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Republic To Fly E170s For US, Buys Assets

Sat Jun 25, 2005 2:47 pm

Intro paragraph:

US Airways Confirms Plans to Proceed with Sale of Aircraft and Slot Assets to Republic Airways

Thursday June 23, 4:57 pm ET

Equity Investment by Wexford/Republic Will Not Be Made at This Time; Asset Sale and Regional Jet Service Agreement to Go Forward

ARLINGTON, Va., June 23 /PRNewswire-FirstCall/ -- US Airways Group Inc. confirmed today that it will proceed with plans to sell certain Embraer regional jet aircraft and slot assets to Republic Airways Holdings, which will generate approximately $100 million in liquidity for US Airways as it completes its Chapter 11 restructuring and eventual merger with America West Airlines. The regional jets and the slots will continue to operate as US Airways Express.

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