(WFRV) – A Wisconsin-based charter airline is preparing to lay off more than 250 employees as corporate officials work toward selling the company.
According to a Worker Adjustment and Retraining Notification (WARN) letter submitted to the Wisconsin Department of Workforce Development, Air Wisconsin Airlines LLC has signed a non-binding letter of intent with Premier Shuttle Holdings, an affiliate of Slate Aviation, for the proposed sale of its airline operations and certain assets.
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The letter of intent outlines preliminary terms, but both Air Wisconsin and Premier must still complete due diligence and finalize a definitive agreement.
Premier, which currently offers all-business-class service on premium leisure routes in the eastern U.S., says it is pursuing the acquisition because of Air Wisconsin’s fleet, maintenance expertise, and operating certificate. That certificate would allow Premier to expand into larger aircraft such as the CRJ-700 and E175. If completed, the deal would give Premier and Slate Aviation more than 60 CRJ-200 aircraft…