The Raleigh-based airline plans to return to the skies Dec. 19, airport officials say.
The bailout is possible because of the federal Air Transportation and Stabilization Act, which provides $15 billion in assistance to airlines. Congress passed the act to help airlines rebound from plummeting revenues after the Sept. 11 attacks.
Midway CEO Robert Ferguson announced the airline's return last week. He said "hopefully it will be a plus."
Midway filed for Chapter 11 bankruptcy Aug. 13 and laid off 2,400 workers between then and Sept. 12, when it closed its doors.
Michael Walden, professor of economics at N.C. State University, said there will be a two-fold economic impact for the Triangle when Midway returns.
Walden said the local airline will rehire some of its employees, who will spend part of their salaries in the Triangle. He also said Midway's returning service will prompt more people to buy airline tickets, although he added that people do not necessarily choose their airline based on its headquarters' location.
Rep. David Price, D-N.C., has worked with other legislators to get funding for Midway.
"Obviously he feels that it provides a needed boost to the economy," said Bridget Lowell, Price's press representative. "Anything that puts people back to work is a good thing."
Midway is projected to begin operating four Boeing 737s out of Raleigh-Durham International Airport beginning Dec. 19. Two more planes will be added in March.