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Joined: Tue Mar 07, 2000 6:34 am

US Airways Status

Sat Dec 14, 2002 11:27 pm

Hows everything going with the US Airways bankruptcy? I`ve heard some people talk about Ch.7. I`m hoping my favorite airline will be around a long time.

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Becoming the Carrier of Choice.

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Posts: 212
Joined: Fri Mar 15, 2002 9:41 am

RE: US Airways Status

Sun Dec 15, 2002 2:35 am

I read in a local newspaper that Retirement Systems of Alabama is most likely going to pull out of $200 million loan unless US reorganizes union deals. RSA has already given $3 million to US. Another reason they are probably going to pull out of it is that RSA lost around $500 million in the worldcom scandal. Although they only lost less the 1% of there portfolio in worldcom they still think right now it is to risky to go in with US airways unless things are reorganized.

Pat from AL Smile

RE: US Airways Status

Sun Dec 15, 2002 3:14 am

Hopefully they won't pull out, cause if they do, USAirways is most likely doomed.
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Joined: Tue Feb 12, 2002 8:27 am

RE: US Airways Status

Sun Dec 15, 2002 4:52 am

I was told today that the IAM and AFA rejected the request for further cuts. Has anyone else heard that? I cannot verify the accuracy of that statement, it may have been old news. Thanks in advance.TC
FL450, M.85
Posts: 435
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RE: US Airways Status

Sun Dec 15, 2002 4:56 am

I know that the pilots had ratified thier end, and Retirement Systems said they were pleased with the move and that USAir would continue to fly.
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Joined: Sun Nov 18, 2001 1:48 pm

RE: US Airways Status

Sun Dec 15, 2002 5:18 am

AFA and IAM deals are requring management to take further cuts before they will proceed. However, the Pilots did ratify $100 million in further cuts...of the $200 million needed total (of all unions). So half way there.