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Earnings Per Share and Equity | 6 Months Ended
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Mar. 31, 2021
Earnings Per Share [Abstract] |
Earnings Per Share and Equity |
9. | Earnings Per Share and Equity
Calculations of net income per common share attributable to Mesa Air Group were as follows (in thousands, except per share data):
|  | Three Months Ended March 31, |  |  | Six Months Ended March 31, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Net income attributable to Mesa Air Group |  | $ | 5,689 |  |  | $ | 1,885 |  |  | $ | 19,807 |  |  | $ | 12,670 |
Basic weighted average common shares outstanding |  |  | 35,628 |  |  |  | 35,141 |  |  |  | 35,579 |  |  |  | 35,082 |
Add: Incremental shares for: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dilutive share adjustment - UST Warrant |  |  | 3,038 |  |  |  | — |  |  |  | 2,183 |  |  |  | 138 |
Dilutive share adjustment - Restricted Shares |  |  | 766 |  |  |  | 124 |  |  |  | 620 |  |  |  | — |
Diluted weighted average common shares outstanding |  |  | 39,432 |  |  |  | 35,265 |  |  |  | 38,382 |  |  |  | 35,220 |
Net income per common share attributable to Mesa Air Group: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.16 |  |  | $ | 0.05 |  |  | $ | 0.56 |  |  | $ | 0.36 |
Diluted |  | $ | 0.14 |  |  | $ | 0.05 |  |  | $ | 0.52 |  |  | $ | 0.36 |
Basic income per common share is computed by dividing net income attributable to Mesa Air Group by the weighted average number of common shares outstanding during the period. The number of incremental shares from the assumed issuance of shares relating to restricted stock and exercise of warrants (excluding warrants with a nominal conversion price) is calculated by applying the treasury stock method. Share-based awards and warrants whose impact is considered to be anti-dilutive under the treasury stock method were excluded from the diluted net income or loss per share calculation. In loss periods, these incremental shares are excluded from the calculation of diluted loss per share, as the inclusion of unvested restricted stock and warrants would have an anti-dilutive effect. There were no anti-dilutive shares relating to restricted stock and exercise of warrants that were excluded from the calculation of diluted loss per share for the three and six months ended March 31, 2021 and 2020.

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