USAir confident in stand-alone prospects, no more big cuts --article

[General Lee]

Exec confident of US Airways stand-alone prospects

Wed Jun 18, 2008 4:13pm EDT

WASHINGTON, June 18 (Reuters) - The president of US Airways Group Inc (LCC.N: Quote, Profile, Research, Stock Buzz) is confident about the carrier's stand-alone prospects and does not foresee a merger in the near term.
Scott Kirby also told CNBC in an interview that major carriers are all but done with big cost cutting initiatives as they struggle to offset skyrocketing fuel prices.
US Airways failed in May to strike a merger deal with UAL Corp (UAUA.O: Quote, Profile, Research, Stock Buzz) unit United Airlines, raising concern among some experts about US Airways' future. The company has shed nearly 80 percent of its share value this year and traded down 7.6 percent on Wednesday at $3.01. Its market capitalization has slumped to roughly $275 million.
Despite its deteriorating situation on Wall Street, Kirby said: "I feel great about US Airways' stand-alone prospects." (Reporting by Richard Cowan and John Crawley; editing by Carol Bishopric)




© Thomson Reuters 2008 All rights reserved


Bye Bye--General Lee

 

[Colonel Savage]

"Scott Kirby also told CNBC in an interview that major carriers are all but done with big cost cutting initiatives..."

Yeah, companies like AMR, UAL and LCC know that employees aren't going to subsidize any more incompetent management with more wage cuts and QOL concessions.

About time.

 

[iflyhigh]

Lets see what the good ole president has to say at year end. I am willing to place a bet on more cuts. This way they can get rid of more West pilots

 

[PropPiedmont]

Parker buys more US Airways stock

Robert P. Mark
6/18/2008​

[FONT=Verdana, Arial, Helvetica, sans-serif]US Airways chairman and CEO Doug Parker bought 192,000 additional shares of US Airways stock Monday at $2.80 a share, increasing his stock holdings in the airline by 72 percent to 470,055 shares. Parker's purchase totaled $551,500, an amount equivalent to his 2007 salary.[/FONT]

 

[TWA Dude]

We call Kirby "Scooter". 'nuff said

 

[olympus593]

We call Kirby "Scooter". 'nuff said

That funny, Hope he is right...

 

[Deadalus]

Parker buys more US Airways stock

Robert P. Mark
6/18/2008​

[FONT=Verdana, Arial, Helvetica, sans-serif]US Airways chairman and CEO Doug Parker bought 192,000 additional shares of US Airways stock Monday at $2.80 a share, increasing his stock holdings in the airline by 72 percent to 470,055 shares. Parker's purchase totaled $551,500, an amount equivalent to his 2007 salary.[/FONT]

Either he has a buyer for the company or he knows oil is a bubble about to burst. Wonder which one.

 

[TWA Dude]

Parker's golden parachute will more than cover his stock losses. (And BTW if he knows there's a buyer lined up that's called insider trading.)

 

[Deadalus]

Yeah, but who's going to enforce it. When it comes to enforcing anything having to do with the stock market the current administration doesn't have much of a track record.

 

[iflyhigh]

Parker stated on the announcement that he would have to get approval from the board and I am not sure who else, because of the fact he has inside information.

I lay odds that if nothing happens before the first of the year, than this information that Parker would of had, whether its selling the company, or merging, would not be consider inside trading. Simply because of the length of time.