Comair Mx Base In Gso

[JECKEL]

Comair seeks incentives

David Nivens, STAFF WRITER01/12/2005

Email to a friend Printer-friendly
[font=arial,helvetica,sans-serif]Comair is seeking help from Guilford County officials for a possible $2.8 million maintenance and repair expansion at Piedmont Triad International Airport.

[/font]

[font=arial,helvetica,sans-serif]Comair, a wholly owned subsidiary of Delta Air Lines, has asked county officials for incentives totaling $106,000 over four years if the company decides to go ahead with the project.

"We have made no decision about this," Nick Miller, a Comair spokesman, said Tuesday. "We are looking for more maintenance capacity for our route structure."

The company would expand its hanger and offices and also improve its airport ramp, according to plans.

"We are talking to them, but this is not finalized," said Ted Johnson, airport executive director.

The Guilford County Board of Commissioners will consider the incentive package during a Jan. 20 public hearing in the Old Courthouse in Greensboro.

Rob Bencini, county director of community and economic development, said the $106,000 incentive is based on 53 proposed new maintenance and repair jobs. Construction work could be finished later in 2005, Bencini said Tuesday.



Based in Cincinnati, Comair was founded in 1977. The company employs more than 6,000 aviation professionals. In 2003, the company served more than 10 million customers.

David Nivens can be contacted
at 888-3626 or [email protected]




[/font]

©High Point Enterprise 2005


Why would a wholly owned company like Comair, that is on the brink of being sold or spun-off into never-never land because they are way to expensive to operate, be pouring $2.8 million into a MX/repair station for airplanes that will probably be divied up between CHQ and SKW, anyway, in the financial future?

 

[9rj9]

for the last time

In order to spin-off any WO it has to be of some value. If you spin off a division it has to be attractive for investors, ie future value, not just current value. That would require real growth, not just empty promises. Delta would want maximum dollar per share and would keep 51% of the stock in order to retain control.

A spin-off would be the best thing that could happen to a WO because the parent company needs it to be successful, remember they have 51% of the stock.

 

[wms]

A spin-off won't happen. The DAL PWA says 25% of DAL's flying must be by a wholly-owned. If CA is sold off then ASA would have to do 25% of DAL flying. I don't see that happening.

I don't know what's being done now, but say asa is at 12.5% and CA is at 12.5%, ASA would have to double and CA be gone to comply with the agreement, or vise versa.

That's same reason that ASA mgmt's scare tactics of zero net gain or DAL will sell us is not true. There is no way DAL would give all ASA's flying to CA to keep 25% of DAL flying at a WO.