Northwest Airlines officials say they’ve all but finalized an agreement to buy their feeder carrier that serves several Iowa cities. Northwest officials say they?ve negotiated an agreement with Mesaba Airlines and its unsecured creditor committee to buy the regional air carrier.
The deal apparently bypasses Mesaba’s owner, MAIR Holdings, and calls for 145 million dollars to go to Mesaba’s bankruptcy estate, of which MAIR is a creditor. An attorney for Mesaba’s creditors says the deal also includes ten million in cash for Mesaba’s use as operating money.
Bankruptcy judges in both cases would need to approve the deal. Mesaba’s Northwest Airlink is the only commercial service to the Mason City and Fort Dodge airports.