Mesa Airlines shareholders will vote later this month on the carrier’s proposed merger with Republic Airways.
In a statement released last week, Mesa set the vote for Nov. 17. If the deal is approved as expected, it will close two days later, on Nov. 19.
Republic’s shareholders have already approved the merger.
Republic and Mesa first announced plans to merge in April.
According to a recent prospectus filed with the Securities and Exchange Commission, Mesa will be the surviving corporate entity, though it will take the Republic Airways name. Pre-merger Republic shareholders will own 88% of outstanding shares, while pre-merger Mesa shareholders will hold 6% of the outstanding shares. The remaining 6% of shares will be held in an escrow account for delivery to Mesa investors.
The carriers will continue operating flights for their current partners. Republic has service agreements with United, Delta, and American, while Mesa works only with United, flying as United Express.
Based on the two carriers’ most recent earnings reports, the combined company would have 12-month run-rate annual revenue between $1.8 billion and $2 billion, according to Mesa officials.
