Local News

New Investors for Midway Airlines

Posted January 15, 1997

— A major investment team is apparently working on acquiring a piece of Midway Airlines, and the money that comes with the investment could increase Midway's flights in and out of RDU International Airport.

Rumors of a Midway deal have been circulating for months, but now the principals in the deal tell WRAL TV that an agreement is apparently in the works. Midway's current owner, Chicago investor Sam Zell, is making a deal with a Triangle investment group to sell his major interest in the airline. A spokesman for Zell says after the deal is done, the local investment group with be "very bullish at RDU. They definitely want to expand service there."

RDU International Director John Brantley says such a deal will only be good for this area.

Brantley says a financially stable Midway would be a very welcome addition to RDU, but that airport officials are in a "wait-and-see" mode.

President and CEO of Midway, John Selvaggio, confirms that a deal will be signed in the next day or so.

"It will be a good thing for everyone involved," he said.

There is speculation that the head of the local group is Jim Goodnight, rumored to be the wealthiest man in North Carolina. Goodnight is the owner of SAS, one of the world's largest software companies, located in Cary. He would not comment on the Midway deal.

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