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News

Court approvals assure continued operation at Mesa Air Group


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Mesa Air Group
: 08 January, 2010  (Company News)
At its first day hearing at the New York Bankruptcy court, Mesa Air Group received approvals from court that enable the company to continue to operate
Mesa Air Group has received approval of all critical motions at its 'first-day' hearing in the United States Bankruptcy Court for the Southern District of New York presided over by the Honourable Judge Martin Glenn. Requests included covering its obligations to employees, suppliers and customers, business operations, tax matters, cash management, fuel procurement, and case management.

To ensure the Company continues to operate without interruption, the Court has approved all requests which include important motions such as the Company's requests to continue to use its current cash management systems which will support the other approved requests including the continuation of existing employee salary and benefit programs, payment of pre-petition amounts to certain critical vendors, ongoing payments to vendors and suppliers, and the continuation of all go! Mokulele customer programs.

'The approval of our first day motions allows us to continue to focus on our restructuring efforts,' said Jonathan Ornstein Chairman and Chief Executive of Mesa. 'Our hope is to move through this process in a timely manner and this first success is the foundation upon which we will build as we eliminate excess aircraft to better match our needs and give us the flexibility to align our business to the changing regional airline marketplace.'

Mesa Air Group filed voluntary petitions to reorganize under Chapter 11 of the US Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York on January 5, 2010. The case number is 10-10018 and is being presided over by the Honourable Judge Martin Glenn. Interested parties can find updates and additional information at the Company's website. Imperial Capital is serving as financial advisor, and Pachulski, Stang, Ziehl & Jones LLP is serving as legal counsel to the Company and its subsidiaries in connection with the restructuring.
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