Mesa Air, Investors Get Preliminary OK to Settle On Upkeep Woes

A $5 million settlement to resolve class claims that Mesa Air Group misled investors in public statements about its plane-maintenance capacity has gotten initial court approval.

The proposal will likely be found fair, reasonable, and adequate, Judge Michael T. Liburdi said Oct. 28 for the US District Court for the District of Arizona.

The $5 million fund would include attorneys’ fees, administration expenses, and other costs, according to the agreement.

The investors accuse the regional carrier of misleading them about aircraft maintenance in its initial public offering, according to an earlier opinion of the court. Ultimately, its inability to ...