Judge Lets US Airways Use Gov't Loan
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ALEXANDRIA, Va. - A bankruptcy judge gave US Airways Group Inc...
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Some key US Airways Group Inc. lenders have agreed to extend the terms of their financing to mid-January, The Wall Street Journal reports.
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US Airways Group Inc. has reached an agreement with its lenders and the U.S. government to extend financing necessary for the bankrupt airline to operate through mid-January, court documents showed Tuesday.
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CHICAGO - A federal bankruptcy judge has given United Airlines a 30-day "test period" to show it can cooperate with its unions on a restructuring plan, rejecting union calls to open the process up to rival proposals immediately because United has not tried hard enough to preserve employee pensions.    The hearing came a day after the release of court papers in which United warned it "likely" will have to terminate those pension funds in order to secure the loans it needs to emerge from Chapter 11 bankruptcy...
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Bankrupt US Airways received approval yesterday to use $745 million in cash over the next three months, but a US Bankruptcy Court judge gave lawyers
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A bankruptcy judge gave US Airways Group Inc. permission yesterday to tap a government loan to fund daily operations -- a move expected to allow the airline to continue normal operations while it searches for alternative financing.
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US Airways managers said Sunday the combination of large payments due this week and the failure to achieve a third round of concessions has led them back to bankruptcy court.
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US Airways (UAIRQ.OQ: Quote, Profile, Research) 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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With big labor savings assured,  bankrupt US Airways UAIRQ.OB is expected to secure new access  to its only source of ready cash, an official with the  government agency backing the airline's financing said on  Monday.
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The Wall Street Journal reports that the carrier&#39;s largest creditor has agreed to an aircraft leasing and financing deal that would give US Airways a financial lifeline.
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With big labor savings assured, bankrupt US Airways  is expected to secure new access to its only source of ready cash, an official with the government agency backing the airline's financing said on Monday.
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ALEXANDRIA, Va. -- US Airways Group Inc. has reached an agreement with its lenders and the US government to extend financing necessary for the bankrupt airline to operate through mid-January, court documents showed Tuesday.
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ALEXANDRIA, Va. A federal bankruptcy judge is weighing whether to grant US Airways&#39; request to impose 23-percent pay cuts on its workers to shore up its financial position while it reorganizes.
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US Airways Group Inc., unable to win concessions from employees, asked a bankruptcy court judge to let it temporarily cut worker pay 23 percent and reduce benefits to preserve cash needed for daily operations.
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ALEXANDRIA, Va. Sept. 27, 2004 - US Airways Group Inc. warned in a bankruptcy court filing that it may have to liquidate by February if a judge does not impose a temporary 23 percent pay cut on its union workers.
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A bankruptcy judge gave US Airways Group Inc. permission Monday to tap a government loan to fund daily operations - a move expected to allow the airline to continue normal operations while it searchs for alternative financing.
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CHICAGO -- A federal bankruptcy judge ruled against United Airlines yesterday in a procedural dispute, siding with unions that said the company submitted unsubstantiated claims about how employees would be affected if pension plans were terminated.