iaflyer
Haulin the folks...
- Joined
- Nov 27, 2001
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Delta Air Lines Reaches Definitive Agreement to Sell Atlantic Southeast Airlines to SkyWest
Customers to Experience Seamless Transition with No Expected Significant Changes in ASA Flight Schedules, Locations Served
Agreement Strengthens Delta's Strategic Relationship with SkyWest
Transaction Improves Delta's Liquidity ATLANTA, Aug. 15 /PRNewswire-FirstCall/ -- Delta Air Lines, Inc. (NYSE: DAL - News) today announced that it has entered into a definitive agreement to sell its wholly owned regional airline subsidiary Atlantic Southeast Airlines, Inc. (ASA) to SkyWest, Inc. (Nasdaq: SKYW - News) for a purchase price of $425 million in cash. ASA will continue to serve Delta customers under a new 15- year Delta Connection agreement, with ASA's fleet of more than 150 aircraft continuing to fly Delta routes.
Delta Chief Executive Officer Gerald Grinstein said, "We are pleased to strengthen our long-time relationship with Delta Connection partner SkyWest and believe the transaction will be mutually beneficial to our customers and our companies. This transaction provides for a long-term competitive cost structure as well as appropriate incentives to reward ASA for operational excellence and cost improvement. Delta has extensive experience working with SkyWest and other regional carriers under capacity purchase arrangements.
Full details here...
Customers to Experience Seamless Transition with No Expected Significant Changes in ASA Flight Schedules, Locations Served
Agreement Strengthens Delta's Strategic Relationship with SkyWest
Transaction Improves Delta's Liquidity ATLANTA, Aug. 15 /PRNewswire-FirstCall/ -- Delta Air Lines, Inc. (NYSE: DAL - News) today announced that it has entered into a definitive agreement to sell its wholly owned regional airline subsidiary Atlantic Southeast Airlines, Inc. (ASA) to SkyWest, Inc. (Nasdaq: SKYW - News) for a purchase price of $425 million in cash. ASA will continue to serve Delta customers under a new 15- year Delta Connection agreement, with ASA's fleet of more than 150 aircraft continuing to fly Delta routes.
Delta Chief Executive Officer Gerald Grinstein said, "We are pleased to strengthen our long-time relationship with Delta Connection partner SkyWest and believe the transaction will be mutually beneficial to our customers and our companies. This transaction provides for a long-term competitive cost structure as well as appropriate incentives to reward ASA for operational excellence and cost improvement. Delta has extensive experience working with SkyWest and other regional carriers under capacity purchase arrangements.
Full details here...