[2] After the large amount of negative publicity surrounding the Flight 592 disaster, ValuJet Airlines suffered serious financial problems.

[12] In response to AirTran's overtures, Midwest Air Group has stated publicly that it believes that it can maximize shareholder value as a stand-alone company.

The company also has reiterated that its strategic business plan will offer superior value to shareholders by capitalizing on current industry conditions while remaining true to Midwest's commitment to customer service excellence.

[12] In May 2007, an independent securities expert William McGinnis, CFA, published an analysis of board of directors responsibilities related to hostile takeover offers.

Pequot Capital Management, which owns 8.8% of Midwest, had been unhappy with the TPG Capital offer, as they felt that AirTran's cash and stock offer would result in greater gains because they felt AirTran's stock would rise in value once the acquisition of Midwest was completed.

[19] The companies operated separately for a period of time until the absorption of the owned and leased aircraft within AirTran's fleet was completed.