US Airways seeks 2nd bankruptcy in 2 years
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US Airways Group, Inc., filed for bankruptcy Sunday for the second time in two years after failing to win needed wage and benefit cuts from its unions.
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The airline industryâs financial crisis deepened yesterday as cash-strapped US Airways Group Inc., the nationâs seventh-largest carrier, filed for bankruptcy protection for the second time in two years.
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US Airways Group Inc. yesterday asked a federal bankruptcy judge to void labor agreements with three unions to help it slash costs and avoid liquidation.
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US Airways (UAIRQ.OB: Quote, Profile, Research) , which this month sought bankruptcy protection for the second time in two years, said on Sunday it reached a new union contract with 65 flight crew training instructors.
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A "frustrated" chief executive of US Airways Group Inc. told employees yesterday that despite recent assertions from the airline's chairman, the carrier could survive a second bankruptcy filing -- but only with revised labor agreements.
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ALEXANDRIA, Va.  - 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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US Airways  has asked a bankruptcy judge to approve temporary wage and other cost cuts from its unions, saying it only has enough cash to survive through January 2005.
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As US Airways continues concession talks with pilots to avert a second bankruptcy filing, it&#39;s facing new strains with mechanics.
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US Airways files for protection from its creditors after failing to get staff on board for  a cost-cutting deal.
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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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US Airways Group Inc. said yesterday it expects to file a plan by Feb. 15 on how it will emerge from bankruptcy.
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US Airways is dangerously close to its second Chapter 11 filing in two years, a bankruptcy that could cripple the airline and its frequent fliers if it fails to cut costs severely.
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US Airways Group Inc. probably will need more cost cuts or a boost in revenue to attract the $250 million in equity it says it needs to leave bankruptcy next year, the company said on Thursday.
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Already hit by multiple bankruptcies, consumer displeasure and out-of-control fuel prices, the US airline industry next year faces the prospect of its worst labor unrest in more than a decade.
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US Airways Group Inc. and its pilots union plan to resume talks on $295 million in pay and benefit cuts the carrier needs to help avoid a second bankruptcy filing, after each side made a proposal over the weekend.
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If US Airways files for bankruptcy a second time, its chairman says, there will be no outside investor, other airline or government aid to rescue it.
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Barring a last-minute change of heart by its recalcitrant unions, US Airways appears all but certain to seek bankruptcy protection on Sunday.