This article from NYTimes.com has been sent to you by psa188@xxxxxxxxx /-------------------- advertisement -----------------------\ Explore more of Starbucks at Starbucks.com. http://www.starbucks.com/default.asp?ci=1015 \----------------------------------------------------------/ Midway Airlines to Fight Liquidation April 18, 2003 By THE ASSOCIATED PRESS Filed at 1:45 p.m. ET MORRISVILLE, N.C. (AP) -- Midway Airlines says it will fight a court official's motion that the company be liquidated, citing a commitment from investors it needs to get out of bankruptcy. The bankruptcy administrator overseeing Midway's case filed a motion earlier this week recommending that the airline be liquidated. The motion said Midway, operating from Raleigh-Durham International Airport, hadn't been able to raise a $5 million investment. The motion would have to be approved by U.S. Bankruptcy Court Judge A. Thomas Small. A hearing has not been set. Midway chief executive Robert Ferguson said in a prepared statement Thursday that an investment group has made a written offer to provide up to $20 million for the airline. The twice-grounded carrier is trying to become a commuter feeder for US Airways. Ferguson wrote that the only way for creditors to be repaid anything is for Midway to continue working to reduce debt while it reorganizes under Chapter 11 protection. Midway continues to lose money under bankruptcy protection, according to recent expense filings. The company lost $50,000 in January and $625,000 in February. Midway once had 40 planes and 2,700 employees. It now operates five 50-seat regional jets and will get two more next month, Ferguson said, and has 201 employees. http://www.nytimes.com/aponline/business/AP-Midway.html?ex=1051691143&ei=1&en=c3d1eb14681002ed HOW TO ADVERTISE --------------------------------- For information on advertising in e-mail newsletters or other creative advertising opportunities with The New York Times on the Web, please contact onlinesales@xxxxxxxxxxx or visit our online media kit at http://www.nytimes.com/adinfo For general information about NYTimes.com, write to help@xxxxxxxxxxxx Copyright 2003 The New York Times Company