airTran Directors voted in, Midwest wants to talk

[FlyWolf]

Wow, big news, hot off the press

airTran three Board members are elected in, Midwest will listen to airTran make presentation on merger

http://biz.yahoo.com/prnews/070614/aqth090.html?.v=9

 

[Eagle757shark]

Midwest Air Group Announces Preliminary Director Election Results and Next Steps
Thursday June 14, 11:32 am ET
MILWAUKEE, June 14 /PRNewswire-FirstCall/ -- Midwest Air Group, Inc. (Amex: MEH - News), parent company of Midwest Airlines, today announced that based on a preliminary review of the proxies voted at today's annual meeting, it appears that shareholders have elected three directors nominated by AirTran Holdings, Inc. (NYSE: AAI - News) to Midwest's board of directors. The Midwest board consists of nine directors.
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The company also announced that its board has determined it will permit AirTran Holdings to make a presentation to the Midwest Air Group board regarding AirTran's proposal. The board noted that it has made no determination to engage in negotiations with AirTran. No date for the session has been established.
Timothy E. Hoeksema, chairman and chief executive officer, stated that the election of directors constitutes a definitive action by shareholders. "While we are disappointed by today's results, we recognize that our shareholders have spoken. If today's election says anything at all, it says that our shareholders want us to listen and that is what we intend to do. The board remains fully committed to creating value for Midwest shareholders."
The results of the election of directors will be official when the Inspector of Election provides the Midwest corporate secretary a certified report of election results, which are expected to be reported June 26. The company is planning a comprehensive orientation for the new directors to take place after the voting results are certified.
"The new directors, along with the entire board, will be fully accountable to all Midwest Air Group shareholders," concluded Hoeksema.
Midwest Airlines features jet service throughout the United States, including Milwaukee's most daily nonstop flights and best schedule to major destinations. Catering to business travelers and discerning leisure travelers, the airline earned its reputation as "The best care in the air" by providing passengers with impeccable service and onboard amenities at competitive fares. Both Skyway Airlines, Inc. -- a wholly owned subsidiary of Midwest Airlines -- and SkyWest Airlines, Inc. operate as Midwest Connect and offer service to and connections through Midwest Airlines' hubs. Together, the airlines offer service to 51 cities. More information is available at http://www.midwestairlines.com.
This news release contains forward-looking statements about the results expected under the company's strategic plan and that otherwise may state the company's or management's intentions, hopes, beliefs, expectations or predictions for the future. Words such as "project," "expect," "anticipate," "predict," "believe," "estimate," "goal," "plan," "objective" or similar words are intended to identify forward-looking statements. It is important to note that the company's actual results could differ materially from the projected results contained in these forward-looking statements. Factors that may cause such a difference to occur include, but are not limited to, fees and expenses incurred in connection with AirTran's unsolicited exchange offer, customer acceptance of the company's strategic plan, the company's ability to successfully implement the strategic plan, an adverse industry yield environment, and the risk factors described in "Item 1A. Risk Factors" in the company's "Annual Report on Form 10-K" for the year ended December 31, 2006.
Important Additional Information
Midwest filed a Schedule 14D-9 with the Securities and Exchange Commission on January 25, 2007 and subsequent amendments which set forth the reasons for the Midwest board's recommendation with respect to the unsolicited exchange offer by AirTran Holdings, Inc. and related information.



Source: Midwest Air Group, Inc.

 

[FlyWolf]

MEH stock shot up over $15.

 

[twepilot]

what are all these damn cookie crumbs on the floor????

RV

 

[Yuppyguppy]

unbelievalble hostile takeover. Well can't wait until the merger mania starts cause it will

 

[Heavy Set]

Small airlines will be allowed to merge by the Gov't (or big ones acquiring small ones), but large mergers won't happen. There will be too much economic impact with large mergers on smaller communities. The big fish will swallow the smaller fish.

 

[mnboyev]

I liked the 'fish' we used to serve on AAI ... nothing lasts too long.... including our TA !!

 

[Lear70]

Our acquisition of Midwest might take us off the menu for a SWA acquisition, should that be the direction they were leaning.

Said it before, buying Midwest dirties up our balance sheet enough to make us less palatable than other airlines might be for them.

Who knows,,, the only thing that surprises me is that Hoeksema actually said they'd entertain the presentation. Might make it all happen sooner than later.

One of the things that came out at the roadshow today is that the NPA is still scared the company will buy Midwest and try to claim that Midwest is the "surviving carrier". Who purchased who? GMAFB...

Hope we get our shiznit straightened out before all this goes down.

 

[johnsonrod]

Our acquisition of Midwest might take us off the menu for a SWA acquisition, should that be the direction they were leaning.

Said it before, buying Midwest dirties up our balance sheet enough to make us less palatable than other airlines might be for them.

Who knows,,, the only thing that surprises me is that Hoeksema actually said they'd entertain the presentation. Might make it all happen sooner than later.

One of the things that came out at the roadshow today is that the NPA is still scared the company will buy Midwest and try to claim that Midwest is the "surviving carrier". Who purchased who? GMAFB...

Hope we get our shiznit straightened out before all this goes down.

Well, if the SWA merger does not happen, you will need to put your 60+ 737-700s somewhere.... MKE might be part of the answer. Regardless, there is way too much capacity coming onto the market - I think the LCCs are about to enter a competitive blood bath and some form of consolidation will be necessary.

 

[Citrusflyer]

Our acquisition of Midwest might take us off the menu for a SWA acquisition, should that be the direction they were leaning.

Said it before, buying Midwest dirties up our balance sheet enough to make us less palatable than other airlines might be for them.

Who knows,,, the only thing that surprises me is that Hoeksema actually said they'd entertain the presentation. Might make it all happen sooner than later.

One of the things that came out at the roadshow today is that the NPA is still scared the company will buy Midwest and try to claim that Midwest is the "surviving carrier". Who purchased who? GMAFB...

Hope we get our shiznit straightened out before all this goes down.

Actually Midwest being the surviving carrier is not all that far fetched. After all VJ bought Airtran, and Airtran was the surviving carrier...
...same with America West/US Air. Our mgt has a lot of experience in doing just that. This whole TA fight could be "much ado about nothing."

As for us getting our shiznit straightened out, don't count on that, the BoD doesn't even support, let alone represent us.