Mesa Air Group (NASDAQ: MESA) reported Q3 EPS of $0.10, $0.36 better than the analyst estimate of ($0.26). Revenue for the quarter came in at $73.1 million versus the consensus estimate of $80.21 million.

"Given the difficult operating environment, we are extremely pleased to be reporting both a profit and positive cash flow. We believe this is the result of our relentless focus on low costs and reliable operations, the construct of our agreements with our major partners, and the dedication and hard work of all our employees," said Jonathan Ornstein, Mesa Air Group Chairman and Chief Executive Officer. "While we believe there are significant opportunities ahead, there remain COVID-19 related challenges; our fleets continue to be utilized below 60%, aircraft financing has become more difficult, and the recovery time projected for demand to return to pre-COVID-19 levels."

"In addition to operating profitably, we operated the quarter without any controllable cancellations," said Brad Rich, Executive Vice President and Chief Operating Officer. "Working together with our partners and regulatory authorities, we remain committed to the highest level of safety for our passengers and employees. I would like to thank all of our employees for an outstanding job."

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