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The Honolulu Advertiser
Updated at 4:50 p.m., Tuesday, January 13, 2009

Mesa narrows loss to $30.6M in latest quarter

Advertiser Staff

Mesa Air Group Inc., the parent of interisland carrier go!, said today its fiscal fourth-quarter net loss narrowed to $30.6 million, or $1.15 a share, from $68.2 million, or $2.37 a share, a year earlier.

Revenue for the quarter fell 0.8 percent to $325.3 million as a fall in capacity was partially offset by an increase in fuel revenue. Losses from continuing operations for the quarter were $22.3 million, or 83 cents a share.

Pro forma net income, which excludes among other things the impact of vendor settlements, equity investments and a settlement with Aloha Airlines, rose 41 percent to $3.1 million.