Document:

EX-10.12.3

 Exhibit 10.12.3 
  

 
 [Amendment No. 2 to Credit Agreement] 

AMENDMENT NO. 2 TO CREDIT AGREEMENT 

THIS AMENDMENT NO. 2 TO CREDIT AGREEMENT dated June     , 2017 (this “Amendment”) is
entered into between MESA AIRLINES, INC., (“Mesa”) and MESA AIR GROUP AIRLINE INVENTORY MANAGEMENT, L.L.C., (together with Mesa, the “Borrowers”), MESA AIR GROUP, INC., (the
“Guarantor”) and CIT BANK, NA., a national banking association, as lender and administrative agent (“Administrative Agent”), 

WHEREAS, the Borrowers, Guarantor and the Administrative Agent have entered into that certain Credit and Guaranty Agreement dated as of
August 12, 2016, as amended by Amendment No, 1 to Credit Agreement dated June 5, 2017 (as further amended, supplemented or otherwise modified from time to time, the “Credit Agreement”); and 

WHEREAS, subject to the terms and conditions of this Amendment, the parties hereto have agreed to amend the Credit Agreement as
provided herein. 
 NOW THEREFORE, in consideration of the mutual agreements contained herein, the parties hereto hereby agree as
follows: 
 Section 1.      Waiver of Software License Agreement. 

(a)                  The Administrative Agent hereby
agrees to waive the requirement for a collateral assignment of license agreement to be provided by the Borrowers, pursuant to Article 6.19(c) of the Credit Agreement. 

(b)                  In lieu of this requirement,
the Borrowers hereby agree to provide detailed monthly reporting of all their Spare Parts Inventory. Such monthly report is to be in substantially similar digital form and substance to the example extract report attached here as Exhibit A, and is to
be provided to the Administrative Agent twenty five (25) days after the end of each fiscal month, 

(c)                  Should a Default or Event of
Default have occurred and be continuing, the Administrative Agent is entitled to request, at any frequency and in form and substance satisfactory to the Administrative Agent, additional Spare Parts Inventory data. 

Section 2.      Ratification. Except as expressly amended hereby, each and all
of the terms, provisions and covenants of the Credit Agreement shall remain unchanged and in full force and effect. 

Section 3.      Governing Law. This Amendment shall be governed by, construed
and enforced in accordance with the laws of the state of New York, without regard to choice of law principles. 

Section 4.      Counterparts. This Amendment may be executed in any number of
counterparts and by the different parties hereto on separate counterparts each of which, when so executed, shall be deemed an original, but all such counterparts shall constitute but one and the same instrument. Delivery by telecopier or other
electronic transmission of an executed counterpart of a signature page to this Amendment shall be effective as delivery of an original executed counterpart of this Amendment. 

Section 5.      Severability. The provisions of this Amendment are intended to
be severable. If any provision of this Amendment shall be held invalid or unenforceable in whole or in part in any jurisdiction such provision shall, as to such jurisdiction, be ineffective to the extent of such invalidity or

 [Amendment No. 2 to Credit Agreement] 

 

 
unenforceability without in any manner affecting the validity or enforceability thereof in any other jurisdiction or the remaining provisions hereof in any jurisdiction. 

 [Amendment No. 2 to Credit Agreement] 

 

 IN WITNESS WHEREOF, the parties hereto, by their officers thereunto duly authorized,
have executed and delivered this Amendment as of the date first above written. 
  

			
	MESA AIRLINES, INC.
		
	By:	 	     

	Name:	 	
	Title:	 	
	
	 MESA AIR GROUP AIRLINE

INVENTORY MANAGEMENT, L.L.C.

		
	By:	 	     

	Name:
	Title:
	
	MESA AIR GROUP, INC.
		
	By:	 	
                     
           

	Name:	 	
	Title:
	
	CIT BANK, N.A.
		
	By:	 	     

	Name:	 	
	Title:	 	

 [Amendment No. 2 to Credit Agreement] 

 

 EXHIBIT A 

Example Spare Parts Inventory Report 

REAL_INVTY 
  

											
	Location	  	Bin Location	  	Vendor PIN	  	Desc	  	Part
Type	  	Batch #
	 IAH
	  	INSPECTION	  	4124T90G03	  	ROTOR ASSY-HIGH PRESSURE TUR8	  	R	  	2088582
	 IAH
	  	H BULK	  	1703781A	  	AIR DRIVEN GENERATOR	  	R	  	1822666
	 IAD
	  	HANGAR FLOOR	  	WE3800770-3	  	APU AUX POWER UNIT	  	R	  	2082931
	 PHQ
	  	IHR	  	WE3800770-3	  	APU AUX POWER UNIT	  	R	  	2072699
	 PHX
	  	BULK	  	W63800770-3	  	APU AUX POWER UNIT	  	R	  	2093667
	 EHQ
	  	ENG TRAINING	  	CF34-8C5	  	ENGINE, GE TURBOFAN (CRJ-900)	  	R	  	1709604
	 ERQ
	  	IHR	  	CF34-8C5B1	  	ENGINE, GE TURBOFAN	  	R	  	2058888
		  		  	1701317A	  	GENERATOR, INTEGRATED DRIVE	  	R	  	2091434
	 IAH
	  	H BULK	  	1701317A	  	GENERATOR, INTEGRATED DRIVE	  	R	  	1891785
	 IAH
	  	H BULK	  	415200-1017	  	HORIZONTAL STABILIZER ACTUATOR	  	R	  	1859737
	 IAH
	  	ENGINE SHOP	  	4125T07G09	  	NOZZLE ASSY-STAGE 1 HPT	  	R	  	1991377
	 PHX
	  	21.09-A	  	670BA36006K5	  	KIT, AIR LEAK BLEED	  	K	  	0403922
	 IAH
	  	H BULK	  	1701317A	  	GENERATOR, INTEGRATED DRIVE	  	R	  	1960424
	 IAH
	  	ENGINE SHOP	  	4124T90G03	  	ROTOR ASSY-HIGH PRESSURE TURB	  	R	  	1991399
	 EHQ
	  	IHR	  	CN626-1000-003	  	AFT CORE COWL ASSY	  	A	  	1990862
		  		  	CN626-1000-003	  	AFT CORE COWL ASSY	  	R	  	2080036
	 IAH
	  	ENGINE SHOP	  	CN626-1000-003	  	AFT CORE COWL ASSY	  	R	  	1697279
	 EHQ
	  	ENGINE SHOP	  	CN626-1000-003	  	AFT CORE COWL ASSY	  	R	  	1692725
	 IAD
	  	HANGAR FLOOR	  	CN626-1000-003	  	AFT CORE COWL ASSY	  	R	  	2038880
		  		  	52000-21	  	STRUT ASSY, NLG DRESSED SHOCK	  	R	  	2085973
	 IAH
	  	03.01-C-ESDS	  	HG2100AB02	  	INERTIAL REFERENCE UNIT	  	R	  	1778555
		  		  	52000-9	  	STRUT ASSY, NLG DRESSED SHOCK	  	R	  	2038444
	 PHQ
	  	R1-08-D	  	52000-17	  	STRUT ASSY, NLG DRESSED SHOCK	  	R	  	1658358
	 IAH
	  	ES1	  	4144T59G02	  	HPT STATOR ASSY	  	R	  	2088593
	 EHQ
	  	ENGINE SHOP	  	CF34-3B1	  	ENGINE-G.E (TBS)	  	R	  	1524992
	 EHQ
	  	ENGINE SHOP	  	CF34-3B1	  	ENGINE-G.E (TBS)	  	R	  	1584308
	 PHX
	  	BULK	  	CC670-14002-7	  	ASSY, FLAP VANE INBOARD	  	R	  	2078172
	 IAH
	  	02-01-D-ESDS	  	415300-1005	  	HORIZONTAL STABILIZER ACTUATOR	  	R	  	2079088
	 DFW
	  	BULK-2	  	TY2152-15A	  	ACTUATOR, FEEDBACK	  	R	  	2089508
	 DFW
	  	LINE-BULK	  	TY2152-15A	  	ACTUATOR, FEEDBACK	  	R	  	2073341
	 IAH
	  	INSPECTION	  	415300-1005	  	HORIZONTAL STABILIZER ACTUATOR	  	R	  	2091529
		  		  	1000700-5	  	AIR CYCLE MACHINE	  	R	  	2098422
	 DFW
	  	BULK-2	  	766277B	  	GENERATOR, INTEGRATED DRIVE	  	R	  	2080949
	 PHX
	  	BULK	  	766277B	  	GENERATOR, INTEGRATED DRIVE	  	R	  	2094633

 [Amendment No. 2 to Credit Agreement] 

 

 REAL_INVTY 
  

																							
	Location	  	S/N	  	Last Task	  	PRICE	 	  	EXTDPRICE	 	  	Status	  	 Pending
 (y)
	  	A/c
Installed	  	In transfer	 
	 IAH
	  	RDUC1523	  	REP	  	 	585,000	 	  	 	585,000	 	  		  		  		  	 	0	 
	 IAH
	  	0784	  	NEW	  	 	430,201	 	  	 	430,201	 	  		  		  		  	 	0	 
	 IAD
	  	P-224	  	REP	  	 	394,770	 	  	 	394,770	 	  		  		  		  	 	0	 
	 PHQ
	  	P-431	  	REP	  	 	394,770	 	  	 	394,770	 	  	UNS	  		  		  	 	0	 
	 PHX
	  	P-251	  	REP	  	 	394,770	 	  	 	394,770	 	  		  		  		  	 	0	 
	 EHQ
	  	194480	  	NRA	  	 	351,118	 	  	 	351,118	 	  	UNS	  		  		  	 	0	 
	 EHQ
	  	965468	  	REP	  	 	351,118	 	  	 	351,118	 	  	UNS	  		  		  	 	0	 
		  	2343	  	NEW	  	 	350,000	 	  	 	350,000	 	  	UNS	  		  		  	 	0	 
	 IAH
	  	2409	  	REP	  	 	350,000	 	  	 	350,000	 	  		  		  		  	 	0	 
	 IAH
	  	00362	  	INS	  	 	349,729	 	  	 	349,729	 	  		  		  		  	 	0	 
	 IAH
	  	JMM2447A	  	REP	  	 	349,428	 	  	 	349,428	 	  		  		  		  	 	0	 
	 PHX
	  		  	NEW	  	 	22,501	 	  	 	337,520	 	  		  		  		  	 	0	 
	 IAH
	  	0670	  	OVH	  	 	312,738	 	  	 	312,738	 	  		  		  		  	 	0	 
	 IAH
	  	RDUC1291	  	REP	  	 	306,360	 	  	 	308,360	 	  		  		  		  	 	0	 
	 EHQ
	  	SB/0758	  	NEW	  	 	290,715	 	  	 	290,715	 	  	UNS	  		  		  	 	0	 
		  	SB/0285	  	NEW	  	 	290,715	 	  	 	290,715	 	  	UNS	  		  		  	 	0	 
	 IAH
	  	SB0503	  	RFO	  	 	290,715	 	  	 	290,715	 	  		  		  		  	 	0	 
	 EHQ
	  	SB/0063	  	REP	  	 	290,715	 	  	 	290,715	 	  	UNS	  		  		  	 	0	 
	 IAD
	  	SB0748	  	REP	  	 	290,715	 	  	 	290,715	 	  		  		  		  	 	0	 
		  	MA1055	  	REP	  	 	287,500	 	  	 	287,500	 	  	UNS	  		  		  	 	0	 
	 IAH
	  	56070996	  	REP	  	 	272,791	 	  	 	272,791	 	  		  		  		  	 	0	 
		  	MA1008	  	OVH	  	 	260,833	 	  	 	260,833	 	  	UNS	  		  		  	 	0	 
	 PHQ
	  	MA0130	  	NRA	  	 	260,833	 	  	 	260,833	 	  	UNS	  		  		  	 	0	 
	 IAH
	  	RDUD1505	  	REP	  	 	251,232	 	  	 	251,232	 	  		  		  		  	 	0	 
	 EHQ
	  	807105C	  	INS	  	 	250,000	 	  	 	250,000	 	  	UNS	  		  		  	 	0	 
	 EHQ
	  	807108C	  	UNK	  	 	250,000	 	  	 	250,000	 	  	UNS	  		  		  	 	0	 
	 PHX
	  	15274	  	REP	  	 	247,300	 	  	 	247,300	 	  		  		  		  	 	0	 
	 IAH
	  	30378	  	REP	  	 	240,178	 	  	 	240,178	 	  		  		  		  	 	0	 
	 DFW
	  	477	  	INS	  	 	233,374	 	  	 	233,374	 	  		  		  		  	 	0	 
	 DFW
	  	821	  	INS	  	 	233,374	 	  	 	233,374	 	  		  		  		  	 	0	 
	 IAH
	  	4034	  	REP	  	 	226,968	 	  	 	226,968	 	  		  		  		  	 	0	 
		  	2013100026	  	NEW	  	 	221,632	 	  				  	UNS	  		  		  	 	0	 
	 DFW
	  	0962	  	OVH	  	 	218,516	 	  	 	218,616	 	  		  		  		  	 	0	 
	 PHX
	  	0402	  	OVH	  	 	218,307	 	  	 	218,307	 	  		  		  		  	 	0	 

 [Amendment No. 2 to Credit Agreement] 

 

 REAL_INVTY 
  

													
	Location	 	In repair	 	Avl Qty	  	A/C Type	  	A/C Series	  	Owner Code	  	CHAPTER NO, PARENT SIN
	 IAH
	 	0	 	1	  	CRE5	  	795	  		  	72
	 IAN
	 	0	 	1	  	EMB	  	175	  	AAR3	  	24
	 IAD
	 	0	 	1	  	CRJ	  	079	  	AAR2	  	49
	 PHQ
	 	0	 	1	  	CRJ	  	079	  	AAR2	  	49
	 PHX
	 	0	 	1	  	CRJ	  	079	  	AAR2	  	49
	 EHQ
	 	0	 	1	  	CRJ	  	900	  		  	72
	 EHQ
	 	0	 	1	  	CRJ	  	700	  		  	72
		 	1	 	0	  	EMB	  	175	  	AAR3	  	24
	 IAH
	 	0	 	1	  	EMB	  	175	  	AAR3	  	24
	 IAH
	 	0	 	1	  	EMB	  	175	  	AAR3	  	27
	 IAH
	 	0	 	1	  	CRJ	  	079	  		  	72
	 PHX
	 	0	 	15	  	CRJ	  	900	  		  	38
	 IAH
	 	0	 	1	  	EMB	  	175	  	AAR3	  	24
	 IAH
	 	0	 	1	  	CRE6	  	795	  		  	72
	 EHQ
	 	0	 	1	  	CRJ	  	079	  		  	72
		 	1	 	0	  	CRJ	  	079	  		  	72
	 IAH
	 	0	 	1	  	CRJ	  	079	  		  	72
	 EHQ
	 	0	 	1	  	CRJ	  	079	  		  	72
	 IAD
	 	0	 	1	  	CRJ	  	079	  		  	72
		 	1	 	0	  	CRJ	  	079	  		  	32
	 IAH
	 	0	 	1	  	EMB	  	178	  	AAR3	  	34
		 	1	 	0	  	CRJ	  	900	  		  	32
	 PHQ
	 	0	 	1	  	CRJ	  	700	  		  	32
	 IAH
	 	0	 	1	  	CRJ	  	795	  		  	72
	 EHQ
	 	0	 	1	  	CRJ	  	200	  		  	72
	 EHQ
	 	0	 	1	  	CRJ	  	200	  		  	72
	 PHX
	 	0	 	1	  	CRJ	  	279	  		  	27
	 IAH
	 	0	 	1	  	EMB	  	175	  	AAR3	  	27
	 OFW
	 	0	 	1	  	CRJ	  	079	  	AAR1	  	78
	 OFW
	 	0	 	1	  	CRJ	  	079	  	AAR1	  	78
	 IAH
	 	0	 	1	  	EMB	  	175	  	AAR3	  	27
		 	1	 	0	  	EMB	  	175	  		  	21
	 DFW
	 	0	 	1	  	CRJ	  	079	  		  	24
	 PHX
	 	0	 	1	  	CRJ	  	079	  	AAR2	  	24EX-10.12.4

 Exhibit 10.12.4 

[Amendment No, 3 to Credit Agreement] 

AMENDMENT NO. 3 TO CREDIT AGREEMENT 

THIS AMENDMENT NO. 3 TO CREDIT AGREEMENT dated             
2017 (this “Amendment”) is entered into between MESA AIRLINES, INC., (“Mesa”) and MESA AIR GROUP AIRLINE INVENTORY MANAGEMENT, L.L.C., (together with Mesa, the
“Borrowers”), MESA AIR GROUP, INC,; (the “Guarantor”) and CIT BANK, N.A., a national banking association, as lender and administrative agent (“Administrative
Agent”). 
 WHEREAS, the Borrowers, Guarantor and the Administrative Agent have entered into that certain
Credit and Guaranty Agreement dated as of August 12, 2016, as amended by Amendment No. 1 to Credit Agreement dated June 5, 2017, as amended by Amendment No. 2 to Credit Agreement dated June 27, 2017 (and as further amended,
supplemented or otherwise modified from time to time, the “Credit Agreement”); and 
 WHEREAS,
subject to the terms and conditions of this Amendment, the parties hereto have agreed to amend the Credit Agreement as provided herein, 

NOW THEREFORE, in consideration of the mutual agreements contained herein, the parties hereto hereby agree as follows:

 Section 1.          Definitions. Tends
used but not defined herein shall have the respective meanings ascribed to such terms in the Credit Agreement. 

Section 2.          Amendment to Article 1.01
of the Credit Agreement. The definition of “Borrowing Base Certificate Date” will be deleted in its entirety and replaced with the following: 

““Borrowing Base Certificate Date” means (a) the date twenty five (25) days after the end of each fiscal month,
(b) each date (limited to once per calendar month) a Borrowing is made in connection with the purchase of (i) any Eligible Spare Engines or (ii) any Eligible Spare Parts Inventory in a single transaction with an aggregate purchase
price in excess of $1,000,000, or (c) the date of any Disposition (or more frequently as requested by the Administrative Agent following an Event of Default).” 

Section 3.          Amendment to Article 2.05(b)(ii) of the
Credit Agreement. Article 2.05(b)(ii) of the Credit Agreement will be deleted in its entirety and replaced with the following: 

“(ii) Dispositions and Involuntary Dispositions. The Borrowers shall prepay the Revolving Loans and thereafter, all other
Obligations, promptly following the occurrence of any Disposition or Involuntary Disposition that results in a Borrowing Base Deficiency, in an aggregate amount necessary to reduce such Borrowing Base Deficiency to zero (each such prepayment to be
applied as set forth in clause (v) below) excluding the proceeds of any voluntary Disposition described in clause (i) of Section 7.05.” 

Section 4.          Amendment to Article 6.01(c) of the Credit
Agreement. Article 6.01(c) of the Credit Agreement is amended by adding the words “(but only with respect to the First, Second and Third Fiscal Quarters )” following the words “Concurrently with any delivery under clause
(a) or (b)”. 

 [Amendment No, 3 to Credit Agreement] 

 

Section 5.          Amendment to Article 6.02(g) of the Credit
Agreement. Article 6.02(g) of the Credit Agreement will be deleted in its entirety and replaced with the following: 

“(g)    Borrowing Base Certificate. No later than each Borrowing Base Certificate Date, a
Borrowing Base Certificate in accordance with Section 6.21. In the event that the figures in the Borrowing Base Certificate do not reconcile with the final Appraisal figures referred to in Section 6,02(h), the Borrowers will provide a
revised Borrowing Base Certificate together with the Appraisals;” 

Section 6.          Amendment to Article 6,02(h) of the Credit
Agreement. Article 6.02(h) of the Credit Agreement will be deleted in its entirety and replaced with the following: 

“(h)    Appraisals. Within (i) thirty (30) days after the end of each Fiscal Quarter
ending each June 30 and December 31, a physical Appraisal completed by the Appraiser as of the end of such Fiscal Quarter for all Eligible Spare Engines and Eligible Spare Parts Inventory, in form and substance reasonably acceptable to the
Administrative Agent and (ii) thirty (30) days after the end of each Fiscal Quarter ending each March 31 and September 30 only, a desktop Appraisal completed by the Appraiser as of the end of such Fiscal Quarter for all Eligible Spare
Engines and Eligible Spare Parts Inventory, in form and substance reasonably acceptable to the Administrative Agent; and” Amendment to Article 6.21 of the Credit Agreement. The first sentence of Article 6.21 of the Credit Agreement shall
be deleted in its entirety. 
 Section 8.          Amendment
to Article 7,05 of the Credit Agreement. Article 7.05 of the Credit Agreement will be deleted in its entirety and replaced with the following: 

“7.05 Dispositions. Except to the extent otherwise perniitted in the Security Agreement, no Borrower will, nor
will any Borrower permit any Subsidiary or any other Person acting by, through or under it to, sell, transfer, lease or dispose of any of the Collateral without the prior written consent of the Administrative Agent, which consent may be withheld in
the Administrative Agent’s sole discretion. Notwithstanding the foregoing or anything to the contrary set forth in the Security Agreement, the Borrowers shall be permitted to sell, transfer and dispose of (i) Collateral not constituting
Eligible Spare Parts, Platform Spare Parts or Eligible Spare Engines, (ii) Collateral consisting of Eligible Spare Parts or Platform Spare Parts in an amount up to $250,000 per calendar month, and (iii) Collateral consisting of Eligible
Spare Engines, in each case, without the consent of the Administrative Agent and without penalty, and solely with respect to clauses (ii) and (iii) above, so long as the Net Cash Proceeds from such sales are used to prepay the Loans in
accordance with Section 2,05(b) of this Agreement.” 

Section 9.          Ratification. Except as expressly
amended hereby, each and all of the turns, provisions and covenants of the Credit Agreement shall remain unchanged and in full force and effect. 

Section 10.        Governing Law. This Amendment shall be governed
by, construed and enforced in accordance with the laws of the state of New York, without regard to choice of law principles. 

 [Amendment No, 3 to Credit Agreement] 

 

Section 11.        Counterparts. This Amendment may be executed in any
number of counterparts and by the different parties hereto on separate counterparts each of which, when so executed, shall be deemed an original, but all such counterparts shall constitute but one and the same instrument. Delivery by telecopier or
other electronic transmission of an executed counterpart of a signature page to this Amendment shall be effective as delivery of an original executed counterpart of this Amendment. 

Section 12.        Severability. The provisions of this Amendment are
intended to be severable. If any provision of this Amendment shall be held invalid or unenforceable in whole or in part in any jurisdiction such provision shall, as to such jurisdiction, be ineffective to the extent of such invalidity or
unenforceability without in any manner affecting the validity or enforceability thereof in any other jurisdiction or the remaining provisions hereof in any jurisdiction. 

 [Amendment No, 3 to Credit Agreement] 

 

 IN WITNESS WHEREOF, the parties hereto, by their officers thereunto duly authorized, have
executed and delivered this Amendment as of the date first above written. 
  

			
	MESA AIRLINES, INC.    
		
	By:	 	     

			
	Name:	 	    
	Tittle:	 	    
	
	MESA AIR GROUP AIRLINE    
	INVENTORY MANAGEMENT, L.L.C.    

 
			
		
	By:	 	     

			
	Name:	 	    
	Tittle:	 	    

 
			
	
	MESA AIR GROUP, INC.    
		
	By:	 	     

			
	Name:	 	    
	Tittle:	 	    

 
			
	
	CIT BANK, N.A.    
		
	By:	 	
                     
   

 
			
	Name:	 	    
	Tittle:

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