Midwest Express discusses restructuring with aircraft lessors

By Carlise Newman

Chicago, March 14 - Midwest Express Holdings Inc. said it met Thursday with aircraft lessors and debt providers to present a restructuring proposal for obligations on the financed portion of the airline holding company's fleet. The discussions are part of the company's plan to save more than $4 million monthly, with restructuring of aircraft-related obligations a part of the targeted savings.

As of March 13, the company had an unrestricted cash position of $31 million.

Previously the company announced a 100-day suspension of aircraft lease and debt payments in order to renegotiate the obligations to bring them in line with market conditions and better reflect the reduced market values of the aircraft.

The company continues to pay other financial obligations in full and on time.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.