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Phoenix-Based Mesa Air Group Posts Sharp Increase in Earnings.(Knight Ridder/Tribune Business News)
Knight Ridder/Tribune Business News, January, 2000 by Corbett, Peter
Jan. 28--Mesa Air Group reported a big earnings gain Thursday and a $1.5 billion aircraft order, signals to Wall Street that the company is on solid ground after losing a big contract two years ago.
First-quarter earnings for the Phoenix-based regional carrier soared 186 percent, to $5 million, or 15 cents per share. Analysts had forecast earnings of 14 cents per share.
Mesa, which operates America West Express and other regional operations, is acquiring 36 Embraer 50-seat regional jets and has options on 64 Embraer 37-seat jets.
The aircraft order and healthy earnings growth in the face of higher fuel prices and Y2K concerns is a sign that the company is turning things around, said airline analyst Michael Linenberg of Merrill Lynch Global...
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