TPG Capital's Affiliate Acquires Midwest Air Group
Posted on: Monday, 4 February 2008, 06:00 CST
TPG Capital, a global buyout group, has announced that its affiliate Midwest Air Partners has acquired Midwest Air Group, the parent company of Midwest Airlines.
TPG's 15-year record of investing in the aviation industry includes Continental Airlines, America West, Ryanair, Hotwire.com, Gate Gourmet, Sabre and other well-known brands.
Midwest Air said that it will benefit from TPG's strength and expertise as the airline executes its comprehensive strategic plan in 2008. The plan includes the implementation of seating choice throughout the airline's mainline fleet; growth and enhancement of its existing codeshare agreement with Northwest Airlines; and the introduction of a wide-ranging environmental initiative.
As part of the initiative, Midwest will partner with Boulder to offer travelers environmentally responsible travel planning choices, including a carbon-offset program.
Timothy Hoeksema, chairman and CEO of Midwest Air Group, said: "We're looking forward to capitalizing on TPG's considerable experience in the airline industry to help us continue to meet, and exceed, the expectations of the traveling public."
Source: Datamonitor
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