Local News

Midway Airlines Receives Buyout Offer

Posted Updated
Switch to classic wral.com

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.

 Credits

Tom Lawrence, Reporter
Michelle Singer, Web Editor

Copyright 2022 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

ImageFeedback