Mesa Air Group, Inc. (Nasdaq: MESA) reported its preliminary traffic figures, on-time performance, and completion rate figures for September 2002. Year over year comparisons to 2001 are distorted by the three-day shut down of the United States air traffic system and the resulting passenger decline that followed the terrorist attacks of Sept. 11, 2001.
Year-over-year revenue passenger miles increased 71.6% in September 2002 to 171.3 million, compared to 99.8 million in September 2001. Total available seat miles increased 52.4% in September 2002 to 323.1 million from 212.0 million in September 2001 and passengers carried increased 72.5% to 439,667 from 254,826 a year ago.
Load factor increased to 53.0% in September 2002 versus 47.1% in September 2001, an increase of 5.9 points. Mesa`s controllable completion rate, which excludes weather-related cancellations, was 97.3% in September. Mesa Air Group`s on-time arrival performance for the month of September was 86.8%. In August 2002, the most recent month with data available for comparative purposes, Mesa`s on-time arrival performance was 86.5%, which would have ranked it first when compared to the top 10 reporting carriers.
September Results September 02 September 01 Change // Revenue Passenger Miles (000) 171,349 99,856 71.6% // Available Seat Miles (000) 323,126 212,017 52.4% // Passengers Carried 439,667 254,826 72.5% // Load Factor 53.0% 47.1% 5.9 pts. // Year-to-date Results YTD 02 YTD 01 Change // Revenue Passenger Miles (000) 1,575,575 1,345,397 17.1% // Available Seat Miles (000) 2,713,290 2,476,420 9.6% // Passengers Carried 3,992,303 3,566,819 11.9% // Load Factor 58.1% 54.3% 3.7 pts.
“Although our year-over-year traffic was impacted by September 11, we are pleased to report increases in load factor and traffic in what continues to be a difficult operating environment,” said Jonathan Ornstein, Mesa`s Chairman and Chief Executive Officer. “I want to thank our employees for all their hard work to maintain Mesa`s position as one of the premier regional carriers as evidenced by our number one on-time ranking for the month of August.”
This press release contains various forward-looking statements that are based on management`s beliefs, as well as assumptions made by and information currently available to management. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable; it can give no assurance that such expectations will prove to have been correct. Such statements are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results September vary materially from those anticipated, estimated, projected or expected. The company does not intend to update these forward-looking statements prior to its next required filing with the Securities and Exchange Commission.