Earnings Per Share

3 Months Ended

Dec. 31, 2023

Calculations of net income/(loss) per common share were as follows (in thousands, except per share amounts):


	Three Months Ended March 31,					Six Months Ended March 31,
	2024		2023			2024			2023
Net income/(loss)	$	11,660	$	(35,122	)	$	(46,190	)	$	(44,211	)
Basic weighted average common shares outstanding		41,068		39,932			41,004			38,135
Diluted weighted average common shares outstanding		41,068		39,932			41,004			38,135
Net income/(loss) per common share attributable to Mesa Air Group:
Basic	$	0.28	$	(0.88	)	$	(1.13	)	$	(1.16	)
Diluted	$	0.28	$	(0.88	)	$	(1.13	)	$	(1.16	)

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 approximately 600 thousand unvested restricted shares and 4.9 million warrants would have an anti-dilutive effect.