Mesa Air Faces NASDAQ Delisting
January 7, 2010 (FinancialWire) — Mesa Air Group, Inc. (NASDAQ: MESA) said it has received a letter from the NASDAQ Stock Market indicating the staff’s determination that the company’s securities will be delisted from the exchange.
According to Mesa, the decision was reached by NASDAQ under Listing Rules in view of the January 5, 2010 announcement by the company of a voluntary filing by Mesa for relief under Chapter 11 of the U.S. Bankruptcy Code.
Mesa said it does not intend to take any further action to appeal the exchange’s decision. Accordingly, trading of the company’s common stock will be suspended at the opening of business on January 14, 2010.
Phoenix-based Mesa currently operates 130 aircraft with approximately 700 daily system departures to 127 cities, 41 states, Canada, and Mexico. Mesa operates as Delta Connection, US Airways Express and United Express under contractual agreements.
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