Company Watch - AirTran Airways.Jun 18, 2007 AirTran Airways AirTran Airways is a low-cost airline that is a Delaware corporation with headquarters in Orlando, Florida, USA and is a subsidiary of AirTran Holdings. AirTran operates over 750 daily flights throughout the eastern USA and the Midwest, including over 270 daily departures from flew 1.47 billion RPMs in May, a 22% surge from the year-ago month. Capacity was up 21% to 1.92 billion ASMs, lifting load factor 0.6 point to 76.4%. Jun 11, 2007 AirTran Extends Offer For Midwest AirTran extended its takeover offer of USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $15 a share for Midwest Air until August 10 and said on Monday it was dismayed that Midwest's board continued to oppose such a deal. Jun 11, 2007 Midwest Air, which is trying to fend off Verb 1. fend off - prevent the occurrence of; prevent from happening; "Let's avoid a confrontation"; "head off a confrontation"; "avert a strike" deflect, forefend, forfend, head off, avert, stave off, ward off, avoid, debar, obviate a hostile takeover Hostile Takeover A takeover attempt that is strongly resisted by the target firm. Notes: Hostile takeovers are usually bad news, as the employee moral of the target firm can quickly turn to animosity against the acquiring firm. by AirTran, said on Tuesday second-quarter earnings will fall short of analysts' expectations and may be lower than a year earlier because of weak fares. Midwest, which has spent more than USD$2.6 million defending itself against AirTran, said the expected earnings shortfall is primarily due to industrywide in·dus·try·wide adv. & adj. Throughout an entire industry: sales that have decreased industrywide; industrywide cooperation. pricing weakness, which may continue for some time. The pricing weakness will likely affect full-year earnings, but Midwest said it was unable to determine the impact and therefore suspended sus·pend v. sus·pend·ed, sus·pend·ing, sus·pends v.tr. 1. To bar for a period from a privilege, office, or position, usually as a punishment: suspend a student from school. its previous 2007 earnings forecast of USD$1.30 to USD$1.50 per share. The second and third quarters, boosted by spring and summer travel, are traditionally strong periods for the US airline industry. Jun 13, 2007 AirTran extended its takeover offer of USD$15 a share for Midwest Air until August 10 and said on Monday it was dismayed that Midwest's board continued to oppose such a deal. AirTran, parent of low-cost airline AirTran Airways, in April increased its hostile offer for Midwest to USD$15 per Midwest share from an original USD$11.25. Midwest remained steadfast in its opposition to AirTran's bid and said it would continue to oppose the takeover regardless of the outcome of AirTran's tender offer. Midwest believes it can boost annual revenue by more than USD$200 million through measures such as a larger fleet and a new code-share agreement with Northwest Airlines. Jun 13, 2007 AirTran Holdings AirTran Holdings (NYSE: AAI) is a Nevada corporation that operates as an airline holding company. Its primary asset is AirTran Airways. History After the large amount of negative publicity surrounding the Flight 592 incident, ValuJet Airlines suffered serious once again extended its tender offer to Midwest Air Group Midwest Air Group, Inc. AMEX: MEH is an airline holding company based in Oak Creek, Wisconsin now controlled by parent company, TPG Capital Texas Pacific Group. Northwest Airlines Inc,. shareholders, this time through Aug. 10. When the third extension expired on June 8 , Midwest shareholders had agreed to tender 59.5% of outstanding shares, or 64.1% of the outstanding shares not held by members of Midwest's board or management. AirTran's current offer values Midwest at $389 million. Jun 12, 2007 Midwest Air, which is trying to fend off a hostile takeover by AirTran, said on Tuesday second-quarter earnings will fall short of analysts' expectations and may be lower than a year earlier because of weak fares. Jun 12, 2007 Editorial eMail: edit@AirGuideOnline.com For Air Transport & Travel Business Experts contact our Director of Content Aram Gesar eMail: bizintel@AirGuideOnline.com For more global news, reviews, features and analysis, please subscribe to Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day" subscribe, take buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; our Newsletters: http://www.airguideonline.com/order_formsubs.htm#news To Advertise: advert@AirGuideOnline.com AirGuideFlightTracker is a new service that keeps travelers informed on flight and airport status via the Web. For more go to http://www.airguideonline.com/airline_tracker.htm Copyright [c] 2007 Air Travel Media / Pyramid Media Group. All rights reserved. |
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