Here's the response from US Airways Chairman.
STATEMENT OF US AIRWAYS CHAIRMAN DR. DAVID BRONNER
ARLINGTON, Va., Dec. 16, 2003 -- Dr. David G. Bronner, chairman of the board for US Airways Group, Inc. (Nasdaq: UAIR), today issued the following statement after the Air Line Pilots Association (ALPA) called for the resignation of President and Chief Executive Officer David N. Siegel and the senior management team:
“The US Airways Board of Directors has complete confidence in the management team, and Dave Siegel in particular. It is regrettable that ALPA would suggest that a change in management is the solution, when this management team has done a remarkable job and earned the confidence of the investment community for their leadership in tackling difficult issues. The shareholders, management and employees of US Airways all want the same thing: a successful airline. We are all frustrated with the reality of the airline industry and the need for significant change by the legacy carriers, but it is reality.
“ALPA’s action does nothing to address the bigger issue of how we complete our restructuring and become a successful company, and ignores the fact that shareholders rely on management and union leaders to work together to solve problems, rather than looking for someone to blame. Personally, I believe that US Airways has thousands of great employees who want to see this airline succeed, and we are going to focus on them, and not the unconstructive statements of those who fail to recognize that the world is changing and that we must adapt.
“Over the last year, this team has successfully emerged from Chapter 11, secured a federal loan guarantee to enhance the company’s liquidity, implemented a business plan that has achieved the greatest revenue and cost improvements in the industry, and financed a significant regional jet order. To accomplish these goals, Dave Siegel and his team have had to earn the confidence of investors, government agencies, and the banking and financial community.
“The Board of Directors will continue to work with Dave Siegel and this management team to revise the business plan, to maintain the confidence of all stakeholders and ensure the company’s success and growth.”
Reporters needing additional information should contact US Airways Corporate Affairs at (703) 872-5100.
Copyright © 2003, US Airways, Inc.
All Rights Reserved
If Siegel resign's it could well mean the end for US Airways
. I wonder if he will step down and if so, who will be the new CEO for US Airways?
Also with US Airways joining Star Alliance next month could this cause a problem?
[Edited 2003-12-17 01:21:26]
[Edited 2003-12-17 01:22:06]