Mesa Air Group, Inc. (MESA), Thursday announced its decision to increase the daily aircraft utilization rates to improve financial results.
From January 2025, utilization will grow from an average of 8.9 block hours per day in the fourth calendar quarter of 2024 to an average of 9.5 block hours per day.
Further, utilization is expected to reach 9.8 block hours per day by March 2025, or a 10 percent increase from the fourth calendar quarter of 2024.
The move comes as a result of reduced attrition throughout all work groups, more optimal scheduling practices, and improved operational performance.
The company anticipates additional revenue generation from increased utilization, which would be used for improving operating results and cash flow going forward.
Currently, Mesa's stock is climbing 4 percent, to $1.04 on the Nasdaq.
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