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MESA REPORTS SECOND-QUARTER EARNINGS

 FARMINGTON, N.M., April 28 /PRNewswire/ -- Mesa Airlines Inc. (NASDAQ: MESA) reported its earnings today for the second quarter ended March 31, 1993. The company had operating income of $11.6 million on revenues of $86.8 million. Earnings prior to the write-off of certain assets were $6.6 million, or $.20 per share. The company recently announced the one-time write-off of certain non- productive WestAir assets totaling $6.2 million. As a result, net earnings for the March quarter were $2.7 million, or $.08 per share, compared to net earnings in the prior year of $2.1 million.
 The company carried 1,045,644 passengers during the quarter. Yield per revenue passenger mile was 36.9 cents, while the operating cost per available seat mile was 16.3 cents.
 "The unit cost in the quarter decreased more rapidly than anticipated. This is due in part to the continued lowering of cost at WestAir and the increase in available seat miles throughout the system, which resulted from the addition of aircraft and better utilization of the existing fleet," stated Larry Risley, chief executive officer for the company.
 Mesa Airlines Inc. is the largest independently owned regional carrier in the country, operating seven different airline systems in 150 cities with a fleet of 130 aircraft.
 MESA AIRLINES
 For the three For the six
 months ended months ended
 March 31, March 31,
 1993 1992 1993 1992
 (dollars in thousands)
 Financial Summary
 Operating revenues $86,809 $75,165 $171,831 $148,325
 Operating income 11,632 4,304 21,388 4,260
 Net income 2,742 2,142 8,132 1,603
 Net income per share .08 .08 .25 .06
 Average shares
 outstanding (000) 32,727 25,819 32,644 25,683
 Operating Statistics
 Passengers 1,045,644 835,102 2,110,705 1,697,924
 Available seat
 miles (000) 459,837 407,507 887,185 801,340
 Revenue passenger
 miles (000) 224,859 168,944 443,191 345,023
 Load factor 48.9 pct 41.5 pct 50.0 pct 43.1 pct
 Yield per revenue
 passenger mile 36.9 cents 42.6 cents 37.1 cents 40.8 cents
 Operating cost
 per available
 seat mile 16.3 cents 17.4 cents 17.0 cents 18.0 cents
 -0- 4/28/93
 /CONTACT: Blaine Jones of Mesa Airlines, 505-327-0271/
 (MESA)


CO: Mesa Airlines Inc. ST: New Mexico IN: AIR SU: ERN

JL-LS -- LA007 -- 1759 04/28/93 08:02 EDT
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Publication:PR Newswire
Date:Apr 28, 1993
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