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Air Wisconsin throws $35 Million to US Airways

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DenverCrashpad

Well-known member
Joined
Mar 13, 2006
Posts
156
Nov. 6, 2008 11:18 a.m. | Appleton-based Air Wisconsin Airlines Corp. said today it has agreed to provide a $35 million loan to US Airways Inc., part of a $950 million financing package that US Airways announced on Oct. 23.
Air Wisconsin is a major US Airways vendor, providing aircraft and flight crews for US Airways Express regional service. The loan has an initial term of 12 months, with optional monthly extensions totaling an additional 12 months, provided certain conditions are met.
An investors group owned by Air Wisconsin agreed in 2005 to provide $125 million to US Airways. That investment and other cash infusions allowed US Airways, once considered a candidate for liquidation, to strike a $1.5 billion merger deal with America West Holdings Corp. US Airways later emerged from Chapter 11 bankruptcy and completed its merger with America West.
"As the regional carrier operating the largest fleet of US Airways Express aircraft, Air Wisconsin remains committed to supporting US Airways' success," Air Wisconsin President and CEO Jim Rankin said in a statement.
Air Wisconsin is the largest privately held regional airline in the United States. The company also performs ground-handling services for United Express and Northwest Airlines at over 30 locations throughout the country.
 
Nov. 6, 2008 11:18 a.m. | Appleton-based Air Wisconsin Airlines Corp. said today it has agreed to provide a $35 million loan to US Airways Inc., part of a $950 million financing package that US Airways announced on Oct. 23.
Air Wisconsin is a major US Airways vendor, providing aircraft and flight crews for US Airways Express regional service. The loan has an initial term of 12 months, with optional monthly extensions totaling an additional 12 months, provided certain conditions are met.
An investors group owned by Air Wisconsin agreed in 2005 to provide $125 million to US Airways. That investment and other cash infusions allowed US Airways, once considered a candidate for liquidation, to strike a $1.5 billion merger deal with America West Holdings Corp. US Airways later emerged from Chapter 11 bankruptcy and completed its merger with America West.
"As the regional carrier operating the largest fleet of US Airways Express aircraft, Air Wisconsin remains committed to supporting US Airways' success," Air Wisconsin President and CEO Jim Rankin said in a statement.
Air Wisconsin is the largest privately held regional airline in the United States. The company also performs ground-handling services for United Express and Northwest Airlines at over 30 locations throughout the country.

Air Wisconsin has some deep pockets, i hope deep enough to keep US air out of Ch11.
 
Something is wrong when the regional is supporting the major airline.
 
Air Wisconsin has some deep pockets, i hope deep enough to keep US air out of Ch11.

I don't think you have to worry about Ch11 and US Airways. They have tons of cash and can probably ride out any fuel storms better then most in the future. Thats why AirWilly and Republic are jumping in.

Whats funny is that these Regionals are giving millions, but when its contract talks with employees they don't seem to have a penny sitting around.

I can hear the talk on the golf course. "We'll give US Airways Millions, and then give our Pilots 23.00hr to fly the 175!! Yes, that sound fair"
 
Something is wrong when the regional is supporting the major airline.

Don't think its some much supporting, its paying to play and locking in the future for feed.

Watch what happens to some of the regionals at the new Delta. Gonna be funny watching these 7-8 carriers stab each other in the back for flying.

If its anything like how management played PSA/PDT/ALG its gonna be a mess.


Good Luck
 
I'm thinking of just throwing in the towl on this site. It's gonna be a bloodbath of hate once the merger really get's going.
 

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