Mesa Air Group could raise up to $172 million before fees from its initial public offering (IPO).

The Phoenix-based regional carrier commenced the IPO for 10.7 million shares priced from $14-16 per share on 30 July, securities filings show.

Mesa will use proceeds from the IPO to repay debt, pay listing fees and for general corporate purposes.

The offering marks a return by Mesa to public markets after it was delisted in 2011 following a Chapter 11 bankruptcy restructuring.

Raymond James and Bank of America Merrill Lynch are lead bookrunning managers of the IPO. Cowen, Stifel and Imperial Capital are bookrunning managers.

Mesa operated 144 aircraft, including 20 Bombardier CRJ700s, 64 Bombardier CRJ900s and 60 Embraer 175s, under contracts with American Airlines and United Airlines at the end of March.

Source: Cirium Dashboard