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Oak Point Partners, LLC acquires remnant assets of the Midway Airlines Corporation, et al., Bankruptcy Estates

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December 3, 2008 – Oak Point Partners acquired the remnant assets of the Midway Airlines Corporation, et al., Bankruptcy Estates in December 2008. On August 13, 2001, Midway Airlines Corporation and its related entities (“Midway Airlines”) filed a chapter 11 petition in the United States Bankruptcy Court for the Eastern District of North Carolina, assigned case No. 01-02319. The case was converted to a chapter 7 bankruptcy and a Trustee was appointed to wind down the Midway Airlines estates.

About Midway Airlines Corporation

Founded in 1993, Midway Airlines was an airline with 200 daily flights serving passengers flying between the Northeast and Southeast of the United States. Midway moved from Chicago to North Carolina in 1995. Midway competed in the low-fare flight market with other carriers, such as Southwest Airlines and AirTran Airways. Initially flying only Fokker 100 aircrafts, the company eventually relied on the higher seating capacity of their Boeing 737-700s. The drop in business travel combined with reduced air traffic growth and high fuel cost was what Midway claimed to hurt the company the most. At its height, the company employed over 1,700 people and had flights to 35 cities in 19 states.

Midway Airlines also operated under the trade name Jet Express.

The former headquarters of Midway Airlines was located in Morrisville, NC.

Related Entities: Bader Express Service, Carolina Class Service, Jet Express, Inc., Meridian Magazine, Midway Airlines Parts, LLC, Midway Vacations

Midway Airlines Corporation – OPP Sale Order

The post Oak Point Partners, LLC acquires remnant assets of the Midway Airlines Corporation, et al., Bankruptcy Estates appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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