SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) February 11, 2000
MIDWAY AIRLINES CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
000-23447 36-3915637
(Commission File Number) (IRS Employer Identification No.)
2801 Slater Road, Suite 200
Morrisville, North Carolina 27560
(Address of principal executive offices) (Zip Code)
(919) 595-6000
(Registrant's telephone number, including area code)
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Item 5. Other Events.
The impact of the January 2000 winter storms in Raleigh-Durham, North
Carolina on the Company's financial results has not yet been analyzed in detail,
but the loss of revenue resulting from these storms was in the area of $4.0
Million. The Company issued the press release filed herewith as Exhibit 99 in
connection with the foregoing.
Item 7. Financial Statements, Pro Forma Financial Information and
Exhibits
(c) Exhibits
99 Press Release, dated February 11, 2000
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
MIDWAY AIRLINES CORPORATION
By: /s/ Jonathan S. Waller
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Dated: February 14, 2000 Jonathan S. Waller
Senior Vice President
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Exhibit 99.
(MIDWAY AIRLINES LOGO)
FOR IMMEDIATE RELEASE Media Contact:
Steven Westberg
Executive Vice President and
General Manager
(919) 595-6011
MIDWAY AIRLINES REPORTS JANUARY TRAFFIC
RALEIGH-DURHAM, N.C. - February 11, 2000 - Midway Airlines Corporation
(Nasdaq: MDWY) (www.MidwayAir.com) today announced a January load factor of
58.6%, an increase of 0.6 percentage points over January 1999. January passenger
traffic increased 8.2 percent year-over-year to 75.5 million revenue passenger
miles, while available seat miles increased 7.0 percent to 128.7 million. The
number of passengers carried increased 6.9 percent to 149 thousand.
" While the load factor was a record for a January, it came on top of
an extremely difficult month," said Steven Westberg, Midway's Executive Vice
President and General Manager. "Several winter storms impacted our
Raleigh-Durham operations, the worst of which was a record 20 inch snowfall that
closed the airport for three days. As a result, we were forced to cancel roughly
15 percent of our flights. The impact on Midway's financial results has not yet
been analyzed in detail, but the revenue loss is in the area of $4 million."
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Looking forward, Midway's February schedule includes new service from
Raleigh/Durham to Rochester, NY, and increased flight frequencies from
Raleigh-Durham to Atlanta, Orlando, Philadelphia, Hartford, Columbus, Newburgh,
NY, Charleston, SC, and Myrtle Beach, SC. As a full-service carrier, Midway and
its commuter partner operate 232 daily non-stop flights between its hub at
Raleigh-Durham International Airport and 25 destinations in 15 states. The
Company flies one of the youngest all-jet fleets in the world, with an average
age of 2.3 years.
January 2000 January 1999 Variance
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Available Seat Miles (millions) 128.7 120.3 7.0%
Revenue Passenger Miles (millions) 75.5 69.8 8.2%
Load Factor 58.7% 58.0% 0.7 points
Onboard Passengers (thousands) 148.6 139.0 6.9%
The comments made in this release regarding first quarter financial
results are "forward-looking statements." Such statements involve risks and
uncertainties that could cause actual results to differ from those contained in
the forward-looking statements. A discussion of such risks and uncertainties is
provided in the Company's 1998 report on form 10K.
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