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World Air Holdings stock to be delisted from Nasdaq.

AIRLINE INDUSTRY INFORMATION-(C)1997-2006 M2 COMMUNICATIONS LTD

World Air Holdings Inc (Nasdaq: WLDA), parent company of World Airways and North American Airlines, said it has been notified by Nasdaq that the common stock of the company will be delisted from the Nasdaq National Market effective as of the opening of business on 22 May 2006.

This action was the result of a Nasdaq hearing panel determining that the company has not met the requirement that it be current in its required reporting obligations under Nasdaq Market Place Rule 4310(c)(14). This is principally because of the company's failure to make timely filings of its annual report on Form 10-K for the year ended 31 December 2005 and its quarterly report on Form 10-Q for the first quarter of 2006. The hearing panel determined not to grant the company's request for further extensions to file such reports.

World Air Holdings said it plans to appeal the decision of the hearing panel immediately to the Nasdaq Listing and Hearing Review Council. Pending such appeal the company's common stock will trade, beginning 22 May 2006, on the Pink Sheets under the ticker symbol OTC: WLDA.PK. The company said that there is no assurance that it will prevail in its appeal of the delisting decision.

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Comment:World Air Holdings stock to be delisted from Nasdaq.
Publication:Airline Industry Information
Article Type:Brief article
Geographic Code:1USA
Date:May 19, 2006
Words:226
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