yhz78
Posts: 140
Joined: Sun Apr 18, 2004 9:26 am

US Airways News

Tue Jan 18, 2005 3:32 am

Has anyone heard any updates about US's situation lately? I have been away for a while and haven't been able to keep up. The last I heard was that the 14th was supposed to be a possible drop dead date but I haven't heard anything since. Any news?
Canada Rocks! From the west coast to the best coast!
 
USrampleadSTL
Posts: 96
Joined: Tue Jan 11, 2005 1:04 pm

RE: US Airways News

Tue Jan 18, 2005 3:44 am

New drop dead date: June 30th. Score one for US!
02C14MARPHLFCOMM1 - FLY THE FLAG!
 
deltairlines
Posts: 6878
Joined: Mon May 24, 1999 4:47 am

RE: US Airways News

Tue Jan 18, 2005 3:49 am

They're still flying, as I was just on them this morning from BOS to GSO.

Anyway, US and the ATSB were able to negotiate an extension of their loan to June 30. Next milepoint is February 15, when GECAS can seize planes (I think) if US is not meeting certain financial criteria. At this point, even though it's a month out, it does look likely that US will meet the financial points.

Jeff
 
ouboy79
Posts: 4114
Joined: Sun Nov 18, 2001 1:48 pm

RE: US Airways News

Tue Jan 18, 2005 4:25 am

US Airways and GECAS have already reached an agreement that is much like the ATSB one, they must be out of bankruptcy by June 30th. GECAS will also be financing 6 new RJs to US Airways this month - 3 170s and 3 CR7s. Progress is being made and the last major step is IAM which will have results soon on whether they get the last proposal from the company or one the judge shoves down their throat.

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