Mesa Sheds Aircraft Leases To Exit Ch. 11

Law360, New York (March 1, 2011, 10:00 PM EST) -- Phoenix-based airline Mesa Air Group Inc. emerged from bankruptcy Tuesday after eliminating costly excess aircraft leases and restructuring as a private company during its 13 months in Chapter 11 protection.

The regional airline's reorganization plan became effective Tuesday, making the Mesa bankruptcy one of the fastest reorganizations in aviation history, according to the carrier.

"Today marks a new beginning for Mesa, one that allows the company to build on its almost 30-year history and re-establish ourselves as one of the world's leading regional airlines," Mesa CEO...
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