Mesa seeks to dodge de-listing from stock exchange with late fiscal Q4 filing

Following more than a month of delays, Mesa Air Group on 26 January filed its fiscal Q4 earnings report – potentially helping it avoid being de-listed from the US Nasdaq stock exchange. The parent of US regional carrier Mesa Airlines received a 4 January notice from US authorities that it had failed to comply with listing rules because it hadn’t filed an end-of-year report for the period ending 30 September. Now, the company reports losing $120m during the fiscal year ending on that date, compared with a $183m loss in the equivalent prior period. It generated $498m in revenue, down from $531m in fiscal 2022. Mesa had originally scheduled its Q4 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 Q4 report from Mesa. It is unclear whether the company’s 26 January filing effectively averts Mesa’s de-listing from the stock exchange. Mesa did not immeditely respond to a query about its status of compliance with the Nasdaq’s rules. Mesa recently revealed that the delay was related to a “$30m factual balance sheet mis-statement”, according to the company’s financial filings. <br/>