Offers Are Said to Flow In for Assets of US Airways

[BovineOne]

Several airlines, large and small, have made offers for the major assets of US Airways, including its East Coast shuttle and gates at several airports, people briefed on the negotiations said last night.

American Airlines, Delta Air Lines, JetBlue Airways and AirTran made preliminary bids last week in a process led by Morgan Stanley, these people said. Mesa Air Lines, a regional carrier serving the West Coast, has also said it is interested in bidding on US Airways' assets.

The board of US Airways is set to consider the offers at a meeting early next month.

The airline, a unit of the US Airways Group, based in Arlington Va., emerged from Chapter 11 bankruptcy protection less than a year ago. But US Airways, the nation's seventh-largest carrier, has been struggling since. It is pressing its unions for further concessions as it tries to cut more than the $200 million to $300 million it had planned to trim from its operations this year.

http://www.nytimes.com/2004/01/28/business/28air.html