Mesa Air Group, Inc. (fka MESAQ)

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What a drop, http://finance.yahoo.com/q/bc?s=MESA&t=5d&l=on&z=m&q=l&c
Mesa Air Group reported a nearly 21 percent decrease in the number of passengers it carried in March.

Phoenix-based Mesa (Nasdaq: MESA) carried 1.18 million passengers in March compared to 1.49 million in March 2007, according to statistics released Thursday.

Mesa's load factor for the month was down 3.2 percentage points, from 78.6 percent to 75.4 percent due to a decline in available seat miles, down 13.7 percent to 691,147 as compared to March 2008.

Year to date, Mesa's load factor is down to 71.5 percent.

Revenue passenger miles were down 17 percent to 521,749.

A revenue passenger mile measures one paying passenger flown one mile, while an available seat miles refers to the number of seats available and number of miles flown.

In Hawaii, Mesa's go! airlines boarded 54,504 passengers and had a load factor of 67.8 percent, compared to 63.9 percent in March 2007.

CEO Jonathan Ornstein said in a press release that the go! operations did well for the month, with only one cancellation and an 89 percent on-time performance.