US Airways bankruptcy to hit EDS earnings
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US Airways' intention to reorganize under Chapter 11 bankruptcy protection is expected to affect the third-quarter financial performance of Electronic Data Systems Corp.
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ALEXANDRIA, Va., Sept 13  - US Airways plans to  slash costs under its second bankruptcy of the decade, in a bid  to become more like the discount airlines that threaten its  survival.
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New York (Dow Jones) -- Electronic Data Systems Corp. said Thursday its financial forecast for the second half of the year didn&#39;t reflect the impact of US Airways Group Inc.
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US Airways Group Inc. attorneys and executives acknowledged in bankruptcy court Thursday that bookings had fallen more steeply than they had anticipated in reaction to their Chapter 11 filing last month.
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US Airways Group Inc.  will ask a bankruptcy court on Friday to impose emergency pay cuts of 23 percent on unionized workers if an agreement with the workers is not reached during the day.
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Delta Air Lines Inc., working to beat back an $8.4 billion merger bid from US Airways Group Inc., is expected as soon as Tuesday to file a sweeping bankruptcy reorganization plan, The Wall Street Journal said on its Web site, citing people familiar with the matter.
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US Airways said that it must emerge from bankruptcy protection by June 30 to comply with a new $140 million aircraft leasing and financing deal.
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US Airways Group Inc. must rely on daily revenue and cash to operate during its bankruptcy reorganization, leaving it vulnerable to liquidation unless the carrier can raise exit financing.
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ALEXANDRIA, VA. The former chief financial officer for US Airways is offering a bleak outlook for the carrier. Dave Davis told a bankruptcy court in Virginia the airline doesn&#39;t expect to turn a profit until 2007.
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US Airways is at risk of filing Chapter 11 bankruptcy, which has frequent fliers thinking about cashing in miles, Boston.com reports.
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Electronic Data Systems, which lost business when customer US Airways filed for bankruptcy protection the first time around, says the carrier&#39;s latest filing also will hurt.
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Bankrupt US Airways Group. Inc.  said on Monday it would eliminate hundreds of management and nonunion jobs and impose wage and other cuts to save more than &#36;45 million annually as it tries to overhaul its business and survive.
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S Airways&#39; second trip to bankruptcy court holds both promise and peril for the nation&#39;s other major airlines. US Airways&#39; decision to seek Chapter 11 protection on Sunday could jolt unions
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In another sign of the troubles facing the nation&#39;s biggest airlines, US Airways filed Sunday for Chapter 11 bankruptcy protection for the second time since 2002.
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Troubled US Airways is to cut hundreds of management and non-union jobs, and cut wages, in a bid to save $45m (Â£25.2m) a year towards its survival.
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EDS (EDS:NYSE - news - research) shares slipped Thursday after the company warned that an airline industry bankruptcy could take a big chunk out of earnings.
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EDS said it continued to expect earnings, after special items, to be at the high end of the range between 5 cents and 10 cents per share.