The Prussian
Stecknadelkopf
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High fuel prices claim Air Midwest
Regional carrier to phase out service through May and June
By Russ Britt, MarketWatch
Last update: 11:12 a.m. EDT May 14, 2008
LOS ANGELES (MarketWatch) -- A retreating airline industry claimed another victim as Air Midwest will phase out operations, the regional carrier's parent said Wednesday.
Mesa Air Group Inc. , which operates Air Midwest, said record-high fuel prices, low demand and a difficult operating environment were to blame for the discontinuation of service. Air Midwest's routes served 27 cities throughout the U.S.
"Unfortunately under the current economic conditions there was no foreseeable way to achieve sustained profitability," said Jonathan Ornstein, Mesa Air's chief executive, in a press release.
"Even with subsidies from the [Department of Transporation], Air Midwest has been unable to sustain profitability for the last several years."
The company, which could not be reached for immediate comment, said in the release that it was working to minimize the impact on passengers. It was unclear what plans pre-booked passengers would have to make.
Air Midwest's East Coast operations, including service to cities in Pennsylvania, West Virginia and Georgia, will shut down May 23.
West Coast operations in Nevada, California, Arizona and New Mexico will follow suit on May 31.
And central U.S. cities in Missouri, Nebraska and Arkansas are expected to halt service June 30.
Air Midwest operates 20 Beech 19-seat airliners. It was founded in Wichita, Kan., in May 1965.
It isn't to be confused with Milwaukee-based Midwest Airlines, a much larger carrier.
Shares of Mesa Air lost 7 cents to 66 cents in recent action.
Russ Britt is the Los Angeles bureau chief for MarketWatch.
Oops...sorry...should have posted on the Regionals...my bad..
Regional carrier to phase out service through May and June
By Russ Britt, MarketWatch
Last update: 11:12 a.m. EDT May 14, 2008
LOS ANGELES (MarketWatch) -- A retreating airline industry claimed another victim as Air Midwest will phase out operations, the regional carrier's parent said Wednesday.
Mesa Air Group Inc. , which operates Air Midwest, said record-high fuel prices, low demand and a difficult operating environment were to blame for the discontinuation of service. Air Midwest's routes served 27 cities throughout the U.S.
"Unfortunately under the current economic conditions there was no foreseeable way to achieve sustained profitability," said Jonathan Ornstein, Mesa Air's chief executive, in a press release.
"Even with subsidies from the [Department of Transporation], Air Midwest has been unable to sustain profitability for the last several years."
The company, which could not be reached for immediate comment, said in the release that it was working to minimize the impact on passengers. It was unclear what plans pre-booked passengers would have to make.
Air Midwest's East Coast operations, including service to cities in Pennsylvania, West Virginia and Georgia, will shut down May 23.
West Coast operations in Nevada, California, Arizona and New Mexico will follow suit on May 31.
And central U.S. cities in Missouri, Nebraska and Arkansas are expected to halt service June 30.
Air Midwest operates 20 Beech 19-seat airliners. It was founded in Wichita, Kan., in May 1965.
It isn't to be confused with Milwaukee-based Midwest Airlines, a much larger carrier.
Shares of Mesa Air lost 7 cents to 66 cents in recent action.
Russ Britt is the Los Angeles bureau chief for MarketWatch.
Oops...sorry...should have posted on the Regionals...my bad..
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