Owing to the missed deadline for filing its 10K on time, Mesa is risking being de-listed on Nasdaq. On January 2, 2008, Mesa Air Group, Inc. received a Nasdaq Staff Determination letter indicating that the company failed to comply with the filing requirements for continued listing set forth in Marketplace Rule 4310(c)(14), and that its securities are subject to delisting from The Nasdaq Global Select Market. The company is requesting a hearing before a Nasdaq Listing Qualifications Panel to review the Staff Determination and expects to file its 10K by the January 15 deadline it set for itself when it announced it would miss its deadline before the hearing.
The notice results of the company’s failure to file its Form 10-K for the fiscal year ended September 30, 2007. On December 27, the company announced  it was delaying the filing of its Form 10-K until on or about January 15, 2008. The delay is the result of the company’s ongoing review of certain estimates and reserves that may affect its financial statements. In addition, the company’s decision to sell its Air Midwest, Inc. operations, or certain Air Midwest assets, as of September 30, 2007, requires additional work to ensure proper reporting as discontinued operations.