Midex Auditor Not Optimistic - Chap 11?

[Heavy Set]

I read in the WSJ today (3/19/03) that Midwest Express Holdings Inc. (aka Midwest Express or Midex) is encountering severe financial difficulties (big surprise) and that its own auditor, Deloitte & Touche, has, "substantial DOUBT about the company's ability to continue as a going concern."

I know that Midex has been vigorously renegotiating with its aircraft lessors (including a rent "holiday" for one month or so...). I also know that Midex just received its first 717 and that a new "leisure subsidiary" using MD80s has been discussed. Is this too little too late?

So, any word from Midex pilots out there? What is the situation? Looks like more furloughs and wage cutbacks are likely... Sounds like a broken record... Any Midex guys out there want to comment on what they are seeing or hearing? What's the word?

Best of luck to all involved!

 

[Capt. Over]

Not good.....

I've been hearing pretty much the same thing from people I know that are still flying there....most of whom are about to be furloughed for a second time after being recalled for a brief period. I've also heard that these latest drastic measures are a "last ditch" effort to stay afloat. Morale is at an all-time low from what I've heard and I personally am once again many numbers away from returning, which will most likely never happen. Always goes that way once you finally land your dream job doesn't it......................

 

[Ty Webb]

Sorry to hear about Midex's problems. I have to say, though, it is a little ironic. When I interviewed there in 2001, Steve S. spent some time trash-talking AirTran, which seemed a little unprofessional . . . . he must really be gnashing his teeth now.

Couldn't help but notice your DA-900 type . . . . are you not able to find permanent or contract work with that right now? Just curious.

 

[mach none]

With something like 30 million cash on hand, the management has let it go to far to save. Once again bad management screws the employees.

 

[Capt. Over]

any ideas for 900 work?

I must have interviewed pretty close to the same time as you did at MidEx, I interviewed 2-14-01 and started 4-23-01. You certainly got the better deal by not getting hired and ending up at Citrus that's for sure.....but who would've known right? I've been in Wisconsin my whole life and don't want to move so MidEx was always my dream job. After getting furloughed from 2 different places in the last two years I'm hesitant to relocate for a flying job. My girlfriend has a good job here and I'm just bitter towards aviation at the moment. That's not to say that I wouldn't consider the right job, especially a Falcon 900/50 job. There isn't much of that up here but if you know of anything please pass it on via a private message. Have fun down there in the sunshine. By the way, I'd love to work for AirTran so if you can be of any assistance also a pvt. msg. would be great. Happy flyin'.

Capt. Over

 

[eightdriver]

Good Job???

How can a school teacher be considered a good job. I mean really "Over"

 

[Capt. Over]

At least my significant other has a job



Benefits....check, Tenure.....check, Stability.....check, Roof over head and chow in the fridge.....check. In this day and age sounds a lot better than most people, especially any flying job that I know of...oh yeah, except for working for any old JOE flying Part 195 trips in an Air King 250, that's a keeper!!!!!! Don't spill too much gas or overload any trailers. Close one eye when you're typing the gallons into the loading computer, that seems to help.

Over and out. That's a big 10-Roger.

 

[eightdriver]

Oh Yeah?

Well I French Kiss.......Ya, but daddy say's I'm the best. One eye out.......

 

[AceCrackshot]

If something happens to MidEx, Im going to cry...great outfit, last true airline out there.

A truly great act when it comes to jumpseaters, too.

The past is truly a better country.

 

[eightdriver]

Capt. Over?

Your my hero!!!!