SOURCE: Yahoo http://biz.yahoo.com/bizj/050908/1161204.html SkyWest wraps up ASA purchase from Delta Thursday September 8, 11:05 am ET SkyWest Inc. said it has completed the $425 million purchase of Atlantic Southeast Airlines Inc. from Delta Air Lines Inc. The deal calls for SkyWest (NASDAQ: SKYW - News) and ASA to continue flying as Delta Connection carriers through 2020. SkyWest paid $350 million in cash at closing, consisting of $330 million of the purchase price and $20 million relating to certain aircraft financing deposits Delta had previously paid. Delta (NYSE: DAL - News) will receive an additional $125 million if it files for Chapter 11 bankruptcy protection and assumes the ASA and SkyWest Airlines Delta Connection Agreements, or four years after closing of the transaction. The amount represents $95 million of the purchase price and $30 million relating to the return of certain aircraft financing deposits. SkyWest would be entitled to retain the escrow deposit if Delta files for bankruptcy and rejects its Delta Connection agreement with ASA or SkyWest Airlines prior to the fourth anniversary of the closing of this transaction. For the foreseeable future, SkyWest intends to operate SkyWest Airlines and ASA as wholly-owned subsidiaries, with separate labor groups and FAA operating certificates. SkyWest said it does not currently intend to make any significant changes to the operating schedules or aircraft deployment of either SkyWest Airlines or ASA. Combined, SkyWest Airlines and ASA will have primary hubs in Atlanta, Cincinnati, Chicago, Los Angeles, San Francisco, Salt Lake City, Denver, Portland, and Seattle/Tacoma. Published September 8, 2005 by the Cincinnati Business Courier