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New Pact Bodes Well For Mesaba Sale

Law360 (January 10, 2007, 12:00 AM EST) -- Northwest Airlines has inched closer to purchasing Mesaba Airlines Inc. after tentatively reaching a deal with the embattled carrier’s parent company MAIR Holdings Inc. regarding the proposed $145 million sale.

On Tuesday, Northwest and MAIR Holdings confirmed that they had arrived at an agreement in principle over the Mesaba deal, but refused to provide further details.

"Northwest continues to believe that the proposed transaction would be in the best interest of Mesaba’s creditors, its employees and the many customers who depend on Mesaba," the airline said...
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