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 ...

Subscribe to Access this Entire Article

"Other News - 01/23/2007" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions?

Already registered? here.