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July 15, 2008 | From Times Wire Services
US Airways Group Inc. said it would take a $622-million accounting charge in its second quarter to reflect the effect of soaring fuel prices. US Airways said in a regulatory filing that it decided to write down the amount of goodwill -- an accounting term referring to intangible value -- that it had on its books since combining with America West Airlines in 2005. The Tempe, Ariz., carrier said it would book an $18-million charge to reflect the declining value of spare parts for its Boeing 737 aircraft.
August 27, 1999 | Bloomberg News
US Airways Group Inc.'s unionized machinists rejected further arbitration in contract talks with the sixth-largest U.S. airline, a move that starts a 30-day countdown to a possible strike. If the sides can't agree on a new contract during the countdown period, union members will be free to strike and the company will have the right to enforce new work rules. The countdown period will end Sept. 26 at 12:01 a.m. Eastern time, the National Mediation Board said.
October 2, 2004 | From Bloomberg News
US Airways Group Inc., operating under bankruptcy protection, and its pilots agreed on about $300 million in pay and benefit reductions the airline said it needed to help avoid liquidating. The tentative deal with the 3,200 pilots may lead unions representing about 20,600 more workers to reach cost-cutting accords. Negotiations are underway with flight attendants and customer-service and reservation agents and are set next week with the machinists union.
August 5, 2002 | Bloomberg News
US Airways Group Inc. invited some bondholders to a meeting in New York on Thursday to discuss the airline's financial restructuring and the potential effect on their investments. The meeting is for investors whose bonds are backed by some of the carrier's older aircraft and whose debt payments have been deferred, the company said in a notice to those bondholders.
July 11, 2002 | Bloomberg News
US Airways Group Inc. received a conditional $900-million loan guarantee that the carrier said it needs to raise $1 billion in new financing and avoid a bankruptcy filing. The application was approved on conditions that include the seventh-largest U.S. carrier giving the government a bigger potential stake in the company and completing concession agreements with workers and creditors, the Air Transportation Stabilization board said. The carrier has been trying to shave $1.
July 9, 2002 | Reuters
US Airways Group Inc. and its pilots' union struck a tentative deal that would yield $465 million each year in wage cuts and other concessions for 6 1/2 years to help keep the airline afloat, according to the Air Line Pilots Assn. The agreement is a major step forward in the No. 6 carrier's bid to cut costs, win approval of its application for government-backed loans and if possible, avoid bankruptcy.
April 19, 2001 | Washington Post
United Airlines Inc. executives said they will miss another target date for completing their complex $4-billion acquisition of US Airways, signaling that the deal is in serious trouble. This is the fourth time that airline executives have postponed a closing date they mentioned publicly or privately. Executives said they won't be able to complete the deal by June 30 and declined to say whether they could finish by the Aug. 1 deadline in the merger agreement.
August 13, 2004 | From Bloomberg News
US Airways Group Inc. probably would have to file for bankruptcy by mid-September without cost cuts, a financial advisor hired by the carrier's pilots union said, as the pilots consider a request for $300 million in concessions. After receiving the report from Glanzer & Co., the Air Line Pilots Assn. said it was accelerating negotiations with the Arlington, Va.-based carrier.
March 14, 2007 | From Times Wire Reports
Six Muslim scholars who were kicked off a US Airways flight last fall have filed a lawsuit claiming the airline discriminated against them and violated their civil rights. The imams, five of whom live in the Phoenix area, were returning from a religious conference in November when they were taken off a plane in Minneapolis, handcuffed and questioned. They had prayed on their prayer rugs in the Minneapolis-St.
In a deal that is likely to set off a new round of consolidation in the airline industry, the parent company of United Airlines plans to purchase US Airways Group Inc., creating an airline behemoth of more than 6,500 daily flights and nearly 1,000 jetliners, industry sources said Tuesday. UAL Corp., already the world's biggest airline, could announce the deal today. Neither company would comment Tuesday evening.
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