Exhibit 99
[MIDWAY AIRLINES LOGO]
FOR IMMEDIATE RELEASE Media Contact:
Steven Westberg
Executive Vice President & General Manager
(919) 595-6011
Midway Airlines Closes Aircraft Financing
RALEIGH-DURHAM, N.C. - September 29, 2000 - Midway Airlines Corporation
(the "Company") (NASDAQ: MDWY) announced today the closing of the private sale
of $197,572,000 aggregate principal amount of Enhanced Equipment Pass Through
Certificates under Rule 144A of the Securities Act of 1933. The proceeds of the
sale of the Certificates will be used to finance the Company's lease or purchase
of eight (8) newly manufactured Boeing 737-700 aircraft. The aircraft are all
scheduled for delivery prior to the end of August 2001. The Certificates have
not been registered under the Securities Act and may not be offered or sold in
the United States absent registration under the Securities Act or an applicable
exemption.
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The Company also announced its acceptance of the first of these eight
Boeing 737-700 aircraft under its purchase agreement with The Boeing Company and
the simultaneous closing of a leverage lease transaction for that aircraft.
As a full-service carrier, Midway Airlines and its commuter partner
operate 244 daily non-stop flights between their hub at Raleigh-Durham
International Airport and 26 destinations in 15 states.
The comments made in this release regarding future events are
"forward-looking statements." Such statements involve risks and uncertainties
that could cause actual events or results to differ from those contained in the
forward-looking statements. A discussion of such risks and uncertainties is
provided in the Company's 1999 report on form 10K.
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