Mesa Air Group Inc. has reported its financial results for the second quarter of fiscal 2025, revealing a notable decline in total operating revenues and a significant net loss. The company's total operating revenues for the period were $94.7 million, marking a decrease of $36.8 million, or 28.0%, compared to $131.6 million in the same quarter the previous year. This decline was primarily attributed to a reduction in contractual aircraft with United Airlines and an increase in deferred revenue. The company recorded a net loss of $58.6 million, compared to a net income of $11.7 million in the second quarter of 2024. Mesa's adjusted net loss stood at $2.9 million, excluding a $53.8 million loss related to the impairment and loss on the sale of assets. Adjusted EBITDA for the quarter was $8.3 million, down from $26.8 million in the previous year. Operational performance was strong, with the company achieving a controllable completion factor of 99.9% for United. However, there was a decrease in contract revenue to $68.4 million, down by $45.4 million, or 39.9%, from $113.8 million in the second quarter of the previous year. This reduction was largely due to changes in contractual arrangements with United. The company also noted that pass-through revenue increased by $8.6 million, driven mainly by higher pass-through maintenance expenses. Mesa completed its last CRJ-900 flight on February 28, 2025, marking a significant milestone in its operational restructuring.