(Reuters) – Mesa Air Group will sell 18 Embraer aircraft to United Airlines for about $229.1 million and use the proceeds to cut debt, the regional airline operator said on Tuesday.
Shares of Mesa, the parent company of Mesa Airlines, rose more than 10% before the bell.
Most of the aircraft of the Phoenix, Arizona-based company are operated under an agreement with United, where they fly under the United Express brand.
Mesa completed the sale of eight of the 18 aircraft on Dec. 31 and…
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