Great Lakes Aviation has requested a hearing before a Nasdaq listing qualification panel to contest the planned delisting of its shares from the Nasdaq Stock Market. The hearing request in effect delayed the delisting of Great Lakes’ securities pending the panel’s decision.
Financial Industry Regulatory Authority
Nasdaq’s listing qualification panel removed Great Lakes Aviation from its SmallCap Market index on August 14 after denying the airline’s appeal for an exemption. On August 1 Great Lakes submitted oral and written presentations to the Nasdaq panel, including a financial restructuring plan aimed at returning it to compliance with the market’s listing criteria.