04:36 PM EDT, 06/21/2024 (MT Newswires) -- Volato Group ( SOAR ) said late Friday it received a notice from the NYSE American that it is not compliant with the exchange's continued listing rules regarding minimum shareholders' equity following operational and/or net losses in recent fiscal years.

The exchange requires the company to maintain stockholders' equity of at least $2 million if it reported losses in two of its three most recent fiscal years and at least $4 million if it had losses in three of its four most recent fiscal years.

The company said it has to submit a compliance plan to the NYSE American by July 18 stating actions to regain compliance by Dec. 18.

The exchange will begin the delisting process if the plan is not accepted or permitted, Volato ( SOAR ) added.

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