| Top News Airlines |
Date posted: April 01, 2003 |
US Airways Emerges from Chapter 11
Just eight months after filing for protection, the largest carrier operating in the eastern U.S. has met its obligations and repositioned itself for success.
by LISA MATTE US AIRWAYS GROUP, INC. AND SEVEN SUBSIDIARIES ANNOUNCED MONDAY THE COMPLETION OF ALL REQUIRED TRANSACTIONS AND REMAINING CONDITIONS TO ITS REORGANIZATION PLAN, ALLOWING THE COMPANY TO MEET ITS MARCH 31 TARGET FOR FAST-TRACK EMERGENCE FROM CHAPTER 11 PROTECTION.
“We were able to complete this process due to the cooperation and participation of our employees and other stakeholders, all of whom have made enormous sacrifices, but have supported our efforts to reposition the company for success,” said David N. Siegel, US Airways president and chief executive officer.
When it entered into Chapter 11 protection less than eight months ago, US Airways ranked as the nation’s sixth largest carrier. The company emerged Monday ranked number seven in the nation and the largest carrier operating in the eastern U.S.
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