Mesa Air Files For Bankruptcy, To Cut Fleet

[marmar]

January 6, 2010

US regional airline operator Mesa Air filed for bankruptcy protection on Tuesday, and said it would trim its oversized fleet and emerge as a stronger company.

Mesa has 130 planes -- about 52 of them not in use -- and said in court papers it plans to retire 25 others that it does not need.

Mesa said the downsizing will eliminate significant costs associated with retaining, maintaining and storing excess aircraft.

"Our company has ample liquidity to support itself during this process and we are confident we will emerge from Chapter 11 an even stronger operation," Jonathan Ornstein, Mesa chief executive, said in a statement.

Mesa filed for Chapter 11 protection in US Bankruptcy Court, Southern District of New York. ...............(more)

The complete piece is at: http://news.airwise.com/story/view/1262738960.html