Mesa Air Group receives Nasdaq notice for failing to comply with minimum bid price rule

Airline Industry Information, June 23, 2008

AIRLINE INDUSTRY INFORMATION-(C)1997-2008 M2 COMMUNICATIONS LTD

Mesa Air Group Inc (Nasdaq: MESA) has received notice that it is not in compliance with the minimum bid price requirement for continued listing on Nasdaq.

This is because the bid price of Mesa's common stock has closed below the minimum USD1.00 per share requirement for the last 30 consecutive business days.

The company has been given 180 days, or until 15 December 2008, to regain compliance.

Mesa will achieve compliance if the bid price of its common stock closes at USD1.00 per share or more for a minimum of 10 consecutive business days.

If the company does not regain compliance by the deadline set, Nasdaq Staff will provide written notification that Mesa's securities are to be delisted. The company will then request a hearing before a Nasdaq Listing Qualifications Panel to review the Staff Determination.

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