Mesa Air Group

(MESA) - Get Report

Monday said passenger traffic surged in November from a year ago.

The Phoenix-based regional airline company said revenue passenger miles, an industry demand metric, jumped 42.4% last month vs. November 2003. Supply, measured in available seat miles, increased 35.7%.

With demand outpacing supply, Mesa was better able to fill its planes. Its load factor, which measures the percentage of seats filled, was 71.0%, up from 67.7% a year earlier.

Mesa shares were off 3 cents, or 0.4%, at $7.67. Shares of most airline companies were lower Monday, with the Amex Airline Index down 0.9%.

The company operates Mesa Airlines and also operates regional flights for

America West

( AWA) and United Airlines' parent

UAL

(UALAQ.OB)

Although demand at many carriers is rising, it's not necessarily leading to higher revenue. Industry overcapacity and fierce price competition have made it difficult for airlines to raise ticket prices.

Last week,

Continental Airlines

(CAL) - Get Report

said unit revenue was flat to slightly higher in November, an indication the hypercompetitive environment continues. The industry pays close attention to Continental's revenue figures because it's the only major U.S. figure to release unit revenue along with its traffic results.