Midwest CEO: AirTran's business is 'deteriorating'
Comments come after AirTran lays out post-merger growth plans
By RUSSELL GRANTHAM
The Atlanta Journal-Constitution
Published on: 02/28/07
AirTran Airways' takeover bid for Midwest Airlines is a desperate move to shore up its own "deteriorating" business, Midwest's chief executive said Wednesday.
"AirTran's low-cost business model is in trouble," Midwest CEO Timothy Hoeksema said in a letter to his company's shareholders. "By virtually any metric, AirTran's business is deteriorating. AirTran is desperate to buy Midwest and stave off further erosion of its business."
The letter, which contained Midwest's sharpest rhetoric yet in the takeover battle, came after AirTran on Monday laid out plans to build a Milwaukee hub if the takeover succeeds. AirTran, which has its main hub in Atlanta, promised a 215-flights-per-day hub in Milwaukee that would significantly boost the city's air service and add jobs and activity to the local economy.
full story
Comments come after AirTran lays out post-merger growth plans
By RUSSELL GRANTHAM
The Atlanta Journal-Constitution
Published on: 02/28/07
AirTran Airways' takeover bid for Midwest Airlines is a desperate move to shore up its own "deteriorating" business, Midwest's chief executive said Wednesday.
"AirTran's low-cost business model is in trouble," Midwest CEO Timothy Hoeksema said in a letter to his company's shareholders. "By virtually any metric, AirTran's business is deteriorating. AirTran is desperate to buy Midwest and stave off further erosion of its business."
The letter, which contained Midwest's sharpest rhetoric yet in the takeover battle, came after AirTran on Monday laid out plans to build a Milwaukee hub if the takeover succeeds. AirTran, which has its main hub in Atlanta, promised a 215-flights-per-day hub in Milwaukee that would significantly boost the city's air service and add jobs and activity to the local economy.
full story