MAIR Holdings' deal with Northwest Airlines announced Monday (ATWOnline, Jan. 23) will see bankrupt Mesaba Airlines become a wholly owned subsidiary of NWA under a stock purchase and reorganization agreement. Mesaba said it intends to emerge from Chapter 11 this spring, having reduced annual costs by $68 million. It will have a $145 million unsecured claim in NWA's bankruptcy case in exchange for the entirety of Mesaba's new common stock. The regional said it expects to sell the claim to ...

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