Midwest Air Plans for Stand-Alone Future

MILWAUKEE (AP) -- Midwest Air Group Inc. said Wednesday it plans to increase capacity 15 percent this year as part of its plans to improve profitability and go forward as a stand-alone company.

Last month Midwest rejected a $290 million takeover offer from AirTran Holdings, which the board said significantly undervalued the company.

In order to increase capacity, Midwest said it will forge ahead with a number of initiatives announced in recent weeks, including an agreement with SkyWest airlines to operate jet service from Milwaukee and Kansas City beginning in April.

Over the long-term, the company is considering other strategic moves, including replacement of its MD-80 fleet and reconfiguring the interior of its aircraft.

Midwest's plans are in an investor presentation it's filing with the Securities and Exchange Commission.

Shares of Midwest hit a new 52-week high of $12.35 in morning trading on the American Stock Exchange before descending to $11.69, down 41 cents or 3.4 percent.

News stories provided by third parties are not edited by "Site Publication" staff. For suggestions and comments, please click the Contact link at the bottom of this page.