EDS: U.S. Air Bankruptcy to Cut Its Profits
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Electronic Data Systems Corp.  EDS.N said on Thursday the bankruptcy of US Airways Group  Inc. UAIRQ.OQ could sharply reduce its third-quarter earnings  by up to 3 cents per share, because of a long-term information  technology contract between the companies.
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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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Delta Air Lines Inc., working to beat back an $8.4 billion merger bid from US Airways Group Inc., is expected as soon as Monday 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 Group Inc., acting under Chapter 11 bankruptcy protection, has proposed a 19.5% pay cut for its pilots, The Wall Street Journal reports.
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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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United Airlines said on Wednesday it  would cut its U.S. flights and increase capacity on more  lucrative international routes as it tries to emerge from  bankruptcy.
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elta Air Lines announced yesterday that it would cut 12 percent of its work force over the next 18 months and said a bankruptcy filing would be &quot;a real possibility&quot; as soon as the end
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EADS on Thursday posted steeper  than expected third-quarter losses, axed forecasts that it  would make a 2007 operating profit and promised to reinforce  restructuring plans after fresh problems at planemaker Airbus.
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DALLAS - American Airlines, struggling to compete with lower-overhead carriers, will cut more jobs to reduce costs, chief executive Gerard Arpey said Wednesday.
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JetBlue Airways Corp. , a low-fare carrier flying mainly on the East Coast, said third-quarter profit will be lower than it expected because of hurricanes that forced flight cancellations in Florida and high fuel costs.
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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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SEPTEMBER 16, 2004 (IDG NEWS SERVICE) - The financial performance of Electronic Data Systems Corp., which has been on a bumpy flight pattern for about two years, has hit more rough air as a result of US Airways Group Inc.
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US Airways Group Inc., which filed for Chapter 11 bankruptcy protection last month, will eliminate hundreds of management and nonunion jobs and impose wage cuts to save $45 million a year.
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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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Most of the largest U.S. airlines are likely to post fourth-quarter losses, possibly signaling the end of an industry recovery that began in 2006 and further building a case for mergers.
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No. 3 airline says loss to be worse than forecasts; gives new warning of bankruptcy threat. NEW YORK  - Delta Air Lines Inc.
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EDS (Electronic Data Systems) warned yesterday that its third quarter earnings would take a significant hit from US Airways&#39; Chapter 11 filing on Sunday.