Along with all the other emails in my box this morning was an SEC alert on Mesa Air Group.

The airline says in the filing that if it loses in its effort to keep the Delta Air Lines’ contract in effect with its subsidiary Freedom Airlines, that it could be forced to seek bankruptcy protection. This shouldn’t come as a surprise to many folks — if you can simply do the math concerning the business that Mesa is slated to lose as a result of losing the contract.

As we reported here last month, a hearing on the matter is now scheduled to be heard beginning next week in Federal District Court in Atlanta.

I think the deal here is now pretty clear. If the judge agrees that Delta had the right to cancel the contract for just cause, Mesa will have no choice and will probably be forced into bankruptcy.

Ticker: (MESA:Nasdaq)

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