The US regional carrier Mesa Airlines released a statement to investors in which it revealed a contract to sell 18 Embraer E175 aircraft to United Airlines.
The 76-seat jets are used on flights for the major carrier, its client, and are expected to raise $229.1 million that will be used to pay down Mesa’s debts with the US Treasury.
The deal was closed on December 31, but was only announced on January 8. According to Mesa, approximately $142 million will be paid off associated debt.
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The first part of the deal was completed on the same day with the sale of eight E175s that generated net revenue of $35.8 million.
The remaining 10 aircraft are expected to be sold by Jan. 31, but Mesa and United could delay a definitive deal depending on the terms.
The Phoenix, Arizona-based carrier had already negotiated 15 CRJ-900s airframes with third parties on Dec. 24, raising $19 million.
Mesa Air’s fleet currently includes 13 retired CRJ-900s, and 60 E175s. The deals will reduce its fleet to just 42 Embraer jets, which are part of the United Express network.
