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Article: U.S. Bankruptcy Court Approves Midway Airlines, US Airways Plan.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- August 7, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Dudley Price, The News & Observer, Raleigh, N.C. Knight Ridder/Tribune Business News
Aug. 7--MORRISVILLE, N.C.--Midway Airlines' plan to reinvent itself as a commuter affiliate of US Airways won the blessing Tuesday of the U.S. Bankruptcy Court.
Midway, which grounded its fleet July 17, still must get a $5 million loan and find five jets before it can begin flying under the US Airways Express logo.
But the preliminary approval from bankruptcy Judge A. Thomas Small was a major step in the Morrisville carrier's reorganization plan.
Last month, Midway and US Airways announced an agreement for Midway, nearly a year into bankruptcy, ...