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Aviation News
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Aviation News Item: 00149 9th Nov 2009 Mesa modifies support agreement with AAR Source: ubmaviationnews.com Mesa Air Group and AAR have amended their parts supply and maintenance agreements for Mesa's CRJ-200 and ERJ-145 aircraft fleet to provide the US regional carrier with "increased flexibility to respond to demand fluctuations in the 50-seat aircraft market," according to the Illinois-based MRO company. AAR will receive a cash payment from Mesa along with 15 million shares of the airline's common stock. AAR will return to Mesa $6.1m aggregate principal amount at maturity of Mesa's 2023 notes. The company, which has generated approximately $30m in annual sales supporting Mesa's CRJ-200 and ERJ-145 fleets, said it does not expect to increase its stock ownership in Mesa. |
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