NEWPORT NEWS — People Express airlines has signed a purchase agreement to buy an unnamed charter airline, a company official said, potentially launching the rebirth of the 1980s airline out of the Newport News-Williamsburg International Airport.
In an email, People Express president Michael Morisi told the Daily Press that the purchase agreement had been signed, and that a $500,000 refundable loan that was used to help finance the purchase was returned to taxpayers.
Morisi declined to immediately answer further questions, saying that more details will be announced on Monday once employees of the charter airline are notified. Morisi has previously said that charter operations will continue, but also five jets in the purchase would be used for discount commercial flights by People Express originating from Newport News. Morisi has told the Daily Press that he expects operations to begin before summer begins.
The Regional Air Service Enhancement Committee, or RAISE, granted the short-term loan to help People Express complete the purchase. The airport committee collects taxpayer funds from a number of localities on the Peninsula
In an email, People Express president Michael Morisi told the Daily Press that the purchase agreement had been signed, and that a $500,000 refundable loan that was used to help finance the purchase was returned to taxpayers.
Morisi declined to immediately answer further questions, saying that more details will be announced on Monday once employees of the charter airline are notified. Morisi has previously said that charter operations will continue, but also five jets in the purchase would be used for discount commercial flights by People Express originating from Newport News. Morisi has told the Daily Press that he expects operations to begin before summer begins.
The Regional Air Service Enhancement Committee, or RAISE, granted the short-term loan to help People Express complete the purchase. The airport committee collects taxpayer funds from a number of localities on the Peninsula
