Earnings Per Share

3 Months Ended

Dec. 31, 2022

10.

Earnings Per Share

Calculations of net loss per common share attributable to Mesa Air Group were as follows (in thousands, except per share data):


	Three Months Ended December 31,
	2022			2021
Net loss attributable to Mesa Air Group	$	(9,090	)	$	(14,274	)
Basic weighted average common shares outstanding		36,378			35,963
Add: Incremental shares for:
Dilutive effect of warrants		—			—
Dilutive effect of restricted stock		—			—
Diluted weighted average common shares outstanding		36,378			35,963
Net loss per common share attributable to Mesa Air Group:
Basic	$	(0.25	)	$	(0.40	)
Diluted	$	(0.25	)	$	(0.40	)

Basic income or loss per common share is computed by dividing net income or loss attributable to Mesa Air Group by the weighted average number of common shares outstanding during the period.

The number of incremental shares from the assumed issuance of shares relating to restricted stock and exercise of warrants is calculated by applying the treasury stock method. Share-based awards and warrants whose impact is anti-dilutive under the treasury stock method are excluded from the diluted net income or loss per share calculation. In loss periods, these incremental shares are excluded from the calculation of diluted loss per share, as the inclusion of unvested restricted stock and warrants would have an anti-dilutive effect.

The following number of weighted-average potentially dilutive shares were excluded from the calculation of diluted net loss per share because the effect of including such potentially dilutive shares would have been anti-dilutive:


	Three Months Ended December 31,
	2022		2021
Warrants		—		2,215
Restricted stock		—		341
		—		2,556