by
egw
Midwest Death Watch
Midwest Death Watch: Northwest Writes Off Its Midwest Investment
August 8, 2008 at 11:45 AM | 1 Comment
More bad news for the Milwaukee-based airline: Northwest Airlines' 47-percent share in the carrier has lost so much value that NWA has written off its $213 million investment in Midwest Airlines, which it bought with TPG Capital in January.
Paying passenger traffic for Midwest also dropped 16 percent in July compared to last year's numbers with 324,002 brave souls taking the ailing carrier. Northwest ended up buying Midwest to keep budget carrier AirTran from gaining a toehold in Milwaukee; now it's looking like they just ended up with a white elephant.
Related Stories:
· Northwest Writes off Midwest Investment [Milwaukee JS]
· Midwest Passenger Loads Down in July [Biz Journals]
· Midwest Death Watch coverage [Jaunted]
[Photo: md11forever]
by
egw
1 Comment
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