Market Overview

Mesa Air Group Announces Closing of Initial Public Offering


Mesa Air Group, Inc. ("Mesa" or the "Company") announced today the
closing of its initial public offering of 9,630,000 shares of its common
stock, at a public offering price of $12.00 per share, thereby raising
gross proceeds of $115,560,000. The shares trade on the Nasdaq Global
Select Market under the symbol "MESA." The Company and the selling
shareholders identified in the registration statement on Form S-1
previously filed with the U.S. Securities and Exchange Commission
("SEC") have granted the underwriters a 30-day overallotment option to
purchase up to an additional 1,444,500 shares of the Company's common
stock. If the overallotment option is exercised in full, 777,833 shares
will be purchased directly from the Company, and 666,667 shares will be
purchased directly from the selling shareholders.

Mesa 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 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 offering. Cowen, Stifel and Imperial Capital are acting
as additional book-running managers for the offering.

The initial public offering is being made solely by means of a written
prospectus. A registration statement relating to these securities has
been filed with, and declared effective by, the SEC. A copy of the final
prospectus for the offering may be obtained for free by visiting the SEC
website at
Alternatively, a copy of the prospectus related to this offering may be
obtained 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:
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

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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