Mesa Air Group Reports Q4 Earnings, Outlines Merger Integration Plans

Airline highlights operational performance, financial guidance, and multi-year integration strategy following Republic-Mesa merger.

Published on Mar. 9, 2026

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Mesa Air Group used its fiscal fourth-quarter 2025 earnings call to outline early results and priorities following the recently completed merger with Republic, highlighting operational performance, integration plans stretching into 2027, and financial guidance that reflects a full year of combined operations in 2026.

Why it matters

The merger between Mesa Air Group and Republic is seen as a transformational move to increase scale and strategic relevance in the consolidating regional airline market. The integration plan and financial outlook provide insight into how the combined company aims to leverage its expanded fleet, network, and operational capabilities to drive growth and profitability.

The details

Executives described the call as Republic's first earnings update since the Mesa merger, framing the transaction as 'transformational.' The carrier is now the largest Embraer jet operator, with a single-fleet strategy centered on the E170 and E175. Management emphasized operational reliability as a key differentiator, noting 349 days of 'perfect controllable operations' in 2025. The integration plan is organized into four work streams to deliver 'operational, financial, and regulatory alignment' over 2026 and 2027, including back-office consolidation, IT infrastructure, fleet harmonization, and operating certificate alignment.

  • The merger between Mesa Air Group and Republic closed in late 2025.
  • The Q4 2025 earnings call was Republic's first update since the merger.
  • Integration activities are expected to continue through the end of 2027, with certain milestones targeted for the end of 2026.

The players

Mesa Air Group

A regional airline holding company headquartered in Phoenix, Arizona that provides feeder air transportation services under capacity purchase agreements with major U.S. carriers.

Republic

The combined entity formed by the merger of Mesa Air Group and Republic, now the largest Embraer jet operator with a focus on the E170 and E175 models.

David Grizzle

Chairman and CEO of Mesa Air Group.

Matt Koscal

President and Chief Commercial Officer of Mesa Air Group.

Joe Allman

Chief Financial Officer of Mesa Air Group.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee (Instagram)

What’s next

The company is focused on executing its integration plan over the next two years, with key milestones targeted for the end of 2026 and full completion by the end of 2027. Management also highlighted a goal of reducing debt levels to below 2.2x leverage by the end of 2026.

The takeaway

The Mesa-Republic merger represents a strategic move to increase scale and relevance in the regional airline market. The integration plan and financial outlook suggest the combined company is well-positioned to leverage its expanded fleet, network, and operational capabilities to drive growth and profitability, while also prioritizing debt reduction to strengthen its balance sheet.