P.M. BRIEFING : Midway Airlines Delays Sale
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CHICAGO — Midway Airlines Inc. said today that it agreed to delay closing on the planned sale of its Philadelphia operations to archrival USAir Group Inc. to give the Justice Department more time to review the deal.
Chicago-based Midway announced in October that it would sell its costly Philadelphia expansion to USAir, the nation’s seventh-biggest carrier, for $64.5 million.
“We initially had indicated we thought the transaction would be completed before the first of December. . . . It now appears it will take a little longer,” a Midway spokeswoman said.
The deal was expected to face tough antitrust scrutiny since it would give USAir, already the largest operator in Philadelphia, more landing slots, authority for routes to Toronto and Montreal, 11 gates and other facilities.
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