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Midway Airlines Receives Buyout Offer

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CARY — Cary-basedMidway Airlineshas received a buyout offer from two major stockholders.

James Goodnight and John Sall, who rescued Midway from bankruptcy a few years ago, say they will offer $8 a share for the 4.7 million shares outstanding.

Goodnight and Sall now own more than 47 percent of the stock. Midway's stock price was at $6.125 per share Friday.

Midway CEO Robert Ferguson says if the airline board approves the buyout Thursday, Midway would become part of a new corporation set up by Goodnight and Sall.

Ferguson also told WRAL-TV News he expects no change in Midway operations if the proposal is accepted.


Tom Lawrence, Reporter
Michelle Singer, Web Editor

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