Local News

New Investors for Midway Airlines

Posted Updated

RALEIGH — A major investment team is apparentlyworking on acquiring a piece of Midway Airlines, and the money that comeswith the investment could increase Midway's flights in and out of RDUInternational Airport.

Rumors of a Midway deal have been circulating for months, but now the principals in the deal tell WRAL TV that anagreement is apparently in the works. Midway's current owner, Chicagoinvestor Sam Zell, is making a deal with a Triangle investment group tosell his major interest in the airline. A spokesman for Zell says afterthe 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 begood for this area.

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

President and CEO of Midway, John Selvaggio, confirms that a deal willbe 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 JimGoodnight, rumored to be the wealthiest man in North Carolina. Goodnightis the owner of SAS, one of the world's largest software companies,located in Cary. He would not comment on the Midway deal.

Image

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 This material may not be published, broadcast, rewritten or redistributed.