Mesa Air Group Discloses Notice from Nasdaq
January 09 2024 - 4:15PM
Mesa Air Group, Inc. (NASDAQ: MESA) (“Mesa” or the “Company”) today
announced that it received a notice (“Notice”) on January 4, 2024
from the Listing Qualifications Department of The Nasdaq Stock
Market (“Nasdaq”) stating that the Company is not in compliance
with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”) because
the Company failed to timely file its Annual Report on Form 10-K
for the period ended September 30, 2023 (the “Form 10-K”) with the
Securities and Exchange Commission. The filing delay is not
the result of a forthcoming restatement of the Company’s financial
statements or any disagreement with the Company’s auditors.
The Notice has no immediate effect on the
listing or trading of the Company’s securities on the Nasdaq Global
Select Market. The Notice states that the Company has 60 calendar
days from the date of the Notice, or October 16, 2023, to submit a
plan to regain compliance with the Listing Rule. If Nasdaq accepts
the Company’s plan to regain compliance, then Nasdaq may grant the
Company up to 180 calendar days from the prescribed due date of the
Form 10-K, or June 26, 2024, to file the Form 10-K to regain
compliance.
The Company continues to work diligently to
complete the Form 10-K and plans to file the Form 10-K well in
advance of the 60-day Notice period, expected this week, to regain
compliance with the Listing Rule.
This announcement is made in compliance with
Nasdaq Listing Rule 5810(b), which requires prompt disclosure of
receipt of a deficiency notification.
About Mesa Air Group, Inc.
Headquartered in Phoenix,
Arizona, Mesa Air Group, Inc. is the holding company
of Mesa Airlines, a regional air carrier providing scheduled
passenger service to 89 cities in 40 states, the District of
Columbia, the Bahamas, Canada, Cuba,
and Mexico as well as cargo services out
of Cincinnati/Northern Kentucky International Airport. As
of June 30, 2023, Mesa operated a fleet of 80 aircraft, with
approximately 277 daily departures, and four 737 cargo aircraft.
The Company had approximately 2,341 employees. Mesa operates all
its flights as either United Express or DHL Express flights
pursuant to the terms of a capacity purchase agreement entered into
with United Airlines, Inc. and a flight service agreement
with DHL.
Important Cautions Regarding Forward-Looking
Statements
This Press Release includes information that
constitutes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. Words such
as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”,
“believe”, “may”, “might”, “will”, “should”, “can have”, “likely”
and similar expressions are used to identify forward-looking
statements. These forward-looking statements are based on the
Company’s current beliefs, assumptions, and expectations regarding
future events, which in turn are based on information currently
available to the Company. By their nature, forward-looking
statements address matters that are subject to risks and
uncertainties. A variety of factors could cause actual events and
results to differ materially from those expressed in or
contemplated by the forward-looking statements. These factors
include, without limitation, the Company’s ability to respond in a
timely and satisfactory matter to the inquiries by Nasdaq, the
Company’s ability to regain compliance with Listing Rule, the
Company’s ability to become current with its reports with the SEC,
and the risk that the completion and filing of the Form 10-K will
take longer than expected. For additional information about factors
that could cause actual results to differ materially from those
described in the forward-looking statements, please refer to the
Company’s filings with the SEC, including the risk factors
contained in its most recent Annual Report on Form 10-K and the
Company’s other subsequent filings with the SEC. The Company
undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise, except to the extent required by
applicable laws.
Contact:Mesa Air Group, Inc.
Mediamedia@mesa-air.com Investor
Relationsinvestor.relations@mesa-air.com
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