MAIR subsidiary to liquidate

By Lisa Kerner

Charlotte, N.C., March 12 - MAIR Holdings, Inc. subsidiary Big Sky Airlines ceased all operations effective at midnight ET on Saturday, it was reported in a schedule 13D filing with the Securities and Exchange Commission.

Big Sky announced in December that it was stopping its eastern U.S. operations in an attempt to transition its services in the West to another carrier.

However, it was not feasible to continue operating Big Sky during the transition period.

According to the filing, MAIR will focus on liquidating Big Sky's assets and minimizing its liabilities.

Management will prepare a liquidation plan, with the goal of returning cash to MAIR shareholders.

Minneapolis-based MAIR operates as a holding company that offers regional air carrier services.

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