Minnesota May Give Al Checchi A Big Check
Northwest Airlines chief Al Checchi landed one deal and bowed out of another. On Nov. 11, the state of Minnesota tentatively agreed to a $740 million financing package. Northwest will use $350 million of it to construct two maintenance bases in the state. The rest goes into Checchi's war chest. The likely target: Continental Airlines.
Highly unlikely target: Midway Airlines. On Nov. 13, Northwest announced that it wouldn't buy the bankrupt carrier because Midway had overstated its revenues. Midway denies the charge, but in any case, it probably won't remain aloft much longer.