Mesa Air Group Discloses Notice from Nasdaq
Mesa Air Group (NASDAQ: MESA) announced receiving a notice from Nasdaq on January 15, 2025, indicating non-compliance with Listing Rule 5250(c)(1) due to failing to timely file its Annual Report (Form 10-K) for the fiscal year ended September 30, 2024. The notice does not immediately affect Mesa's listing or trading status on the Nasdaq Capital Market.
The company has 60 calendar days to submit a compliance plan to Nasdaq. If accepted, Mesa could receive up to 180 days (until July 14, 2025) to file the Form 10-K. Mesa stated the delay is not due to any financial restatement or auditor disagreement, and expects to file the report before the 60-day notice period expires.
Mesa Air Group (NASDAQ: MESA) ha annunciato di aver ricevuto una comunicazione da Nasdaq il 15 gennaio 2025, che indica la non conformità con la Regola di Quotazione 5250(c)(1) a causa della mancata presentazione tempestiva del suo Rapporto Annuale (Modulo 10-K) per l'esercizio fiscale conclusosi il 30 settembre 2024. La comunicazione non influisce immediatamente sullo stato di quotazione o di trading di Mesa sul Nasdaq Capital Market.
L'azienda ha a disposizione 60 giorni di calendario per presentare un piano di conformità a Nasdaq. Se accettato, Mesa potrebbe avere fino a 180 giorni (fino al 14 luglio 2025) per presentare il Modulo 10-K. Mesa ha dichiarato che il ritardo non è dovuto a una rettifica finanziaria né a disaccordi con i revisori, e si aspetta di presentare il rapporto prima della scadenza del periodo di notifica di 60 giorni.
Mesa Air Group (NASDAQ: MESA) anunció haber recibido un aviso de Nasdaq el 15 de enero de 2025, indicando no cumplimiento con la Regla de Listado 5250(c)(1) por no presentar a tiempo su Informe Anual (Formulario 10-K) para el año fiscal que terminó el 30 de septiembre de 2024. El aviso no afecta de inmediato el estatus de cotización o de negociación de Mesa en el Nasdaq Capital Market.
La compañía dispone de 60 días calendario para presentar un plan de cumplimiento a Nasdaq. Si es aceptado, Mesa podría recibir hasta 180 días (hasta el 14 de julio de 2025) para presentar el Formulario 10-K. Mesa indicó que el retraso no se debe a ninguna revisión financiera ni a desacuerdos con el auditor, y espera presentar el informe antes de que se cumpla el periodo de aviso de 60 días.
메사 에어 그룹 (NASDAQ: MESA)는 2025년 1월 15일 나스닥으로부터 연례 보고서(양식 10-K)를 2024년 9월 30일로 종료된 회계 연도에 대해 기한 내에 제출하지 않아 나스닥 상장 규칙 5250(c)(1) 위반 통지를 받았다고 발표했습니다. 이 통지는 메사의 나스닥 자본 시장에서의 상장 또는 거래 상태에 즉각적인 영향을 미치지 않습니다.
회사는 나스닥에 규정 준수 계획을 제출할 수 있는 60일의 시간을 갖고 있습니다. 만약 승인이 된다면, 메사는 양식 10-K를 제출할 수 있는 최대 180일(2025년 7월 14일까지)을 받을 수 있습니다. 메사는 이번 지연이 재무 재조정이나 감사인과의 분쟁 때문이 아니라고 밝혔으며, 60일 통지 기간이 만료되기 전에 보고서를 제출할 것으로 예상하고 있습니다.
Mesa Air Group (NASDAQ : MESA) a annoncé avoir reçu un avis de Nasdaq le 15 janvier 2025, indiquant un non-respect de la règle de cotation 5250(c)(1) en raison du non-dépôt en temps voulu de son rapport annuel (formulaire 10-K) pour l'exercice clos le 30 septembre 2024. L'avis n'affecte pas immédiatement le statut de cotation ou de négociation de Mesa sur le Nasdaq Capital Market.
L'entreprise dispose de 60 jours calendaires pour soumettre un plan de conformité à Nasdaq. Si accepté, Mesa pourrait obtenir jusqu'à 180 jours (jusqu'au 14 juillet 2025) pour déposer le formulaire 10-K. Mesa a déclaré que le retard n'était dû à aucune révision financière ou désaccord avec l'auditeur, et s'attend à déposer le rapport avant l'expiration de la période de notification de 60 jours.
Mesa Air Group (NASDAQ: MESA) gab am 15. Januar 2025 bekannt, eine Mitteilung von Nasdaq erhalten zu haben, die eine Nichtkonformität mit der Listungsregel 5250(c)(1) aufgrund des verspäteten Einreichens ihres Jahresberichts (Formular 10-K) für das am 30. September 2024 endende Geschäftsjahr anzeigt. Die Mitteilung hat keinen unmittelbaren Einfluss auf den Listungs- oder Handelsstatus von Mesa am Nasdaq Capital Market.
Das Unternehmen hat 60 Kalendertage, um einen Compliance-Plan bei Nasdaq einzureichen. Wenn dieser akzeptiert wird, könnte Mesa bis zu 180 Tage (bis zum 14. Juli 2025) Zeit erhalten, um das Formular 10-K einzureichen. Mesa erklärte, dass die Verzögerung nicht auf eine finanzielle Neufeststellung oder Meinungsverschiedenheiten mit dem Prüfer zurückzuführen sei und erwartet, den Bericht vor Ablauf der 60-tägigen Mitteilungsfrist einzureichen.
- No immediate effect on stock listing or trading status
- Delay not related to financial restatements or auditor disagreements
- Company expects to file Form 10-K within 60-day notice period
- Failed to file Annual Report (Form 10-K) on time
- Risk of potential delisting if compliance plan is not accepted or executed
- Non-compliance with Nasdaq Listing Rule 5250(c)(1)
Insights
The NASDAQ non-compliance notice for Mesa Air Group represents a serious regulatory challenge that could potentially impact the company's listing status. The delayed filing of the Form 10-K raises concerns about the company's financial reporting capabilities and internal controls. While Mesa has emphasized this isn't due to a restatement or auditor disagreement, which is somewhat reassuring, the failure to file timely reports is often a red flag for investors.
The 60-day deadline to submit a compliance plan and potential 180-day extension provide a reasonable runway for resolution. However, the market typically views such delays negatively as they limit transparency and increase uncertainty. The timing is particularly concerning given Mesa's recent financial challenges and the competitive pressures in the regional airline sector. The company's relatively small market cap of
For the average investor: Think of this like missing an important tax filing deadline - while there's a grace period to fix it, it raises questions about why the deadline was missed in the first place. The good news is Mesa seems confident about filing within the initial 60-day window, which would minimize the negative impact. However, investors should monitor this situation closely as continued listing compliance is important for maintaining market access and investor confidence.
This filing delay represents a significant governance concern, particularly in the context of Mesa's operational environment. The absence of a restatement requirement or auditor disagreement suggests potential internal control or staffing challenges rather than accounting irregularities. However, the inability to meet fundamental reporting obligations could indicate deeper organizational issues.
The market implications are multifaceted:
- Potential increase in borrowing costs due to perceived risk
- Reduced investor confidence in management's execution capabilities
- Higher scrutiny from regulators and stakeholders
In simpler terms: When a company can't file its annual report on time, it's like showing up late to a job interview - it makes others question your reliability and organization. While Mesa has a clear path to resolve this issue, the incident may have lasting effects on investor perception and could impact future capital raising efforts. The timing of this notice, amid industry-wide challenges in regional aviation, adds another layer of complexity to Mesa's recovery efforts.
PHOENIX, Jan. 21, 2025 (GLOBE NEWSWIRE) -- Mesa Air Group, Inc. (NASDAQ: MESA) (“Mesa” or the “Company”) today announced that it received a notice (“Notice”) on January 15, 2025 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 fiscal year ended September 30, 2024 (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 Capital Market. The Notice states that the Company has 60 calendar days from the date of the Notice 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 until July 14, 2025, 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 in advance of the 60-day notice period and expects 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 67 cities in 34 states, Cuba, and Mexico. As of September 30, 2024, Mesa operated a fleet of 67 aircraft, with approximately 265 daily departures. The Company had approximately 1,838 employees. Mesa operates all its flights as United Express pursuant to the terms of a capacity purchase agreement entered into with United Airlines, Inc.
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-Q 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.
Media
media@mesa-air.com
Investor Relations
investor.relations@mesa-air.com
FAQ
What is the deadline for Mesa Air Group (MESA) to submit its compliance plan to Nasdaq?
What is the maximum extension period MESA could receive to file its Form 10-K?
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Is Mesa Air Group's delayed Form 10-K filing related to financial restatements?
