Go ahead. Post pictures of naughty flight attendants. You know you want to. ;)
Gotta love unions. /s
Too bad. I always enjoyed flying on Midwest. Big seats and Alterra coffee. Yum.
Union thugs would rather be unemployed than allow a company enough profit to stay in business.
Good for them, we still have a few positions open here at the local McDonalds. I welcome flight attendants, it will be a nice change of scenery.
Midwest was just sold to another company about two weeks ago who is going to get rid of the big jets and have a fleet of Regional Jet’s instead. I am sure this is one of the reasons behind the union’s anger.
http://online.wsj.com/article/BT-CO-20090623-712247.html
Republic Airways Holdings Inc. (RJET) agreed to acquire fellow regional carrier Midwest Airlines from TPG Capital for $31 million, just 17 months after the private-equity giant paid $452 million.
Since then, the airline industry has suffered from record-high fuel prices and now the ongoing slump in ticket demand.
The deal marks the second big transaction of the day for Republic, which said earlier Tuesday that it will pay $108.8 million to help connection partner Frontier Airlines Inc. (FRNTQ) emerge from bankruptcy protection.
Republic shares were recently up 47% at $6.
Private equity firm TPG took over Midwest in January 2008. The airline flirted with bankruptcy last year amid rising fuel prices, resulting in the company’s slashing its work force by 40%. TPG will get $6 million in cash, a $25 million note and the ability to appoint someone to Republic’s current 6-person board.
“This acquisition will enhance the strategic positioning of Republic Airways,” said Chairman and Chief Executive Bryan Bedford. “Midwest has built a strong brand, a loyal base of customers and dedicated team of employees.”
Republic, which will keep the Midwest brand separate, plans to expand the airline’s ability to offer nonstop service with new aircraft, scrapping its Boeing 717s with Embraer 190s.
The five-year note is convertible into Republic common stock at $10 a share, which would result in 2.5 million new shares. Republic currently has about 35 million shares outstanding.
Midwest Airlines grew out of Kimberly-Clark Corp.’s (KMB) internal transportation service for executives. The consumer-products company formed K-C Aviation in 1969, providing aviation services to other companies and specializing in the meticulous customization of corporate aircraft.
In 1984, K-C Aviation and Kimberly-Clark launched Midwest Express Airlines, which became publicly traded in 1995 and shortened its name to Midwest Airlines in 2003.
“we do not intend to go away quietly”
You’ll go away all the same...unemployment secondary to bankrupt employer
Let's ask Littleman.
I’m a member of ALPA (begrudgingly), but the pilots really signed the airline’s death warrant when they staunchly opposed AirTran’s offer to purchase the struggling carrier. They would’ve kept their jobs at a lower pay rate/seniority, as would’ve the flight attendants. Now, the flying is being farmed out to RAH, and the jobs are pretty much gone. All of the lower-paid Republic pilots hate that they’re taking away these jobs, but hey, those guys are still employed at least.
But I still fly Midwest whenever I can, if I have to fly. And I've got tickets for a September flight! I hope they're still in business, and they honor the tickets (though I did purchase travelers insurance, just in case, since the dates were so far off).
Mark