recurring transactions during the fiscal year ended September 30, 2024[36] - The company reported a $1.2 million non-recurring cost associated with transactions during the three months ended September 30, 2024[32] Adjusted Performance Metrics - Adjusted EBITDA for the fiscal year ended September 30, 2024, was $55.514 million, compared to $24.222 million in the previous year, representing a significant increase[33] - Adjusted EBITDAR for the fiscal year ended September 30, 2024, was $63.311 million, up from $30.422 million in the previous year, reflecting improved operational performance[33]

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2024 OR UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from______________ to ___________. Commission file number 001-38626 MESA AIR GROUP, INC. (Exact name of registrant as specified in its charter) NEVADA 85-0302351 (State or other ...

Group 1 - Monteverde & Associates PC has recovered millions for shareholders and is recognized as a Top 50 Firm in the 2024 ISS Securities Class Action Services Report [1] - The firm is investigating Mesa Air Group, Inc. regarding its proposed merger with Republic Airways Holdings Inc. [1] - Under the merger agreement, Mesa shareholders will own between 6% and 12% of the combined company, contingent on Mesa meeting certain pre-closing criteria [1] Group 2 - Monteverde & Associates PC is a national class action securities firm with a successful track record in trial and appellate courts, including the U.S. Supreme Court [2] - The firm operates from the Empire State Building in New York City [2]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive's content includes insights across various sectors such as biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] Group 2 - Proactive is committed to adopting technology to enhance workflows and content production [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

Core Viewpoint - Republic Airways Holdings Inc. and Mesa Air Group, Inc. have announced a definitive agreement to merge, creating a leading publicly-traded regional airline company in an all-stock transaction, with the combined entity expected to be named Republic Airways Holdings Inc. and listed under the ticker symbol "RJET" [1][2][10] Company Overview - Republic Airways has been a significant player in the regional airline sector since 1974, operating a fleet of over 240 Embraer 170/175 aircraft and serving approximately 17.5 million passengers in 2024, with total revenues of around $1.5 billion and net income of approximately $65 million [3][6] - Mesa Air Group, founded in 1982, operates a fleet of 60 Embraer 175 aircraft, providing scheduled passenger service to 89 cities across 40 states and has approximately 1,700 employees [15] Strategic Rationale - The merger is expected to create economies of scale, enhancing operational efficiency and productivity through a larger, unified fleet, which will improve access to capital markets and attract global institutional investors [4][6] - The combined company is projected to generate revenues of approximately $1.9 billion, with adjusted EBITDA exceeding $320 million and pretax margins between 7% to 9%, excluding one-time merger costs [6][10] Management and Governance - The merged entity will be led by Republic's executive leadership team, with a Board of Directors consisting of six existing Republic directors and one independent director from Mesa [7] Transaction Details - Upon completion, Republic shareholders will own 88% of the combined company's common shares, while Mesa shareholders will own between 6% to 12% based on pre-closing criteria [8][10] - The transaction has received unanimous approval from both companies' Boards of Directors and is expected to close in late Q3 or early Q4 of 2025, subject to regulatory and shareholder approvals [10]

Exhibit 99.1 Mesa Air Group Reports Third Quarter Fiscal 2024 Results October 16, 2024 PHOENIX, October 16, 2024 – Mesa Air Group, Inc. (NASDAQ: MESA) ("Mesa" or the "Company") today reported third quarter fiscal 2024 financial and operating results. Third Quarter Fiscal 2024 Update: • Total operating revenues of $110.8 million, United Express contract revenue 8.0% higher year-overyear • Pre-tax loss of $20.7 million, net loss of $19.9 million, or $(0.48) per diluted share • Adjusted net loss of $9.4 millio ...

Financial Performance - For the three months ended June 30, 2024, operating revenues decreased by $3.9 million, or 3.4%, to $110.8 million compared to the same period in 2023 [118]. - Contract revenue increased by $1.2 million, or 1.3%, to $95.6 million, primarily due to an increased United block hour compensation rate [118]. - Pass-through and other revenue decreased by $5.1 million, or 25.3%, to $15.2 million, attributed to a decrease in pass-through maintenance related to the E-175 fleet [118]. - Operating loss for the three months ended June 30, 2024, was $9.0 million, an improvement from a loss of $40.2 million in the same period in 2023 [114]. - Total operating revenue decreased by $22.5 million, or 5.9%, to $361.2 million for the nine months ended June 30, 2024, compared to the same period in 2023 [129]. - Contract revenue decreased by $16.1 million, or 4.9%, to $310.5 million for the nine months ended June 30, 2024, primarily due to reduced block hours flown and fewer aircraft under contract [129]. - Operating loss improved to $48.8 million for the nine months ended June 30, 2024, compared to an operating loss of $64.1 million for the same period in 2023 [125]. - The company reported a net loss of $66.1 million for the nine months ended June 30, 2024, including a non-cash impairment charge of $50.9 million [144]. Operating Expenses - Total operating expenses decreased by $35.1 million, or 22.7%, to $119.8 million for the three months ended June 30, 2024 [119]. - Flight operations expense decreased by $6.1 million, or 11.8%, to $45.5 million, driven by reduced pilot training expenses and lower pilot wages [119]. - Maintenance expense decreased by $6.8 million, or 13.3%, to $44.3 million, primarily due to a decrease in pass-through engine overhaul costs [119]. - General and administrative expense decreased by $1.6 million, or 14.4%, to $9.7 million for the three months ended June 30, 2024, driven by decreases in wages and pass-through insurance costs [121]. - Depreciation and amortization expense decreased by $5.6 million, or 36.5%, to $9.7 million for the three months ended June 30, 2024, due to aircraft being sold or classified as non-depreciable assets [121]. - Total operating expenses decreased by $37.9 million, or 8.5%, to $409.9 million for the nine months ended June 30, 2024, compared to the same period in 2023 [131]. - Total maintenance costs decreased by $8.2 million, or 5.6%, to $137.2 million for the nine months ended June 30, 2024, compared to $145.3 million for the same period in 2023 [134]. - General and administrative expenses decreased by $6.0 million, or 15.5%, to $32.9 million for the nine months ended June 30, 2024, primarily driven by decreases in pass-through property taxes and insurance costs [135]. - Depreciation and amortization expense decreased by $14.2 million, or 30.2%, to $32.8 million for the nine months ended June 30, 2024, due to aircraft being classified as non-depreciable assets held for sale [135]. Asset Management - The total value of assets reclassified to held for sale was $48.5 million, with an impairment recorded of $23.0 million [102]. - Asset impairment of $50.9 million was recorded for the nine months ended June 30, 2024, primarily related to 19 CRJ-900 airframes and 77 GE model CF34-8C engines designated as held for sale [136]. - The company is actively seeking arrangements to sell surplus assets related to the CRJ fleet to reduce debt and optimize operations [146]. - The company expects to close the sale of the final engine by the end of October 2024, with gross proceeds expected to be $0.7 million [145]. Cash Flow and Liquidity - Net cash provided by operating activities for the nine months ended June 30, 2024, was $19.6 million, compared to a net cash used of $13.8 million for the same period in 2023 [153][156]. - Net cash flow provided by investing activities totaled $112.9 million for the nine months ended June 30, 2024, with proceeds from the sale of aircraft and engines totaling $127.1 million [157]. - Net cash used in financing activities was $149.3 million for the nine months ended June 30, 2024, with principal repayments on long-term debt amounting to $235.2 million [159]. - The company has $16.3 million in cash and cash equivalents and $3.0 million in restricted cash as of June 30, 2024 [151]. - The company has $72.8 million in principal maturity payments on long-term debt due within the next twelve months, which will be met through cash on hand and ongoing cash flows [147]. - As of July 16, 2024, the company was not in compliance with a financial covenant related to a minimum liquidity requirement of $15.0 million but reached an agreement with United for a waiver through December 31, 2024 [143]. - The company entered into a Waiver Agreement to address a projected financial covenant default for the fiscal quarter ending June 30, 2024 [145]. Debt and Interest Rate Management - As of June 30, 2024, the company had $230.4 million of variable-rate debt, with a hypothetical 100 basis point change in market interest rates potentially affecting interest expense by approximately $2.3 million [164]. - The company had $136.2 million of fixed-rate debt as of June 30, 2024, and a hypothetical 100 basis point change in market interest rates would not impact interest expense or materially affect the fair value of these instruments [164]. - The transition from LIBOR to SOFR for the company's debt arrangements was completed between July 31, 2023, and December 31, 2023, with $160.4 million of borrowings based on SOFR as of June 30, 2024 [166]. - The company does not purchase or hold derivative instruments to protect against interest rate changes [164]. Market and Operational Risks - The company is subject to market risks including interest rate risk and limited commodity price risk related to foreign exchange transactions [163]. - The company has de minimis foreign currency risks related to station operating expenses, primarily in Canadian dollars, with revenue denominated in U.S. dollars [166]. - The company has not had a formal hedging program for foreign currency, and a 10% change in current exchange rates would not materially affect financial results [166]. - The company's agreements largely shelter it from fuel price volatility, as fuel is directly paid and supplied by major partners [166]. - The sensitivity analysis provided does not consider the effects of adverse changes on overall economic activity or additional actions the company may take to mitigate exposure [163]. - There have been no material changes to the critical accounting estimates as explained in the Annual Report for the fiscal year ended September 30, 2023 [162].

Group 1 - Mesa Laboratories, Inc. declared a regular quarterly dividend of $0.16 per share of common stock, payable on September 16, 2024, to shareholders of record on August 30, 2024 [1] - Mesa is a global leader in the design and manufacture of life science tools and critical quality control solutions for regulated applications in the pharmaceutical, healthcare, and medical device industries [2] - The company's products and services aim to ensure product integrity, increase patient and worker safety, and improve the quality of life globally [2]

Core Insights - Mesa Air Group has experienced a significant reduction in pilot attrition, which has fallen below expectations due to a slowdown in hiring across the airline industry [1][2] - The company announced the furlough of 12 pilots and deferral of training for 41 pilot trainees, effective July 12, 2024, which is expected to save approximately $750,000 per month in operating expenses [2] - Mesa anticipates that a more stable pilot workforce will allow for an increase in Embraer-175 block hours with United Airlines and plans to start recalling pilots by the end of the year [6] Company Overview - Mesa Air Group, Inc. is headquartered in Phoenix, Arizona, and operates as a regional air carrier providing scheduled passenger service to 73 cities across 32 states, the District of Columbia, Cuba, and Mexico [6] - As of June 30, 2024, Mesa operated a fleet of 73 aircraft with approximately 279 daily departures and employed around 2,000 staff [6] - All flights are operated as United Express under a capacity purchase agreement with United Airlines, Inc. [6]

Exhibit 99.1 Mesa Air Group Reports Second Quarter Fiscal 2024 Results June 18, 2024 PHOENIX, June 18, 2024 – Mesa Air Group, Inc. (NASDAQ: MESA) ("Mesa" or the "Company") today reported second quarter fiscal 2024 financial and operating results. Second Quarter Fiscal 2024 Update: Additional Updates: "Our second quarter results have begun to demonstrate an improvement in our business and reflect our efforts over the past year-and-a-half to restructure and strengthen our operations, P&L, and balance sheet," ...