ITYT Travel Forums  

Go Back   ITYT Travel Forums > Travel Companies & Programs > Airlines & Frequent Flier Programs > US Airways (US)
Click Here to Login

Reply
 
Thread Tools Search this Thread
Old 05-10-2002, 04:13 PM   #1
Senior Member
ITYT Captain
 
Join Date: Sep 2001
Location: IAH/HOU
Posts: 2,354
US Airways to Seek Loans, May Reorganize

US Airways to Seek Loans, May Reorganize

Quote:
CHICAGO (Reuters) - US Airways Group (NYSE:U - News) said on Friday it will seek federal loan guarantees following huge losses since the Sept. 11 attacks and will consider a bankruptcy filing if it cannot reach agreement with employees, suppliers and lenders to cut costs.
__________________

dbaker is offline   Reply With Quote
Old 06-11-2002, 12:12 AM   #2
Senior Member
ITYT Navigator
 
Join Date: Sep 2001
Location: AUS
Posts: 690
US Airways Files $900 Mln Loan Guarantee

US Airways Files $900 Mln Loan Guarantee

Quote:
Struggling air carrier US Airways Group Inc. asked the government on Monday to guarantee 90 percent of a $1 billion loan that it would use to help salvage its business, which took a huge financial hit after the Sept. 11 attacks.


The Arlington, Virginia-based air carrier, the nation's sixth-largest, reported a $2.1 billion loss last year, and its financial stability deteriorated even further as it reported a $269 million shortfall in the first quarter of this year.

The carrier filed an application on Monday evening for a $900 million loan guarantee from the government's Air Transportation Stabilization Board (ATSB), which was created by following the Sept. 11 attacks to aid the faltering airline industry.
tycoonjack is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



All times are GMT -5. The time now is 06:05 AM.



Content Relevant URLs by vBSEO 3.6.0