Mesa Air Enters Agreement With London Based Gramercy Associates for European Joint Venture
U.S. regional carrier Mesa Air has entered into a conditional agreement with London-based Gramercy Associates Limited to develop a European joint venture. The Joint venture will apply for a new Air Operator’s Certificate using CRJ 900 aircraft.
On Tuesday (March 2, 2021), Phoenix, Arizona-based U.S. regional carrier Mesa Air announced that they will pursue international growth via a joint venture (JV) with London-based Gramercy Associates Limited. The JV will apply for a new Air Operators Certificate (AOC) in the European Union using CRJ-900 aircraft, with the goal of offering a capacity purchase agreement or ACMI (Aircraft, Crew, Maintenance, Insurance) in European passenger or cargo services. Gramercy Associates Limited is led by Tony Davis, former CEO of Tiger Airways and bmibaby.
In Tuesday’s announcement, Mesa Air Group’s Chairman and Chief Executive Officer, Jonathan Ornstein, said,
“We are very excited at the potential to expand our regional business overseas. As Mesa continues to diversify, we are looking forward to working with Gramercy on this new European venture.”
Also commenting on the new joint venture, Gramercy Associates’ Managing Director, Tony Davis, added, “We are looking forward to teaming up with Mesa to help bring the CPA and ACMI models that have been so successful in the US to Europe.”
Under the JV agreement, Mesa Air Group will own 49 percent of the partnership once the Air Operators Certificate is obtained and the partners plan on launching operations by the end of 2021.
Phoenix Arizona-based Mesa Air Group, Inc. (NASDAQ: MESA) is the holding company of Mesa Airlines which offers scheduled service to 114 cities in 39 states, Washington D.C., the Bahamas, Canada and Mexico as well as cargo services out of Cincinnati/Northern Kentucky International Airport. As of January 31st, 2021, the carrier operated around 393 daily departures with a fleet of 159 aircraft. The company currently has approximately 3,200 employees. Mesa Air operates flights as American Eagle, United Express or DHL Express, pursuant to capacity purchase agreements with the mainline passenger and cargo carriers.
Headquartered in London, Gramercy Associates limited is an aviation consultancy and advisory business that has worked with airlines and industry-related businesses worldwide. The company is led by Tony Davis, the former CEO of Tiger Airways and bmibaby and previous COO for Irelandia Aviation Ltd.
Source: Mesa Air Group