CIT Provides $35MM Financing for Mesa Airlines

CIT Aerospace, Defense & Government Finance provided a $35 million senior secured credit facility to Mesa Airlines, a provider of regional air service for American Airlines and United Airlines.

Mesa Airlines is the fourth-largest independent regional carrier in the U.S. The financing supports the refinancing of existing debt and provides working capital. Financing was provided by CIT Bank. Terms of the transaction were not disclosed. CIT Treasury Management is also providing cash management services to Mesa Airlines.

“We are an airline that is growing rapidly, having added multiple aircraft to our fleet over the last few years,” said Michael Lotz, president and CFO of Mesa Airlines. “We knew we would appreciate CIT’s experience and comfort with lending to the commercial aerospace sector given their track record and heritage in the sector. We are further pleased that CIT was able to offer us treasury management services, which will help us maximize our liquidity and effectively utilize our deposits.”

“The large regional jets operated by Mesa are ideally suited to today’s independent regional carrier environment and the needs of the airlines Mesa supports, positioning Mesa for further growth,” said John Heskin, director of CIT Aerospace, Defense & Government Finance. “We are glad we had the opportunity to apply our aerospace financing expertise in providing this facility to Mesa, and further pleased that we were able to offer Mesa a treasury management solution that will help them optimize their cash flow. These financial solutions will support Mesa’s continued operational success as well as its anticipated growth.”

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Terry Mulreany
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