Mesa Air Group Eyes International Growth
March 02 2021 - 7:00AM
Mesa Air Group, Inc. (NASDAQ: MESA) today announced it
has entered into a conditional agreement with Gramercy Associates
Ltd. based in London, England to develop a European based joint
venture. The joint venture will apply for a new Air Operator’s
Certificate (AOC) in the European Union using CRJ-900 aircraft with
the goal of introducing a Capacity Purchase Agreement or ACMI
(Aircraft, Crew, Maintenance, and Insurance) in passenger or cargo
services in Europe. Gramercy Associates is headed by Tony Davis,
former CEO of Tiger Airways and bmibaby.
Under the agreement, Mesa will own 49% of the partnership once
the Air Operator’s Certificate is obtained. The current plan is to
begin operations by the end of 2021. “We are very excited at the
potential to expand our regional business overseas. As Mesa
continues to diversify, we are looking forward to working with
Gramercy on this new European venture,” said Jonathan Ornstein,
Chairman and Chief Executive Officer. “We are looking forward to
teaming up with Mesa to help bring the CPA and ACMI models that
have been so successful in the US to Europe,” said Tony Davis,
Managing Director of Gramercy.
About Mesa Air Group, Inc.
Headquartered in Phoenix, Arizona, Mesa Air Group, Inc. is the
holding company of Mesa Airlines, a regional air carrier providing
scheduled passenger service to 114 cities in 39 states, the
District of Columbia, the Bahamas, Canada, and Mexico as well as
cargo services out of Cincinnati/Northern Kentucky International
Airport. As of January 31st, 2021, Mesa operated a fleet of 160
aircraft with approximately 393 daily departures and 3,700
employees. Mesa operates all of its flights as either American
Eagle, United Express, or DHL Express flights pursuant to the terms
of capacity purchase agreements entered into with American
Airlines, Inc., United Airlines, Inc., and DHL.
About Gramercy Associates Ltd.
Headquartered in the UK, Gramercy Associates Ltd. is an aviation
consultancy and advisory business that has worked with airlines and
aviation related businesses across the world. The firm is headed by
Tony Davis, the former CEO of Tiger Airways and bmibaby and former
COO of Irelandia Aviation Ltd.
Forward-Looking Statements
Certain statements contained in this press release that are not
historical facts contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and within the meaning of Section 21E of the Securities Exchange
Act of 1934, as amended, that are subject to the “safe harbor”
created by those sections. Forward-looking statements can be
identified by the use of words such as “estimate,” “anticipate,”
“expect,” “believe,” “intend,” “may,” “will,” “should,” “seek,”
“approximate” or “plan,” or the negative of these words and phrases
or similar words or phrases. Forward-looking statements, by their
nature, involve estimates, projections, goals, forecasts and
assumptions and are subject to risks and uncertainties that could
cause actual results or outcomes to differ materially from those
expressed in the forward-looking statements. For more information
on risk factors for Mesa Air Group, Inc.’s business, please refer
to the periodic reports the Company files with the Securities and
Exchange Commission from time to time. Many of the risks identified
in the periodic reports have been and will continue to be
heightened as a result of the ongoing and numerous adverse effects
arising from the COVID-19 pandemic. These forward-looking
statements herein speak only as of the date of this press release
and should not be relied upon as predictions of future events. Mesa
Air Group, Inc. expressly disclaims any obligation or undertaking
to update or revise any forward-looking statements contained
herein, to reflect any change in Mesa Air Group, Inc.’s
expectations with regard thereto, or any other change in events,
conditions or circumstances on which any such statement is based,
except as required by law.
Investor RelationsSusan
DonofrioSusan.Donofrio@fticonsulting.com
MediaMegan BilbaoMedia@mesa-air.com
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