Market Overview

Mesa Air Group Announces Commencement of IPO


Mesa Air Group, Inc. ("Mesa" or the "Company") announced today the
commencement of its initial public offering of 10,700,000 shares of its
common stock, at an anticipated initial public offering price between
$14.00 and $16.00 per share, pursuant to a registration statement on
Form S-1 previously filed with the U.S. Securities and Exchange
Commission (the "SEC"). The Company and the selling shareholders named
in the registration statement granted the underwriters a 30-day
over-allotment option to purchase up to an additional 1,605,000 shares
of the Company's common stock. If the overallotment option is exercised
in full, 938,333 shares will be purchased directly from the Company, and
666,667 shares will be purchased directly from the selling shareholders.
The Company has been approved to list its common stock on the
Nasdaq Global Select Market (Nasdaq) under the symbol "MESA," subject to
official notice of issuance.

The Company intends to use the net proceeds from the offering received
by it to repay certain outstanding indebtedness, to pay fees and
expenses related to the offering and the remainder for general corporate
purposes. The Company will not receive any proceeds from the offering of
the common stock by the selling shareholders.

Raymond James and BofA Merrill Lynch are acting as lead book-running
managers for the proposed offering. Cowen, Stifel and Imperial Capital
are acting as additional book-running managers for the proposed offering.

This offering will be made only by means of a written prospectus. A copy
of the preliminary prospectus for the offering may be obtained, when
available, from: Raymond James & Associates, Inc., 880 Carillon Parkway,
St. Petersburg, FL 33716, telephone: (800) 248-8863, email:;
or BofA Merrill Lynch, attention: Prospectus Department, NC1-004-03-43,
200 North College Street 3rd floor, Charlotte, NC 28255-0001, email:
A registration statement, including a prospectus, which is preliminary
and subject to completion, relating to these securities has been filed
with the SEC but has not yet become effective. These securities may not
be sold nor may offers to buy be accepted prior to the time the
registration statement becomes effective. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor
shall there be any sale of these securities in any state or jurisdiction
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.

About Mesa Air Group, Inc.

Headquartered in Phoenix, Arizona, Mesa is a regional air carrier
providing scheduled passenger service to 110 cities in 38 states, the
District of Columbia, Canada, Mexico, Cuba and the Bahamas. As of March
31, 2018, Mesa operated a fleet of 145 aircraft with approximately 610
daily departures. Mesa operates all of its flights as either American
Eagle or United Express flights pursuant to the terms of capacity
purchase agreements entered into with American Airlines, Inc. and United
Airlines, Inc. Mesa has been the fastest growing regional airline in the
United States over the last five fiscal years, based on fleet growth,
with a cumulative increase in aircraft of 137%.

Forward-Looking Statements

The statements contained in this release that are not historical
facts are forward-looking statements. These forward-looking statements
are based on Mesa's current expectations and are subject to uncertainty
and changes in circumstances. Actual results may differ materially from
these expectations due to changes in global, regional or local economic,
business, competitive, market, regulatory and other factors, many of
which are beyond Mesa's control. Any forward-looking statement in this
release speaks only as of the date of this release. Mesa undertakes no
obligation to publicly update or review any forward-looking statement,
whether as a result of new information, future developments or
otherwise, except as may be required by any applicable securities laws.

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