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When Will USAirways Stock Trade Again?  
User currently offlineTrvlr From United States of America, joined Feb 2000, 4430 posts, RR: 21
Posted (11 years 1 month 5 days 22 hours ago) and read 1956 times:

USAirways is now out of bankrupcty, but their stock is not being traded yet. Does anyone know, or have any guess as to when shares will be up for sale again?
Thanks for any information or speculation!

Aaron G.

7 replies: All unread, jump to last
 
User currently offlineMariner From New Zealand, joined Nov 2001, 25013 posts, RR: 85
Reply 1, posted (11 years 1 month 5 days 22 hours ago) and read 1946 times:
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Trvir:

All the old US Airways stock was cancelled during the bankruptcy. It cannot be traded, it has no value and will not have.

New US Airways stock has been issued to a select group of people in return for financial obligations to the "new" US Airways, but in order for the stock to be publicly traded, there will need to be an IPO of the new stock.

This will only happen when US Airways feels that they are financially secure enough to go to the public.

cheers

mariner



aeternum nauta
User currently offlineB747-437B From , joined Dec 1969, posts, RR:
Reply 2, posted (11 years 1 month 5 days 22 hours ago) and read 1940 times:

Mariner is correct. US Airways is now essentially no longer a publicly traded company and hence does not list its stock on an exchange.

User currently offlineLoneStarMike From United States of America, joined Jul 2000, 3811 posts, RR: 34
Reply 3, posted (11 years 1 month 5 days 22 hours ago) and read 1930 times:

US Airways to delay initial stock distribution
06/02/2003

http://biz.yahoo.com/rf/030602/airlines_usairways_1.html

LoneStarMike

User currently offlineOuboy79 From United States of America, joined Nov 2001, 4567 posts, RR: 23
Reply 4, posted (11 years 1 month 5 days 18 hours ago) and read 1889 times:

Like the story Mike posted, the stock will be traded publicly again soon...in fact they are contractually obligated to their stakeholders & unions to issue stock again. The NYSE has retained the ticker symbol "U" for US Airways to use again.

User currently offlineYyz717 From Canada, joined Sep 2001, 16245 posts, RR: 56
Reply 5, posted (11 years 1 month 5 days 18 hours ago) and read 1886 times:

Timing is the issue. The following criteria/conditions will be needed for the US BoD to approve an IPO:
1. A demonstrated turnaround in US Airways financials,
2. An improved airline industry financial outlook in general,
3. An improvement in general stock market performance,
4. A firmer US economic outlook,
5. A clearly defined expansion strategy that would make an IPO attractive.

Achievement of the above 5 are partially within US Airways control. Nonetheless, it may take several years for the conditions to be correct for an IPO.




Panam, TWA, Ansett, Eastern.......AC next? Might be good for Canada.
User currently offlineOuboy79 From United States of America, joined Nov 2001, 4567 posts, RR: 23
Reply 6, posted (11 years 1 month 5 days 16 hours ago) and read 1857 times:

Unfortunately they don't have several years to issue it, their reorganization plan had a very definite time limit set in place. The time period was 60 days which has now turned into 90. We should hear something this week on the future of "U" and its return to the big board.

User currently offlineYyz717 From Canada, joined Sep 2001, 16245 posts, RR: 56
Reply 7, posted (11 years 1 month 5 days 16 hours ago) and read 1854 times:

Well, that is a very short time frame Ouboy79. I can't imagine why anyone would buy "new" US Airways stock in this environment. If there is an IPO in 60 or 90 days, it will be a very poor one.

Personally, I have zero confidence in US Airways management. They need to demonstrate that they can operate the airline with a sustained operating profit. However, if other investors want to jump in now, fine with me. I'll sit it out.






Panam, TWA, Ansett, Eastern.......AC next? Might be good for Canada.
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