Mesa Airlines at risk of de-listing from US stock exchange

Mesa Air Group recently received notice it is at risk of being de-listed from the US stock exchange due to continued delays in reporting its fiscal fourth-quarter results. The Phoenix-based parent of Mesa Airlines said on 9 January that the Listing Qualifications Department of the Nasdaq Stock Market issued a 4 January notice saying the company failed to comply with listing rules because it has yet to file a report for the period ending 30 September. Mesa had originally scheduled its fourth-quarter earnings call for 14 December. On that date, it submitted a notification of late filing with the US Securities and Exchange Commission, which automatically granted the company a 15-day extension. At the time, the company said it expected to file its results “no later” than the 29 December deadline, and that it would soon announce a new date for its conference call. But that date passed without a fiscal fourth quarter report from Mesa. “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,” Mesa said on 9 January, adding that the notification of potential de-listing from the Nasdaq has “no immediate effect on the listing or trading of the company’s common stock”. The company now has until 4 March to complete the required documentation and regain compliance with the stock exhange’s listing rules. Mesa says it plans to file the form “well in advance of the 60-day notice period and is expected this week to regain compliance with the listing rule”.<br/>