Mesaba says it will file plan of reorganization by Friday

By Jennifer Lanning Drey

Portland, Ore., Jan. 18 - Mesaba Aviation, Inc. pushed back the expected filing date for its plan of reorganization to Jan. 19 from Jan. 17 in order to work out a few minor details of the plan, Elizabeth Costello, a spokesperson for Mesaba, said Thursday.

The plan is expected to incorporate Mesaba's stock purchase and reorganization agreement with Northwest Airlines Corp., and Mesaba is confident that the filing delay will not have any effect on the deal, Costello said.

"[Northwest was] aware that we were asking for the delay, and they understood why," she said.

Under the Northwest agreement, Mesaba will issue 100% of the 1,000 shares of new common stock in the reorganized company to Northwest. In exchange, Mesaba will have a $145 million general unsecured claim against Northwest.

Mesaba, an Eagan, Minn.-based Northwest Airlines affiliate, filed for bankruptcy on Oct. 13, 2005. Its Chapter 11 case number is 05-39258.

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