Mesaba Seeks New DIP Lender

Law360, New York (April 21, 2006, 12:00 AM EDT) -- Defunct regional airline carrier Mesaba Aviation Inc. is seeking bankruptcy court permission to pay the expenses for new debtor-in-possession lenders, after MAIR Holdings Inc., the original financier, lapsed on its financing commitment.

Mesaba, the regional partner of Northwest Airlines Corp., expressed in court papers filed with the U.S. Bankruptcy Court for the District of Minnesota that if it doesn’t obtain a DIP loan soon, “it will be unable to operate its business in the normal course post-petition.”

When Mesaba filed for Chapter 11 last October, the...
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