Trvlr
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When Will USAirways Stock Trade Again?

Sun Jun 29, 2003 6:42 am

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.
 
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mariner
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RE: When Will USAirways Stock Trade Again?

Sun Jun 29, 2003 7:08 am

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
 
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RE: When Will USAirways Stock Trade Again?

Sun Jun 29, 2003 7:14 am

Mariner is correct. US Airways is now essentially no longer a publicly traded company and hence does not list its stock on an exchange.
"The A340-300 may boast a long range, but the A340 is underpowered" -- Robert Milton, CEO - Air Canada
 
LoneStarMike
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RE: When Will USAirways Stock Trade Again?

Sun Jun 29, 2003 7:19 am

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

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

LoneStarMike

 
ouboy79
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RE: When Will USAirways Stock Trade Again?

Sun Jun 29, 2003 10:48 am

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.
 
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yyz717
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RE: When Will USAirways Stock Trade Again?

Sun Jun 29, 2003 10:57 am

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.

I dumped at the gybe mark in strong winds when I looked up at a Porter Q400 on finals. Can't stop spotting.
 
ouboy79
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RE: When Will USAirways Stock Trade Again?

Sun Jun 29, 2003 1:20 pm

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.
 
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yyz717
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RE: When Will USAirways Stock Trade Again?

Sun Jun 29, 2003 1:30 pm

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.



I dumped at the gybe mark in strong winds when I looked up at a Porter Q400 on finals. Can't stop spotting.