Source: The Business Journal of Milwaukee Author: 06/09/2009
Subject Concerned: Aircraft Airlines
Midwest Airlines announced on June 8 that is has obtained US$12 million in additional debt financing consisting of a pair of US$6 million loans.
The financing includes a loan from Fort Worth, Texas-based TPG Capital, Midwest's majority owner, and the other from Republic Airways Holdings Inc., Indianapolis, which provided Midwest with US$25 million in funding last year as part of an agreement to operate 12 regional jets for Midwest.
Oak Creek-based Midwest also announced that it has amended its air services agreement with Republic to include a dozen 37- to 50-seat Embraer jets to serve a number of its Midwest Connect routes. These jets will be phased into service from July 2009 through January 2010. Republic also is to begin flying two 94-seat Embraer 190AR jets for Midwest in August in a previously announced move.
As a component of its ongoing restructuring plan, Midwest has reached a settlement agreement with SkyWest Airlines and will return the dozen 50-seat Canadair regional jets SkyWest currently operates for Midwest.
"I'd like to thank SkyWest employees for their dedication to providing Midwest Connect customers with quality service over the past several years," said Timothy Hoeksema, Midwest Airlines chairman, president and CEO of Midwest Air Group Inc., which operates Midwest Airlines and regional carrier Midwest Connect.