US Airways CFO Leaves as Airline Fights to Survive
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The chief financial officer of financially troubled US Airways Group Inc. has resigned, less than six months after taking the job and just a month after the airline filed for bankruptcy protection for the second time in as many years, the company announced yesterday.
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ALEXANDRIA, Va.  - 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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SAN FRANCISCO (CBS.MW) -- Bankrupt US Airways Group filed a court motion Friday evening seeking permission to make pay cuts totaling $38 million per month, saying that the move is necessary to preserve about 34,000 jobs.
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Boeing Co. BA.N suffered a blow with   the exit of top executive Alan Mulally, and may face further   management departures, industry-watchers said on Wednesday, but   the planemaker is seen as staying on track as sales of its   planes boom.
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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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US Airways  and its machinists union headed for a showdown in bankruptcy court on Thursday that could ground the airline permanently or improve its chances of survival.
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IMPERIAL, Pa. Some passengers express concern about US Airways&#39; latest bankruptcy filing, even though the airline vows to continue operating a normal schedule.
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US Airways probably will need more cost cuts or a boost in revenue to attract the USD$250 million in equity it says it needs to leave bankruptcy next year, the company said on Thursday.
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United Airlines is poised to make more reductions in its work force -- already 40 percent smaller than it was before the 2001 terrorist attacks. The second-biggest US airline confirmed job cuts will be part of its plan to get out of bankruptcy.
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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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US Airways UAIRQ.OQ 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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US Airways Group Inc. named a vice president to oversee its restructuring efforts, the airline said Thursday. James Schear will handle US Airways&#39; organizational restructuring responsibilities and work with
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US Airways Group headed to bankruptcy court Monday to seek permission to keep flying during its second bankruptcy filing in two years.
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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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Brian Jansen hopes his longtime employer, US Airways, can pull out of bankruptcy-court protection again. But just in case, he has taken out a little insurance policy on his future: a second job.
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The head of the mechanics union at US Airways said yesterday the group is not optimistic about reaching an agreement with the airline before a critical hearing Thursday and raised the prospect that the unit could walk off the job if a court allows the current labor contract to be voided.
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US Airways' second trip to bankruptcy court holds both promise and peril for the nation's other major airlines.