Comair Sale A Rumor, Says Company's President
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Last updated: 3/8/2005 12:35:20 PM
Comair's president says the company is viewing a report that Delta might sell Comair as "a rumor."
Fred Buttrell says The Wall Street Journal's Tuesday report "are not based on fact as it applies to Comair.
The newspaper reported that Delta Air Lines Inc. is in talks with SkyWest Inc. to sell one or two of its regional feeder carriers.
Delta has said publicly in the past that it was evaluating all of its assets, including its feeder carriers Comair and Atlantic Southeast Airlines, as it seeks to return to profitability. The company lost more than $5 billion last year and has been racked by continually high fuel prices.
Comair is based at Cincinnati-Northern Kentucky International Airport.
The Journal said Bradford Rich, chief financial officer of SkyWest, said at an investor conference Monday in Orlando, Fla., that the discussions were in the early stages. Rich did not say if SkyWest was interested in one or both of the feeder carriers.
"We think we're in the best position of anyone to take advantage of this type of opportunity," Rich was quoted as saying. A SkyWest spokeswoman at the company's headquarters in St. George, Utah, could not immediately confirm Rich's comments or provide a transcript of the comments when reached Tuesday by The Associated Press.
Asked about the report, Delta spokesman John Kennedy said Tuesday, "It's Delta policy not to comment on industry rumor or speculation. It would be inappropriate for us to discuss Mr. Rich's comments."
Fred Buttrell, Comair President, gave the following statement at noon on Tuesday:
"Comair has not been asked by anyone to conduct any due diligence.
News reports on this topic are not based on fact as it applies to Comair.
Delta has commented that it constantly evaluates assets for maximum value. This has led to rumors and speculation that it may monetize Comair and/or ASA.
Comair views this just like any rumor and we will not allow it to distract the airline from its mission to ensure operational reliability, customer service excellence and to achieve a winning growth strategy Whether independent or wholly owned Comair's success is based on its ability to execute in these three focus areas."