frenchee
17年前
After Friday's closing bell, AirTran Airways, a subsidiary of AirTran Holdings Inc., said its balance sheet is "ample" to fund operations, in light of the company's stock volatility. Shares of AirTran, which closed down 34.6% at $4.13, rebounded 29.3% to $5.34 in after-hours activity. AirTran said it has $358 million in cash and investments on its balance sheet. "AirTran Airways is one of the strongest low-cost carriers operating today," said Bob Fornaro, AirTran president and chief executive, in a statement. AirTran made the statement following a recent string of low-cost airlines that have folded because of high fuel prices.
Flatsixer
18年前
AirTran makes new offer on Midwest...link...
http://www.reuters.com/article/mergersNews/idUSWEN043520070814
"AirTran raises Midwest bid to $16.25 per share
Tue Aug 14, 2007 5:03PM EDT
NEW YORK, Aug 14 (Reuters) - AirTran Holdings Inc. (AAI.N: Quote, Profile, Research) said on Tuesday it raised its offer to buy rival Midwest Air Group Inc. (MEH.A: Quote, Profile, Research) to $16.25 a share, or about $445 million overall, exceeding the value of a buyout deal accepted by Midwest at the weekend.
The move comes in response to requests from Midwest shareholders, said AirTran, which has been pursuing Midwest for several months. Two institutional shareholders have publicly encouraged Midwest to do a deal with AirTran, despite the objections of Midwest's management.
On Sunday, Midwest accepted a $16 per share buyout offer from private equity firm TPG Capital, backed by Northwest Airlines Corp."
Flatsixer
Flatsixer
18年前
Airtran drops bid for Midwest...
"Sunday, August 12, 2007
Story last updated at 11:45 p.m. on Sunday, August 12, 2007
Midwest Air Group lets AirTran takeover offer expire
By DINESH RAMDE
Associated Press Writer
MILWAUKEE - AirTran Holdings Inc. dropped its $431 million takeover bid for Midwest Air Group on Sunday night, and Midwest immediately announced it would pursue an all-cash offer from private equity firm TPG Capital.
About two-thirds of the shareholders of Midwest, parent company of Midwest Airlines, had agreed to the cash-and-stock offer from Orlando, Fla.-based AirTran, which was estimated at $389 million when it was announced months ago. AirTran had offered $15.75 a share, which spokesman Tad Hutcheson said made the equity value of the transaction in excess of $431 million based on Friday's closing price of AirTran stock.
But the board of Milwaukee-based Midwest, which had fought AirTran's hostile offer for months, said instead it would move ahead with the offer of $16 per share from TPG Capital, formerly Texas Pacific Group.
AirTran, the parent company of AirTran Airways, will return to its strategy of growing as a standalone business, said David Hirschman, another spokesman.
"We've said all along that this is something we'd like to do, not something we need to do," he said of the proposed takeover. "We've got great growth prospects independently and that's what we're going to focus on."
AirTran's tender offer technically expired Friday at midnight but both sides had until the market opened Monday to reach a deal.
Midwest has fought AirTran's hostile bids since it offered $78 million in June 2005. But Midwest relented last month, signaling it would consider the latest offer as well as offers
from three other suitors."
http://www.jacksonville.com/apnews/stories/081207/D8QVT18G0.shtml
Mattu
23年前
This company was actually the first listed stock I bought.
I'm still intrigued by the whole concept of dirt cheap airfare and have believed that it is a model that has a certain place in America.
The company is still having a hard time recovering from the time it crashed in the Everglades, but there have been many many more crashes by other companies.
They've recently fired up NEW service in several towns, including mine (Tallahassee). Caught my attention amongst all the other ones folding up. Growth in an airline, eh?
AirTran Airways Announces It Will Not Apply for Federal Loan Guarantees
http://biz.yahoo.com/bw/020627/272013_1.html
That article kind of gets my mojo going. At $5/pop, I might buy a few shares.
Thoughts? I'm looking for a good 2-3 year hold play.
Haven't looked at financials. Only going on gut feeling on this one. Will take a look at balance sheet after I fill my gut with some steak and chicken tonight.
One more edit. Might be prudent to wait until after July 4th, though. All these FBI warnings about these flaming buttheaded terrorists kind of makes me shaky diving into anything this week.