In addition to the new Mesa deal, the announcements are coming fast and furious. Here's the latest from Air Whiskey and ACA:
United Reaches Pact With Air Wisconsin On Amended United Express Pact
July 2, 2003
CHICAGO -- UAL Corp.'s (UALAQ) United Airlines unit reached a memorandum of understanding that will allow Air Wisconsin Airlines Corp. to continue to operate under the United Express brand for 11 more years.
A United Airlines spokesman declined to disclose financial terms, while Air Wisconsin officials weren't immediately available to discuss the new agreement.
In a press release Wednesday, UAL said the amended contract will allow Air Wisconsin to operate select portions of United Express Service. It also provides the Appleton, Wis., company with the opportunity to place 20 more regional jets in the United Express program in Washington, Chicago and Denver.
United Airlines and Air Wisconsin have been partners since 1984. The new deal requires negotiation of a final contract and bankruptcy court approval. It also requires approval from Air Wisconsin's flight attendants, mechanics and customer service personnel unions.
Last month, UAL said it hopes to emerge from Chapter 11 bankruptcy protection by either the fourth quarter of 2003 or the first quarter of next year. It filed for bankruptcy protection in December.
Atlantic Coast, UAL Still Don't Have A Deal
DULLES, Va. -- Atlantic Coast Airlines Holdings Inc. (ACAI) said it failed to reach an agreement on replacing existing contracts with United Airlines parent UAL Corp. (UAL ).
Atlantic Coast, a regional airline that operates under the United Express and Delta Connection brands in the Eastern and Midwestern U.S. and Canada, said it will keep working on contingency plans that would allow it to establish alternatives to the United Airlines business if agreements can't be reached.
In midmorning trading Wednesday, Atlantic Coast's shares were down $1.49, or 13%, to $9.67 on the Nasdaq National Market. Earlier, the shares touched as low as $8.72 each. Tuesday, the company's stock fell 19% to $11.16 after a Merrill Lynch analyst downgraded his investment rating on Atlantic Coast to "neutral" from "buy."
The regional carrier said it has held talks with United Airlines over terms of a new contract to replace the existing United Express agreements but said the companies were unable to reach an agreement on terms it believes are "acceptable" during their last discussion June 30.
In May, UAL asked a bankruptcy-court judge to prevent Atlantic Coast from walking out on a contract to provide regional airline service. About a month earlier, Atlantic Coast accused UAL of being in default on the contract, because it wasn't negotiating new rates in "good faith."
Chicago-based UAL filed for federal bankruptcy protection in December.
Updated July 2, 2003 11:09 a.m.
United Reaches Pact With Air Wisconsin On Amended United Express Pact
July 2, 2003
CHICAGO -- UAL Corp.'s (UALAQ) United Airlines unit reached a memorandum of understanding that will allow Air Wisconsin Airlines Corp. to continue to operate under the United Express brand for 11 more years.
A United Airlines spokesman declined to disclose financial terms, while Air Wisconsin officials weren't immediately available to discuss the new agreement.
In a press release Wednesday, UAL said the amended contract will allow Air Wisconsin to operate select portions of United Express Service. It also provides the Appleton, Wis., company with the opportunity to place 20 more regional jets in the United Express program in Washington, Chicago and Denver.
United Airlines and Air Wisconsin have been partners since 1984. The new deal requires negotiation of a final contract and bankruptcy court approval. It also requires approval from Air Wisconsin's flight attendants, mechanics and customer service personnel unions.
Last month, UAL said it hopes to emerge from Chapter 11 bankruptcy protection by either the fourth quarter of 2003 or the first quarter of next year. It filed for bankruptcy protection in December.
Atlantic Coast, UAL Still Don't Have A Deal
DULLES, Va. -- Atlantic Coast Airlines Holdings Inc. (ACAI) said it failed to reach an agreement on replacing existing contracts with United Airlines parent UAL Corp. (UAL ).
Atlantic Coast, a regional airline that operates under the United Express and Delta Connection brands in the Eastern and Midwestern U.S. and Canada, said it will keep working on contingency plans that would allow it to establish alternatives to the United Airlines business if agreements can't be reached.
In midmorning trading Wednesday, Atlantic Coast's shares were down $1.49, or 13%, to $9.67 on the Nasdaq National Market. Earlier, the shares touched as low as $8.72 each. Tuesday, the company's stock fell 19% to $11.16 after a Merrill Lynch analyst downgraded his investment rating on Atlantic Coast to "neutral" from "buy."
The regional carrier said it has held talks with United Airlines over terms of a new contract to replace the existing United Express agreements but said the companies were unable to reach an agreement on terms it believes are "acceptable" during their last discussion June 30.
In May, UAL asked a bankruptcy-court judge to prevent Atlantic Coast from walking out on a contract to provide regional airline service. About a month earlier, Atlantic Coast accused UAL of being in default on the contract, because it wasn't negotiating new rates in "good faith."
Chicago-based UAL filed for federal bankruptcy protection in December.
Updated July 2, 2003 11:09 a.m.
