State of the Airlines

Thursday, January 27, 2005

NEWS: Checchi Checks Out Some NWA Stock

Al Checchi, the former Northwest Airline chairman that employees loved to hate (some still do), has sold off 21% of his stock in the airline over the last week to the tune of around $7.5 million dollars. All of this occured after Northwest announced their 4th Quarter loss. Checci still holds 3.7 million shares of the airline's stock after selling off 1 million in these latest transactions. Checchi, like him or not, is a shrewd businessman so I find it interesting that he chooses to off a million shares after the airline announces their loss without waiting for the share price to rebound a bit. What does Mr. Checchi know?