US Airways weighs $300M in offers

[Long Time Gone]

From the AIB "Majors" board.....

US Airways weighs $300M in offers


By Thomas Olson
TRIBUNE-REVIEW
Friday, January 30, 2004



Financially troubled US Airways is considering $300 million in offers for unidentified assets the struggling carrier is shopping around.
The airline is using investment banker Morgan Stanley to solicit bids for such properties as the lucrative East Coast shuttle, US Airways Express subsidiaries and gate space at New York's LaGuardia and Boston's Logan airports.

"If that $300 million is correct, it's probably $150 million for the shuttle and another $150 million for their express partners," said Robert Mann Jr., head of R.W. Mann & Co. Inc., an airline consultancy based on Long Island, N.Y.

US Airways spokesman David Castelveter declined to comment about any offers or assets that might be sold.

 

[climbhappy]

GRAVEYARD SPIRAL

do the math, selling off assets means the coffin is starting to shut.

you can't expect us air to turn around what is essentially a GRAVEYARD SPIRAL once they start to auction off property.

as a former express pilot, and one who has known many mainline guys, I am saddened. Piedmont airlines would be alive today were it not for that screwball merger!( i'M TALKING ABOUT THE ORIGINAL PIEDMONT, NOT THE RENAMED HENSON VERSION)