Volume 40
October -1, 2014

A Weekly Aviation Career
Newsletter from Avjobs, Inc.

A Weekly Aviation Career Newsletter from Avjobs, Inc.
 
A Weekly Aviation Career Newsletter from Avjobs, Inc.
Airline Merger Update

US Airways and Delta Air Lines

Airline Merger Update

US Airways withdrew its merger offer for Delta Air Lines after Delta's creditors said they would not support the buyout bid. The committee of unsecured creditors formally endorsed Delta's plan to emerge from bankruptcy as an independent airline. The committee said it considered many factors, including the deal's valuation, timing, risks and likelihood of success. Some industry analysts believe US Airways will pursue another merger 'perhaps for Northwest Airlines. US Airways CEO Douglas Parker said earlier this week that bankrupt airlines are attractive because they 'offer good opportunities to boost profits.'

In the meantime, AirTran Holdings is extending the deadline for its $345 million takeover bid of Midwest Air Group. The offer was originally set to expire on February 8th but has now been pushed back a month. On January 23rd, AirTran asked the New York Supreme Court to order Milwaukee-based Midwest Air to release its shareholder list, claiming the airline is trying to "thwart AirTran from communicating directly with the Midwest shareholders about its offer to merge the two airlines." Two days later, Midwest's board unanimously recommended its shareholders reject AirTran's takeover bid, calling the offer 'opportunistic' and saying it 'undervalues' the company.

 

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