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more Mesaba news

9rj9

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Nov 25, 2001
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5 til2
Mesaba Is Considering Bankruptcy Filing
Friday October 7, 10:22 am ET Northwest Troubles Could Push Mesaba Into Bankruptcy, According to Regulatory Filing
MINNEAPOLIS (AP) -- Northwest Airlines Corp.'s regional carrier Mesaba Aviation Inc. is considering filing for bankruptcy protection because of sharp reductions in its schedule, according to a regulatory filing by its parent. Mesaba flies under the Northwest Airlink name, picking up passengers in small cities and funneling them into Northwest's hubs. It gets its schedule, passengers, planes and revenue from Northwest, which filed for Chapter 11 protection on Sept. 14. Northwest has said it will shed unprofitable routes.
"Mesaba is focused on reducing all areas of its cost structure, but will incur substantial losses in the third and fourth fiscal quarters," Mesaba parent MAIR Holdings Inc. said in a filing with the Securities and Exchange Commission. "Mesaba is considering all options available to it, including a court supervised restructuring under Chapter 11 of the Bankruptcy Code."
Northwest has told Mesaba it will remove 10 Saab B+ aircraft on Jan. 4, and that it probably won't be able to deliver 13 more Canadair Regional Jets on time, according to the filing. Northwest also intends to take away Mesaba's 35 Avro Regional Jets; nine of them were already planned to come out of service on Oct. 31.
Mesaba is MAIR's largest business, although it also runs Big Sky Transportation Co., a Billings, Mont.-based regional airline. MAIR shares dropped a penny to $5.25 in morning trading on the Nasdaq Stock Market. They traded around at $9.50 last month before Northwest filed for bankruptcy protection.
 
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Terry Hunter

Silence!
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All Eggs! Get into the basket.

XJ's business success is entirely dependent on the health of the one customer.
 

Mesabi Miner

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Terry Hunter said:
All Eggs! Get into the basket.

XJ's business success is entirely dependent on the health of the one customer.

Kinda like leaving all the planes on the deck of the aircraft carrier during WWII! Look out USS MESABA, NWA the Kamakazi is on the way in!

It's disgusting how much MAIR holdings led by Mr. PF could have been looking for opportunity in other arenas. I wonder if he feels he's worth his hefty salary now. Probably. These guys have no ethics or heart. Where have you been, Mr. F? What will the investors in your almighty MAIR think when your only breadwinner, Mesaba Aviation, founders? (see the reference back to the carrier?!!!) Way to go, PF, JS, and others. You've done us all so well...
 

Mesabi Miner

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That's what I'm hopin' for. :)
 

Monster Buck

Go bigger or die trying!
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May 9, 2004
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I always thought the fact that NWA controlled and owned a large part of us they would want better for us. Behold I was right. Unfortunately what is better for MAIR is to file bk and throw out all our contracts. Watch how NWA hands MAIR all the reasons they need to file before the new laws take effect. Sick isn't it. I'll bet that 9E guys are glad now that they don't have NWA as a huge share owner. Johnny Paycheck comes to mind again.
 

sf3boy

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i quit
I bet the 9E guys are peeing themselves with MAIR threatening BK and we ain't even the ones in contract talks.
 

dondk

Don't you wish
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Nov 25, 2001
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enuf
sf3boy said:
I bet the 9E guys are peeing themselves with MAIR threatening BK and we ain't even the ones in contract talks.

You nailed it... what contract talks? Stalling is more like it..
 

Way2Broke

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Feb 24, 2005
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I feel so bad for all the Mesaba people. You had finally gotten the growth you deserved with the RJs and then all the madness breaks out. Good luck to all of you!
 
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