USA Today’s Today in the Sky blog is reporting that Mesa Airlines has filed (voluntarily) for bankruptcy reorganization today.  Read the story HERE.

I can’t say that I find this surprising in any big way.  Their financial situation has been somewhat dire for a while and their stock prices positively abysmal.   In many respects, Mesa is the perfect example of  a company that is rough on its employees, rough on its customers and abrasive in its own PR.   That really isn’t a recipe for success in *any* industry.

Mesa operates flights for Delta, United, US Airways and under their own grand in Hawaii as go! airlines in partnership with Mokulele.   They fly the CRJ100/200 (47 aircraft), the CRJ700/900 (58 aircraft) and the Dash 8-200 (12 aircraft).  With a desire to shed aircraft from their fleet, my guess is that they’re wanting to rid themselves primarily of the CRJ100/200 aircraft primarily and mostly by breaking leases.

It’s also notable that both United and Delta have worked to end their relationship(s) with Mesa and Mesa is currently in litigation with Delta over the attempt to break the Delta contract.  The Delta contract was operated by Mesa subsidiary using ERJ-145 aircraft (numbering 34) and Delta sought to terminate the contract on the basis of poor performance by Mesa.  Mesa contends the real motivation behind breaking the contract was to cut capacity rather than performance. 

With this new development, I do wonder if Mesa hasn’t just become a candidate for being purchased by another airline.

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The Dallas Morning News Airline Biz Blog has THIS story on Continentals’ new CEO, Jeff Smisek, deciding to give up his salary (and other bonus compensation) until Continental earns a full year profit.  Smisek is not asking anyone else to give up their salary but is doing this as a good faith investment turning Continental around and setting an example for its employees.

While some are already calling this window dressing since Continental is set to earn some kind of profit in 2010, I think that is a very cynical viewpoint.  Smisek is setting an excellent example for Continental employees and continuing a kind of tradition in that area that dates back to Gordon Bethune’s tenure as CEO.  In addition, he *is* going to give up that compensation, at the least, for probably 12 months and that is probably compensation worth in excess of $1 million.  No one does that as just a stunt.  Particularly when other airline CEOs are likely going to be earning well in excess of that for the next year.

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