TPG did a few things during its ownership of Midwest...
1. They started new (5+) private companies or private investment groups. Delta could be partners in one of them.
2. They returned or sold all the Midwest aircraft because the new airline needed 100 seat production aircraft for growth (B717 and MD80 are out of production)
3. They changed the accounting system to take tax/paper losses to use as a deduction against other income. Value of about 190 million to TPG.
4. Started the one way Delta code-share. Midwest will feed the Delta system. I mean, that is all regionals do anyway.
5. They merged TPG Midwest with Republic. TPG and Republic are partners in a new national airline. Delta gets a 100 seat regional feed without paying for the equipment.
The airline pilot profession is being undermined. The Republic Teamsters need to require industry average wages and benefits for all aircraft over 76 seats. This still leaves the junior Delta pilots in trouble.
Last edited by MD80; 08-29-2009 at 10:00 AM.