Midwest Air Group, Inc. (Amex: MEH), parent company of Midwest Airlines, said that, as of August 2, it had entered into confidentiality agreements with four interested parties.
MILWAUKEE – The agreements were entered into following the formation of a committee of the airline holding company’s board of directors to explore strategic and financial alternatives that would serve to enhance value for the company’s shareholders. The confidentiality agreements will enable the interested parties to conduct due diligence investigations in evaluating a possible transaction with the company.
Due to the nature of the committee’s process, the company cannot commit to when it will comment further.
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 53 cities. More information is available at http://www.midwestairlines.com.
This news release contains forward-looking statements that may state the company’s or management’s intentions, hopes, beliefs, expectations or predictions for the future. Words such as „planned,“ „projecting,“ „expect,“ „should,“ „anticipate,“ „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 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 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.
