Mesa Air Group notifies of NASDAQ compliance issue plans timely resolution

Saturday, February 24, 2024

Mesa Air Group, Inc. (NASDAQ: MESA) (“Mesa” or the “Company”) today disclosed that it has been notified by the Listing Qualifications Department of The Nasdaq Stock Market (“Nasdaq”) on February 21, 2024, that it is currently not adhering to Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”). This non-compliance is due to Mesa’s inability to file its Quarterly Report on Form 10-Q for the quarter ending December 31, 2023, on time with the Securities and Exchange Commission. The delay in filing is not attributed to any upcoming corrections in the Company’s financial statements or disagreements with its auditors.

This Notice’s release does not have an immediate impact on Mesa’s status or the trading of its shares on the Nasdaq Global Select Market. Mesa has received a 60-day period, ending on April 22, 2024, from the Notice to submit a plan to Nasdaq detailing its strategy for addressing its non-compliance with the Listing Rule. If Nasdaq accepts Mesa’s plan for regaining compliance, the company may receive an extension of up to 180 days from the initial Form 10-Q due date, giving it until August 12, 2024, to file the Form 10-Q and return to compliance.

Mesa is actively working to finalize the Form 10-Q and intends to submit either the compliance plan or the Form 10-Q itself ahead of the 60-day deadline specified in the Notice. The Company anticipates that it will successfully regain compliance with the Listing Rule.

This statement is issued in accordance with Nasdaq Listing Rule 5810(b), which mandates the immediate reporting of any deficiency notices received.

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