Air Transport World

Midway may be sold.

Midway Airlines, the Raleigh-Durham-based niche carrier, has retained the investment banking firm of Morgan Stanley Dean Witter to evaluate a merger proposal received from two primary shareholders.

James Goodnight and John Sail, owners of 47.4% of the airline's common stock, have offered to buy the remainder for $8 a share. Last month the stock was trading at around $7.50 a share. If the buyout is approved, Goodnight and Sail would merge Midway into a company they both own.

Midway CEO Bob Ferguson could not comment on the proposal or its effect on the airline but said he was pleased with progress over the last year. …

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