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  • From: Rafe Colburn <rafeco AT rc3.org>
  • To: InterNetWorkers <internetworkers AT franklin.oit.unc.edu>
  • Subject: Re: Midway throws in the towel
  • Date: Wed, 12 Sep 2001 13:44:09 -0400


On Wed, Sep 12, 2001 at 01:42:14PM -0400, David Minton wrote:

> Probably as much as burning through money as the planes sit on the
> runways. There is no guarantee that the FAA will lift the flight ban
> today, or tomorrow, or the day after that. They are probably trying to
> cut their losses.
>
> David
>
> On 9/12/01 1:38 PM, "Rafe Colburn" <rafeco AT rc3.org> wrote:
>
> > Midway announced today that it's laying off its remaining 1700
> > employees and canceling all future flights.
> >
> > I wonder if this is related in any way to yesterday's events
> > (anticipation of future costs associated with heightened security or
> > something).

I looked for a story on the News and Observer site, and indeed,
considerations surrounding yesterday's events prompted the move:

The Morrisville-based airline, which had 65 daily departures from
Raleigh-Durham International Airport, said it had to shut down all
flights "to preserve the value available for Midway's interest holders"
with the recognition that ridership would decline following Tuesday's
terrorist attacks on New York and Washington.

"We are deeply troubled by the impact this action will have on our
customers, employees, creditrs and community," Midway said in a
statement. "Unfortunately we simply do not have the resources necessary
to permit us to reorganize in this environment."

http://www.newsobserver.com/wednesday/front/Story/819262p-812841c.html

--Rafe




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