Manufacturing Industry
Midway Airlines may be liquidated
Airline Industry Information, Oct 30, 2003
AIRLINE INDUSTRY INFORMATION-(C)1997-2003 M2 COMMUNICATIONS LTD
Midway Airlines may be liquidated depending on a decision reached by Bankruptcy Court Judge A. Thomas Small during a hearing scheduled for today (30 October).
The judge postponed a decision on whether to convert the company's Chapter 11 organisation case to a Chapter 7 bankruptcy three weeks ago. A Chapter 7 bankrupt would require the airline to shut down and sell its assets.
The decision on the filing is expected to be based on whether the carrier and its 85 pilots form a last minute agreement, reported The Associated Press.
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