MESA AIR GROUP INC — Director's Dealing 2009

Feb 17, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: MESA AIR GROUP INC (MESA)
CIK: 0000810332
Period of Report: 2009-02-12

Reporting Person: GOLDMAN SACHS GROUP INC (10% Owner)
Reporting Person: GOLDMAN SACHS & CO (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-02-12	Common Stock, No Par Value	P	528900	$0.0486	Acquired	14751556	Indirect
2009-02-12	Common Stock, No Par Value	S	3141000	$0.0461	Disposed	11610556	Indirect
2009-02-13	Common Stock, No Par Value	P	7000	$0.0415	Acquired	11617556	Indirect
2009-02-13	Common Stock, No Par Value	S	1508200	$0.0403	Disposed	10109356	Indirect

Footnotes

F1: This statement is being filed by The Goldman Sachs Group, Inc. ("GS Group") and Goldman, Sachs & Co. ("Goldman Sachs", and
together with GS Group, the "Reporting Persons"). The securities reported herein as indirectly purchased or sold were
beneficially owned directly by Goldman Sachs. Without admitting any legal obligation, Goldman Sachs will remit appropriate
profits, if any, to Mesa Air Group, Inc. (the "Company"). Goldman Sachs is a wholly-owned subsidiary of GS Group.

F2: Reflects the purchase of 528,900 shares of the Comany's common stock, no par value per share (the "Common Stock") by Goldman
Sachs at a weighted average purchase price of $0.0486 per share, at prices ranging from $0.0400 to $0.0605 per share.

F3: Reflects the sale of 3,141,000 shares of Common Stock by Goldman Sachs at a weighted average sale price of $0.0461 per share,
at prices ranging from $0.0400 to $0.0605 per share.

F4: Reflects the purchase of 7,000 shares of Common Stock by Goldman Sachs at a weighted average purchase price of $0.0415 per
share, at prices ranging from $0.0401 to $0.0499 per share.

F5: Reflects the sale of 1,508,200 shares of Common Stock by Goldman Sachs at a weighted average sale price of $0.0403 per share,
at prices ranging from $0.0400 to $0.0499 per share.

F6: The Reporting Persons will provide, upon request by the staff of the Securities and Exchange Commission (the "Commission"),
the Company, or a security holder of the Company, full information regarding the number of shares purchased or sold at each
separate price.

F7: Goldman Sachs beneficially owns directly and GS Group may be deemed to beneficially own indirectly 10,109,356 shares of
Common Stock. Each of Goldman Sachs and GS Group disclaims beneficial ownership of the securities reported herein except to
the extent of its pecuniary interest therein.

F8: As of February 13, 2009, the Reporting Persons ceased to beneficially own more than 10% of the shares of Common Stock
outstanding per the information reported in the Company's Current Report on Form 8-K filed with the Commission on February
12, 2009, and are therefore no longer subject to Section 16 of the Securities Exchange Act of 1934, as amended.