Posted at 12:11 p.m., Tuesday, April 17, 2007
Mesa Air shares fall 10 percent after stock downgrade
Advertiser Staff
Mesa Air Group stock fell 10 percent today after an airline industry analyst downgraded the company's stock due to higher maintenance costs.Mesa, which owns local interisland carrier go!, closed at $7.20 on on the Nasdaq stock market, down 80 cents from Monday's close.
In a recent research report, Calyon Securities Ray Neidl lowered his rating for Mesa to "neutral" from "add," saying Mesa's is under heavy pressure over its United Airlines' contract performance following flight cancellations beyond its control. Neidl also said Mesa's fleet is demanding higher maintenance costs.
