New book by Larry Connors Click here Improve your trading - See how
The first group of a dozen Embraer 170 jets, leased from Indianapolis-based Republic Airways Holdings, will begin flying Midwest Connect routes. The airline on Monday provided a sneak preview of the new aircraft, which will be phased into the flight schedule through Nov. 15.
Republic, to secure the 10-year lease, is providing a one-year, $15 million loan to cash-strapped Midwest Airlines Inc., which also operates Midwest Connect. Republic has a separate loan commitment of another $10 million for Midwest if the company achieves certain financial goals.
Republic's $25 million in financing is part of up to $60 million in new cash for Midwest. The airline said the new cash, including commitments from majority owner TPG Capital, could help the company avoid a Chapter 11 bankruptcy filing.
But the Embraer 170s are replacing some Boeing 717 jets that Midwest Airlines uses, which is leading to layoffs of 270 Midwest employees. The Midwest pilots union has filed a grievance, claiming the company's hiring of Republic to operate the jets violates their labor contract.
Company executives say they believe the out-sourcing doesn't violate the contract. The company's plan is to rehire the furloughed flight crews and maintenance workers after they're trained on the new jets. That process will likely take eight months to a year.
The Embraer 170s are smaller and do not offer the signature wide seats the Boeing 717 jets have. But the Embraer 170s don't have the cramped interior of many regional jets. The ceiling height is 6 feet 7 inches in those jets, compared with 6 feet 1 inch in the Bombardier CRJ200s, the other regional jets used by Midwest Connect.
To see more of the Milwaukee Journal Sentinel, or to subscribe to the newspaper, go to http://www.jsonline.com. Copyright (c) 2008, Milwaukee Journal Sentinel Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
15260 Ventura Blvd., Ste. 2200
Sherman Oaks, CA 91403
© Copyright 2009 The Connors Group, Inc.
