Wednesday, September 26, 2001

Local airline petitions NASDAQ

Peachtree City's World Airways Inc. announced last week it plans to request a hearing before a NASDAQ Listing Qualifications Panel to ask for continued listing of the company's stock on the Nasdaq SmallCap Market.

World Airways announced June 22 that it had been notified by NASDAQ that its common stock had not maintained a closing bid price of $1 for 30 consecutive trading days as required by a NASDAQ SmallCap Market rule.

The delisting of the company's stock will be delayed pending the outcome of the hearing.

Hollis Harris, World Airways chairman and CEO, said, "We believe we can make a strong case that our business is on solid footing and our financial results will show improvement. We continue to focus on placing our aircraft in profitable operations."

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