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RAH buys Midwest!!!

Browntothebone

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http://finance.yahoo.com/news/Republic-Airways-to-Acquire-bw-2066208706.html?x=0&.v=1



Republic Airways to Acquire Midwest Airlines




  • Press Release
  • Source: Republic Airways Holdings
  • On Tuesday June 23, 2009, 3:30 pm EDT





INDIANAPOLIS--(BUSINESS WIRE)--Republic Airways Holdings (NASDAQ: RJET - News) today announced that it is acquiring Milwaukee-based Midwest Airlines from TPG Capital, a Fort Worth, Texas-based private equity firm. The transaction is subject to customary regulatory approvals and is expected to close in four to six weeks.
Republic will acquire 100% of the equity of Midwest and TPG’s $31 million secured note from Midwest. Consideration will be $6 million in cash and a $25 million, five-year note, which may be converted to RJET stock at $10 per share. In addition, TPG will have the right to nominate a member to the Republic Board of Directors.
“This acquisition will enhance the strategic positioning of Republic Airways,” said Bryan Bedford, chairman, president and CEO of Republic Airways. “Midwest has built a strong brand, a loyal base of customers and dedicated team of employees. We look forward to welcoming them to the Republic family and continuing the Midwest tradition of excellent customer care.”
Bedford added: “As Midwest celebrates its 25th anniversary, I want to make sure I recognize what the employees of Midwest – past and present – have built and sustained through both good and difficult times. This is a great brand built on superior customer service that will continue under new ownership.”
Under the agreement, Midwest will become a wholly owned subsidiary of Republic Airways, with the Midwest brand continuing. Midwest’s Boeing 717s will be replaced with Embraer 190 aircraft, enhancing Midwest’s ability to offer nonstop service to key destinations important to its frequent flyers.
Republic Airways Holdings, based in Indianapolis, Indiana is an airline holding company that owns Chautauqua Airlines, Republic Airlines and Shuttle America. The airlines offer scheduled passenger service on approximately 1,200 flights daily to 101 cities in 37 states, Canada and Mexico through airline services agreements with seven U.S. airlines. All of the airlines’ flights are operated under their airline partner brand, such as AmericanConnection, Continental Express, Delta Connection, United Express, Midwest Connect, Mokulele Airlines and US Airways Express. The airlines currently employ approximately 4,500 aviation professionals and operate 212 regional jets.
In addition to historical information, this release contains forward-looking statements. Republic Airways may, from time-to-time, make written or oral forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements encompass Republic Airways’ beliefs, expectations, hopes or intentions regarding future events. Words such as "expects," "intends," "believes," "anticipates," "should," "likely" and similar expressions identify forward-looking statements. All forward-looking statements included in this release are made as of the date hereof and are based on information available to Republic Airways as of such date. Republic Airways assumes no obligation to update any forward-looking statement. Actual results may vary, and may vary materially, from those anticipated, estimated, projected or expected for a number of reasons, including, among others, the risk factors disclosed in the Company’s most recent filing with the Securities and Exchange Commission.

Contact:


Republic Airways Holdings
Carlo Bertolini, 317-484-6069
 
Last edited:

CitationLover

Aw, Nuts!
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I want to know what he is planing on...bring on SWA ..kick their azz.

He's planning to use our new "brothers", ie the cheap labor to whipsaw the two recently acquired carriers.
 

flyboyzz1

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Republic guys...what are they telling you? There must be some communication in the last couple of days. This is nuts.
 

$$$4nothin

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Republic guys...what are they telling you? There must be some communication in the last couple of days. This is nuts.


Thats funny that you actually think the company tell us anything. Hell our union barely tell us anything. Bad things are going to happen. There is no way that a merger/consolidation will happen without either the scope clause of RAH or the scope of F9 being broken. As far as Midwest is concerned unfortunately I think more good pilots are going to get screwed in the game MGMT. is playing. Nobody at RAH knows what is going on, and to be honest with you I don't think many guys like what is going on. We are just pawns and all we can do is vote down whatever TA comes across the table (we are in contract negotiations) and hope that the guys in the Teamster offices work something out with the Union guys over at F9. Sure many of us would love to fly an Airbus for Frontiers pay rates, that is why we all joined this industry, but there are also many of us that are happy with our 145, 8 minute drive commute to work and most nights in our own bed. IAnyone other than Bedford that says they know what is will happen is full of it. Also anyone who actually thinks any of this is the pilot groups fault in anyway doesn't have a clue.
 

rchcfi

How slow can you go
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This is absolutely the beginning (or at least the middle) of the end of our beloved career. While I don't blame the pilots of RPA (YET!), the management has sunken to a new level. I understand about shareholders and the company's obligation to them, but c'mon. Pretty soon you are going to have 13 year olds flying 747s for lollipops and pop rocks....

This disgusts me!
 

Freightdog75

Don't hassle the Hoff
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Our Union(and all you kool-aid drinkers) better man up on this contract coming up!!!!!!!!!

whats going on around here is BS. From an S5 guy(living in MKE), i'm sorry to all you Midex guys. I wanted to be there since I was a kid.

FD75
 

JumpCaptain

I love tacos!
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whats going on around here is BS. From an S5 guy(living in MKE), i'm sorry to all you Midex guys. I wanted to be there since I was a kid.

And now you are! Congrats!
 

Cardinal

Of The Kremlin
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Nov 25, 2001
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How about national? Christ! More ALPA jobs down the crapper and no spine from ALPO!

Frontier isn't ALPA. And the MidEx jobs have been swirling the bowl for about a year now. As bizarre as all this is, regrettably its a minimal impact in expectations for the poor MEH guys.
 

Monster Buck

Go bigger or die trying!
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Thats funny that you actually think the company tell us anything. Hell our union barely tell us anything. Bad things are going to happen. There is no way that a merger/consolidation will happen without either the scope clause of RAH or the scope of F9 being broken. As far as Midwest is concerned unfortunately I think more good pilots are going to get screwed in the game MGMT. is playing. Nobody at RAH knows what is going on, and to be honest with you I don't think many guys like what is going on. We are just pawns and all we can do is vote down whatever TA comes across the table (we are in contract negotiations) and hope that the guys in the Teamster offices work something out with the Union guys over at F9. Sure many of us would love to fly an Airbus for Frontiers pay rates, that is why we all joined this industry, but there are also many of us that are happy with our 145, 8 minute drive commute to work and most nights in our own bed. IAnyone other than Bedford that says they know what is will happen is full of it. Also anyone who actually thinks any of this is the pilot groups fault in anyway doesn't have a clue.

That is sad. I hope those people are over 50 that feel that way.
 
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