ProAir eyes public - Detroit-based ProAir plans to go public this year. The new entrant carrier is completing its final, $30 million, private placement and is planning an initial public offering. ProAir, which has received a fourth Boeing 737 and plans to add five this year, aims to add to corporate travel agreements like the five-year deals it has with Chrysler and General Motors.
Midway loses way - Standard & Poor sees difficulties ahead for Midway Airlines, after Southwest Airlines announced plans to begin services from the carrier's Raleigh Durham, North Carolina, hub in June. S&P believes Southwest's low fares will reduce Midway's yields and revenues and constrain its growth.
Cargo airports ally - The operators of Washington Dulles International Airport and France's Chateauroux-Deols Airport have signed an air cargo alliance agreement. This is described as the first step in the creation of a worldwide organisation of airports to promote and develop air cargo and logistics businesses.
Delta-Atlantic okayed - Delta Air Lines' proposed acquisition of affiliate Atlantic Southeast Airlines has received anti-trust clearance from the US Federal Trade Commission.
TWA tackles costs - Trans World Airlines' new chief executive has pledged to make the carrier profitable after 10 years of losses. Bill Compton, promoted from executive vice-president of operations to replace former chief executiveGerald Gitner, plans to focus on reducing unit costs and increasing unit revenues.
Shugrue dies - Martin Shugrue, who held executive positions at Continental Airlines, Eastern Airlines and Pan American world Airways, died of a brain haemorrhage on 7 March. He was 58. Shugrue had been executor of both the Eastern and Pan Am estates.
Source: Airline Business
