mesa air group inc shares declined 7 to 462 friday after the commercial aviation holding company was cut to market perform from outperform by raymond james the ratings cut came five days before the mesa is set to post its firstquarter earnings results for the 2022 fiscal year analysts polled by factset expect a loss of 5 million for the first quarter sales are estimated to be 1432 million mesa had sales of 1504 million in the first quarter of 2021 in january the phoenix arizbased company said in december total block hours and total departures increased 38 and 43 respectively shares of mesa are down roughly 36 through the last 12 months