Good news/bad news – With a major assist from Northwors…er, Northwest, TPG Capital will be taking Midwest Airlines private (pending anti-trust approval). The good is is that much of the current management will be staying around rather than the entire function being moved south. The bad; Northwest is going to want their money back quickly, and the airline industry isn’t exactly a growth industry. That’ll mean cuts.
Congrats to the 4 people who said that they’d go to somebody other than AirTrans. Another person and I got close and said a deal would be done by Labor Day (though we said AirTrans would win). For your approval, here’s the results of that poll.
When will Midwest Airlines be sold to AirTran?
- Between Labor Day, 2007 and the day before Thanksgiving, 2007 (27%, 4 Votes)
- They won't be sold to AirTran, but will be sold to somebody else (27%, 4 Votes)
- Prior to Labor Day, 2007 (13%, 2 Votes)
- Between January 1, 2008 and June 30, 2008 (13%, 2 Votes)
- They'll remain independent (13%, 2 Votes)
- Between Thanksgiving Day, 2007 and December 31, 2007 (7%, 1 Votes)
- A date after June 30, 2008 (0%, 0 Votes)
Total Voters: 15
Revisions/extensions (11:32 am 8/17/2007) – The (Somewhat) Daily RAG found the merger agreement.
I really don’t think we’ve seen the last of AirTran on this, and to be honest, something smells fishy about this deal. After two years and voting three people onto the Midwest board, AirTran is just going to walk away?