Northwest Writes Off Midwest Investment

In yet another sign that the end may be near for Midwest, Northwest Airlines wrote off its $213 million investment in the carrier – a move that suggests Midwest actually may be worthless at this point.  MIdwest also just announced declines in passenger traffic for July, a month when most airlines are seeing strong growth.  Looks like we’re heading to a sad end for a once great little airline.

1 Comments.

  1. This was obviously the plan from day one for Northwest: pay off Midwest President (10.4 million is stock options)and pull the strings to let Midwest die without putting any blame on NW. They in effect bought the Miwaukee market for 240 million dollars.

    This wasn’t a buyout, this was an execution.

    Maybe the people in SE Wisconsin will one day wake up and see t how they were fooled and call the US DA’s office to investigate.