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BUSINESS
July 28, 2004 | From Bloomberg News
US Airways Group Inc.'s second-quarter profit more than doubled, with sales rising 10% and labor costs declining as the carrier sought to avoid a second bankruptcy filing. Net income rose to $34 million, or 59 cents a share, from $13 million, or 25 cents, a year earlier, which included U.S. aid for security expenses, the Arlington, Va.-based carrier said. Sales climbed to $1.96 billion. US Airways' labor expenses fell $95 million, or 13%, in the quarter.
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BUSINESS
April 3, 1997 | (Associated Press)
Arlington, Va.-based US Airways has announced layoffs and scrapped most of its Caribbean and Canadian flights from Baltimore-Washington International Airport. The latest cutback leaves just 76 US Airways jet flights daily at BWI, fewer than half the number seven years ago. US Airways, which has the highest costs in the airline industry, is seeking to eliminate overlapping service at its costly East Coast hubs and build up its Philadelphia operation.
BUSINESS
September 25, 2001 | Associated Press
US Airways Group Inc. said it will shut down MetroJet, its low-cost operation based at Baltimore-Washington International Airport, by December. "As a result of the government's and public's reaction to [the Sept. 11] terrorist attacks, and the closing of Washington's Reagan National Airport, a new security system and a dramatic decrease of airline traffic, we have to reduce our costs dramatically," the company said in a recorded message for employees.
BUSINESS
July 8, 2001 | James F. Peltz
More than a year after UAL Corp.'s United Airlines agreed to acquire US Airways for $4.3 billion, the companies said they're in talks to scrap the deal. Although the carriers didn't provide details, people close to the situation said the merger would have raised serious antitrust objections from the Justice Department and the airlines weren't prepared to accept the terms necessary to get the deal closed.
BUSINESS
February 22, 2003 | From Bloomberg News
US Airways Group Inc., which is seeking to emerge from Chapter 11 reorganization, told a federal judge it will have to liquidate unless it gets approval to terminate a pilot pension plan covering as many as 8,000 people. The carrier has asked U.S. Bankruptcy Judge Stephen Mitchell for permission to end the plan as of March 31, saying that it couldn't make $2 billion in pilot payments due over the next seven years. US Airways, based in Arlington, Va.
BUSINESS
January 13, 2001 | MOLLY SCHUETZ, BLOOMBERG NEWS
United Airlines parent UAL Corp. won European antitrust approval Friday for its $11.6-billion purchase of US Airways Group Inc., after pledging to give up some takeoff and landing slots in Germany. The largest airline merger will mostly affect the U.S. by giving United access to US Airways' north-south routes on the East Coast. But because United has a joint venture on transatlantic routes with Deutsche Lufthansa, United had to eliminate some overlap in flights.
BUSINESS
March 29, 2003 | From Reuters
US Airways Group Inc. cleared its last big hurdle in restructuring when the government said it had approved the carrier's proposal to terminate its pilots' pension plan and replace it with a cheaper one. The action by the Pension Benefit Guaranty Corp., a federal corporation, clears the way for the airline to emerge from Chapter 11 bankruptcy Monday.
BUSINESS
August 16, 2002 | From Reuters
US Airways Group Inc. has asked its mechanics to absorb an initial wage cut and other concessions to speed its bankruptcy restructuring and boost its chances of getting government-backed loans, the mechanics' union said. Mechanics and others who earn more than $14.42 an hour would take a 6.8% wage cut upfront, according to a US Airways proposal revealed by the International Assn. of Machinists.
BUSINESS
February 24, 2000 | Associated Press
The clock has begun ticking in a possible showdown between US Airways and the union representing its flight attendants. The National Mediation Board has started a 30-day cooling-off period. If no deal is reached, the carrier's 10,000 attendants will be free to walk off the job at 12:01 a.m. EST on March 25. But in a letter to employees, US Airways officials vowed to ground the airline rather than endure the surprise strikes threatened by the Assn. of Flight Attendants.
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