Midwest Express plans to temporarily suspend aircraft lease and debt payments

Airline Industry Information, March 10, 2003

AIRLINE INDUSTRY INFORMATION-(C)1997-2003 M2 COMMUNICATIONS LTD

Midwest Express Holdings is reportedly holding negotiations to temporarily suspend lease and debt payments on a number of aircraft.

Under a previously announced cost-cutting plan, Midwest Airlines - operated by Midwest Express Holdings - will suspend payments until 7 June 2003 on its DC-9, MD-80, 328JET and Beech 1900 aircraft. The measure is expected to enable the carrier to renegotiate terms and conditions.

The company is planning to present a proposal to its aircraft lessors and other creditors on 13 March, reported Reuters.

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