Mesa reports quarterly loss, plans to sell stake in Chinese JV

Mesa Air Group reported a $3.7 million loss for the fiscal third quarter ended June 30, reversed from a $2.6 million profit in the year-ago period, and said it intends to sell its share in its Chinese regional joint venture Kunpeng Airlines back to its partner in the venture, Shenzhen Airlines. Operating revenue was up 4% year-over-year to $353.9 million but expenses climbed 9.3% to $357.1 million, resulting in an operating loss of $3.2 million compared to a $13.6 million profit a year ...