Midway Airlines has secured a $10 million loan. The North Carolina-based US regional filed for Chapter 11 bankruptcy protection on 13 August and needed the $10 million to keep it afloat for the near term (Flight International, 21-27 August). The regional is borrowing the money from Connecticut-based venture capital company Wexford Capital, which in return is looking to participate in a possible sale of Midway. The regional has laid off half of its 1,400 workforce and grounded almost half its fleet following a $15 million loss for the first six months of the year.
Source: Flight International