US Airways Chairman: Liquidation Possible
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US Airways Group Inc.&#39;s (UAIR.O: Quote, Profile, Research) chairman said employees must agree to $800 million in new wage and benefit cuts within 30 days or the airline might be liquidated, the New York Times said on Thursday, citing
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US Airways Group Inc. met with two unions to try and agree on concessions before an Oct. 7 hearing at which a bankruptcy judge might let the carrier temporarily reduce pay 23 percent to help avoid potential liquidation.
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US Airways Group Inc.&#39;s (UAIR.O: Quote, Profile, Research) chairman said employees must agree to $800 million in new wage and benefit cuts within 30 days or the airline might be liquidated, the New York Times said on Thursday, citing ...
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ALEXANDRIA, Va. -- US Airways asked a bankruptcy judge yesterday to cancel labor contracts with three of its unions and impose much lower pay so it can move ahead with a plan to permanently cut costs, reposition itself as a low-cost carrier, and avoid a possible liquidation.
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Delta Air Lines Inc.  said on Thursday it listened to a presentation by US Airways Group Inc.  concerning US Airways' $8.5 billion takeover offer for Delta, but repeated earlier statements that it intends to emerge from bankruptcy as a stand-alone carrier.
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US Airways also asks a judge to approve pay and benefit cuts to help save the carrier from going under. By Associated Press. ALEXANDRIA, Va.
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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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US Airways Group Inc. president and chief executive Bruce Lakefield is determined that the airline will emerge from its second bankruptcy filing in two years in stronger shape than ever.
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US Airways faces a &quot;high probability&quot; of liquidation by mid-February if the temporary pay cuts it requested are not approved by the US Bankruptcy Court.
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The airline's plan to emerge from bankruptcy may include canceling its pension plans.
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US Airways is in talks with its pilots over pay cuts designed to turn it into a low-cost carrier, but failure could see it return to bankruptcy.
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US Airways chief executive Bruce Lakefield said yesterday the airline would, as expected, ask a bankruptcy judge to impose temporary pay cuts on its
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US Airways pilots have asked the airline to resume concession talks, but a union leader said Saturday he didn&#39;t expect it to forestall a bankruptcy filing today.
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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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Leaders of the pilots&#39; union at bankrupt US Airways were considering Friday whether to forward to members a proposed contract renegotiation that includes an average pay cut of more than 18 percent.
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The chairman of US Airways, David G. Bronner, said Wednesday that its employees must agree to a third round of wage and benefit cuts worth $800 million in the next 30 days or the airline could be liquidated.
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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.