New US Air recovery plan??

[blzr]

Breaking News
Mystery Foreign Bidder Seeks US Airways
Published: February 07, 2005 10:08 AM By Elizabeth Souder
Of DOW JONES NEWSWIRES



NEW YORK (Dow Jones)--An overseas investment group filed a brief with the bankruptcy court stating it wants to buy US Airways Group Inc. (UAIRQ).

Legal Research Inc. of Kennesaw, Ga., filed the brief on behalf of the investor last month. Sallijo Freeman, director of Legal Research, said the investor has the financing for the deal, and intends to continue operating US Airways.

Freeman declined to name the client or describe them in any more detail. Officials with US Airways weren't immediately available to comment.

US Airways has been restructuring under bankruptcy court protection, and recently top executives declared they'd accomplished the biggest, most difficult changes by cutting labor costs.

Further, US Airways currently has the exclusive right to present a business plan to the court. Freeman said she will ask court to consider her client's investment plans.

U.S. airlines cannot legally be 100% foreign-owned. Freeman said her client will comply with all laws and regulations.

By Elizabeth Souder, Dow Jones Newswires; 201-938-4148; [email protected]



(END) Dow Jones Newswires

02-07-05 1002ET



Breaking News Archive

 

[On Your Six]

Breaking News
Mystery Foreign Bidder Seeks US Airways
Published: February 07, 2005 10:08 AM By Elizabeth Souder
Of DOW JONES NEWSWIRES



NEW YORK (Dow Jones)--An overseas investment group filed a brief with the bankruptcy court stating it wants to buy US Airways Group Inc. (UAIRQ).

Legal Research Inc. of Kennesaw, Ga., filed the brief on behalf of the investor last month. Sallijo Freeman, director of Legal Research, said the investor has the financing for the deal, and intends to continue operating US Airways.

Freeman declined to name the client or describe them in any more detail. Officials with US Airways weren't immediately available to comment.

US Airways has been restructuring under bankruptcy court protection, and recently top executives declared they'd accomplished the biggest, most difficult changes by cutting labor costs.

Further, US Airways currently has the exclusive right to present a business plan to the court. Freeman said she will ask court to consider her client's investment plans.

U.S. airlines cannot legally be 100% foreign-owned. Freeman said her client will comply with all laws and regulations.

By Elizabeth Souder, Dow Jones Newswires; 201-938-4148; [email protected]



(END) Dow Jones Newswires

02-07-05 1002ET



Breaking News Archive

I'll bet the secret group is headed by Stephen Wolf and David Siegel... Time to repaint the aircraft.

 

[PHXFLYR]

So soon?


Phxflyr

 

[Steeler Fan]

So soon?


Phxflyr

Any more specifics? My in-laws heard something on the news, but didn't really give me any details.

 

[J32driver]

Richard Branson!!!! He's gonna get his airline yet!!!

 

[SWA GUY]

Yet another article where management blames labor costs for a failing airline.

I guess if ya keep saying something over and over and over again it's true...yeah right.

 

[LearLove]

I bet its management's ploy to get the stock price up then sell out and leave us hanging.

 

[blzr]

Learlove, expect to be contacted by the men in black hired to beat people with whiffle ball bats for giving out insider information.

 

[Cosmo1999]

I heard they were going to add another hub in the northeast as part of their recovery plan.

 

[Guitar Guy]

US Airways has been restructuring under bankruptcy court protection, and recently top executives declared they'd accomplished the biggest, most difficult changes by cutting labor costs.

Did management cut "management cost" at the same time they slashed "labor costs"?