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Mesaba bankruptcy plan approved

SAN FRANCISCO -- Mesaba Airlines, a subsidiary of MAIR Holdings Inc., said a bankruptcy court confirmed the airline's plan of reorganization. The plan implements a stock purchase and reorganization agreement with Northwest Airlines Corp., under w...

SAN FRANCISCO -- Mesaba Airlines, a subsidiary of MAIR Holdings Inc., said a bankruptcy court confirmed the airline's plan of reorganization.

The plan implements a stock purchase and reorganization agreement with Northwest Airlines Corp., under which Minneapolis-based Mesaba would become a subsidiary of Eagan, Minn.-based Northwest.

Mesaba plans to exit Chapter 11 bankruptcy protection in the final week of April, when the plan becomes effective and the acquisition by Northwest will close.

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