December 28, 2002 |
A federal bankruptcy judge said he would allow General Electric Co. to provide $36.6 million to US Airways Group Inc. in a modification of a 2001 credit agreement. The advance, approved by Judge Stephen Mitchell of the U.S. Bankruptcy Court for the Eastern District of Virginia in Alexandria, is part of a proposal under which GE would acquire a 5% stake in a reorganized US Airways in return for loan concessions.
April 25, 1998 |
US Airways Group Inc. and Boeing Co. said they settled a legal dispute involving a US Airways 1996 cancellation of airplane orders. US Airways acknowledged a breach of contract and made an undisclosed payment to Seattle-based Boeing. "Based on mutual business considerations, Boeing and US Airways have resolved our differences," the companies said in a statement.
May 10, 2006 |
US Airways Group Inc., which left bankruptcy protection in September by merging with America West Airlines, reported a first-quarter profit as higher fares boosted revenue. Net income was $65 million, or 76 cents a share, on sales of $2.65 billion, Tempe, Ariz.-based US Airways said. The results prompted at least three analysts to raise their estimates for full-year profit, and shares jumped 9.2% to a record.
March 15, 2007 |
US Airways Group Inc. said problems with its computerized reservation and ticketing system will be "99% fixed" by the end of this week, after causing flight delays and long lines this month. The delays began March 4 when the Tempe, Ariz.-based airline tried to combine its computerized system with that of America West Holdings Corp.
October 3, 2002 |
The government approved a proposal by UAL Corp.'s United Airlines and US Airways Group to sell seats on each other's flights, coordinate schedules and offer reciprocal perks such as frequent-flier miles. The Transportation Department said it gave the go-ahead to the two struggling airlines to increase competition and benefit travelers.
November 19, 1998 |
Rakesh Gangwal, president of US Airways, the nation's sixth-largest airline, was named chief executive of its parent company, US Airways Group Inc. Gangwal, 45, succeeds his colleague and mentor, Stephen M. Wolf, who remains chairman. The pair worked together first at United Airlines, a unit of UAL Corp., and at Air France before joining Arlington, Va.-based US Airways nearly three years ago.
August 3, 1999 |
Tiger Management, the hedge fund group run by Julian Robertson and the largest shareholder at US Airways Group Inc., said it may seek a sale or merger of the airline to rebuild its value after a year of slumping stock performance. Robertson-managed funds hold a 22.4% stake in Arlington, Va.-based US Airways, whose shares have lost half their value in the last year and hit a 52-week closing low Friday. Shares rose $2.88 to close at $38.50 Monday on the New York Stock Exchange.
August 7, 2001 |
US Airways Group dismissed a takeover attempt made by Global Airlines Corp., a holding company with no operations that earlier this year failed to buy Trans World Airlines Inc. New York-based Global Airlines, which is owned by little-known investor Emil Bernard, offered to pay $1.8 billion, or $27 a share in cash and stock, for US Airways. "Neither Mr.
July 25, 2002 |
UAL Corp.'s United Airlines and US Airways Group Inc., the second- and seventh-largest U.S. carriers, agreed to sell tickets for each other's flights to help increase revenue. The alliance effectively extends each of the carrier's networks and lets passengers connect to the flights operated by the partner carrier. The airlines sought to combine in 2000 and later discarded the proposal because of regulatory opposition. UAL shares fell 70 cents to $4.70 and US Airways rose 36 cents to $2.
May 18, 2002 |
US Airways Group Inc. said it would attempt to shave $950million in annual labor expenses as part of a restructuring plan that would include requesting a $1-billion loan guarantee from the U.S. government. The carrier needs to shore up finances after a record loss last year of $2.1 billion and daily losses this year. Shares of Arlington, Va.-based US Airways rose 14 cents to $3.24 on the NYSE.