Finance, Taxes, Insurance
Delta sells Mesaba, Compass subsidiaries
Delta Air Lines announced last month that it has entered into definitive agreements to sell two of its wholly owned regional airline subsidiaries–Minneapol

Delta Air Lines announced last month that it has entered into definitive agreements to sell two of its wholly owned regional airline subsidiaries–Minneapolis-based Mesaba and Compass Airlines. Delta has sold Mesaba to Memphis, Tenn.-based Pinnacle Airlines for $62 million, and Compass to St. Louis-based Trans States Holdings for $20.5 million. Delta said it would use the proceeds from the transactions for general corporate purposes.

Under the terms of the agreements, Mesaba and Compass will continue to serve Delta customers with long-term, extendable agreements, ranging from seven to 12 years depending on aircraft type. Both Mesaba and Compass will continue to operate from their present headquarters in Minneapolis-St. Paul, under the leadership of both current presidents, John Spanjers and Tim Campbell, respectively.