Mesa Reaches Settlements on Beeches

On May 16, Mesa Air Group, Inc. eliminated about $28 million in long-term debt when it paid Raytheon $500,000 and for the return of 14 of its 34 Beechcraft 1900D aircraft. The aircraft, which could easily be placed, were held up owing to a dispute between Raytheon and Raytheon Aircraft Credit Corporation. Related Story Great Lakes is looking for more Beech aircraft for the numerous routes it has been awarded under the Essential Air Service program. On May 12, Mesa reached a settlement agreement with MAIR Holdings, Inc. the parent company of Big Sky Airlines, in relation to the early return of 10 Beechcraft 1900D aircraft following Big Sky’s announcement that it was ceasing operations and liquidating its assets. Pursuant to the settlement agreement, Mesa will receive $1.5 million from Big Sky and will retain Big Sky’s security deposits and special supplemental rent.