Article: MAIR Holdings reports agreements with Northwest Airlines.(MAIR Holdings Inc)(Mesaba Aviation Inc.)

AIRLINE INDUSTRY INFORMATION-(C)1997-2007 M2 COMMUNICATIONS LTD

MAIR Holdings Inc (NASDAQ:MAIR) has reported the terms of two agreements, one a definitive agreement between MAIR and Northwest Airlines and the other a definitive agreement between MAIR's Mesaba Airlines subsidiary and Northwest under which Mesaba will exit bankruptcy as an operating subsidiary of Northwest.

The agreement between MAIR and Northwest reportedly states that MAIR will purchase from Northwest all of the MAIR stock the airline currently owns for an aggregate purchase price of USD6.25 per share, or approximately USD35mn. Approximately USD24m of the aggregate purchase price will be ...

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