Nasdaq loses patience with World Air
The Nasdaq Stock Exchange has decided to delist World Air Holdings following a series of delayed financial reports, effective May 22.
World Air plans to appeal the decision immediately to the Nasdaq Listing and Hearing Review Council. Pending the appeal, the company’s common stock will trade on the Pink Sheets under the ticker symbol OTC: WLDA.PK.
In April, World Air asked for a listing extension as it is yet to file its 2005 annual report with the Securities and Exchange Commission. The Peachtree, Ga.-based company has already been given three extensions by Nasdaq following similar delays to quarterly results. World Air said the delays were related to its acquisition of passenger carrier North American Airlines in April. It also operates charter cargo and passenger airline World Airways.