Key Developments: US Airways Group Inc (LCC)
18.18USD
24 May 2013
$-0.01 (-0.05%)
$18.19
$18.11
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$17.89
2,764,372
7,555,644
$19.70
$9.74
Latest Key Developments (Source: Significant Developments)
US Airways Group Inc's US Airways, Inc Announces Pricing Of $100 Million Aircraft Financing
US Airways Group Inc's US Airways, Inc. announced that it priced an offering of Class C enhanced equipment trust certificates (the Certificates) in the aggregate face amount of approximately $100 million. This offering is an additional issuance from the Company's Series 2012-2 series of enhanced equipment trust certificates, under which an offering of Class A certificates and Class B certificates closed on December 13, 2012. The Company intends to use the proceeds from the offering to reimburse the Company for the cost of the purchase of two Airbus aircraft currently owned by the Company and two Airbus aircraft scheduled to be delivered to the Company prior to the date of issuance of the Certificates, to finance its purchase of seven Airbus aircraft scheduled to be delivered from June 2013 to October 2013 and to use the balance, if any, for general corporate purposes. The $100 million financing is comprised of Class C certificates with a final expected distribution date of June 3, 2018. The Certificates are expected to be issued on June 6, 2013, subject to customary closing conditions. Goldman, Sachs & Co. acted as sole structuring agent and bookrunner for the offering. Full Article
US Airways Group Inc Announces Pricing Of $500 Million In 6.125% Senior Notes Due 2018
US Airways Group Inc announced that the pricing of $500 million of its 6.125% Senior Notes due 2018, which represents an increase of $100 million from the previously announced size of the offering. The notes will be general unsecured senior obligations of US Airways. The Company intends to use the proceeds from the senior notes offering for general corporate purposes. Citigroup, Barclays, Goldman Sachs & Co., Morgan Stanley, and Credit Suisse acted as the joint book-running managers for the offering. Full Article
US Airways Group Inc Announces Offering Of $400 Million In Senior Notes Due 2018
US Airways Group Inc announced intention to make an offering, of $400 million of senior notes due 2018. The notes will be general unsecured senior obligations of US Airways. The Company intends to use the proceeds from the senior notes offering for general corporate purposes. Citigroup, Barclays, Goldman Sachs & Co., Morgan Stanley, and Credit Suisse are the joint book-running managers for the offering. Full Article
US Airways Group Inc's PSA Airlines Pilots Ratify New Contract
Pilots at PSA Airlines, a wholly-owned subsidiary of US Airways Group Inc, represented by the Air Line Pilots Association (ALPA) announced that they have voted to ratify a new five-year collective bargaining agreement that was reached on February 14. The new contract was ratified by the airline's 515 ALPA-represented pilots who are based in Dayton, Ohio; Knoxville, Tenn. and Charlotte, N.C. Details of the agreement will be made available by ALPA. Full Article
AMR Corp-US Airways Group Inc Merger Gets Court Approval-Reuters
Reuters reported that AMR Corp, American Airlines' bankrupt parent, has received court approval to merge with US Airways Group Inc and create the airline. But one clause in the merger agreement - a $19.9 million severance package for Tom Horton, AMR's outgoing chief executive - was not approved by the judge at a hearing in U.S. Bankruptcy Court in Manhattan. Full Article
AMR Corp And US Airways Group Inc Merger Gets Board Approval-Reuters
Reuters reported that The boards of AMR Corp and US Airways Group Inc each met on February 13, 2013. to approve a merger. The all-stock merger, which is set to be announced early on February 14, 2013. AMR's bankruptcy creditors will own 72% of the combined airline, which will do business under the American Airlines brand and be based in Fort Worth, Texas. US Airways shareholders will own the rest. The merged company will have a board of 12 members: four from US Airways including its chief executive Doug Parker, three from AMR including chief executive Tom Horton and five to be designated by the AMR creditors. US Airways declined to comment while AMR representatives could not be immediately reached for comment. Full Article
US Airways Group Inc And Association Of Flight Attendants Reach Tentative Agreement
US Airways Group Inc announced that it has reached a new tentative agreement on a collective bargaining agreement with the Association of Flight Attendants (AFA), which represents the airline's 6,800 mainline flight attendants. Details of the agreement will be made available by AFA. If ratified, the tentative agreement would cover the airline's 6,800 mainline flight attendants, who are based in US Airways' three hub cities of Phoenix, Philadelphia and Charlotte, N.C., and in its Washington, D.C. focus city. Full Article
US Airways Group Inc And South African Airways Announce Customer Travel Options Through New Codeshare Agreement
US Airways Group Inc and fellow Star Alliance member South African Airways announced a new bilateral codeshare agreement after receiving approval from the U.S. Department of Transportation and the Department of Transport – South Africa . US Airways customers will gain access to destinations throughout South Africa with the new agreement and to Dakar, Senegal pending final government approval, along with the convenience of a single-ticket purchase. Conversely, customers traveling on South African Airways will also receive expanded access to and throughout the United States. US Airways customers will continue to have the ability to earn and redeem Dividend Miles on these new codeshare flights. South African Airways customers will also continue to earn and redeem miles as a member of the Voyager Frequent Flyer program. Full Article
AMR Corp And US Airways Group, Inc Announce Non-Disclosure Agreement
AMR Corp and US Airways Group, Inc announced that they have entered into a non-disclosure agreement, under which the companies have agreed to exchange certain confidential information and, in close collaboration with AMR's Unsecured Creditors Committee, to work in good faith to evaluate a potential combination. The companies do not expect to provide any further announcements regarding the status of any such discussions unless and until the parties have entered into a transaction or discussions between the parties have been terminated. Furthermore, AMR and US Airways have each agreed while they are evaluating a potential combination that they and their representatives will not engage in discussions with other parties concerning a potential combination of AMR and US Airways. The companies noted that there can be no assurance that a transaction will result from these discussions. Full Article
US Airways Starts Service To Five Communities From Washington, D.C.'s Reagan National Airport
US Airways announced non-stop service to five new communities from Washington, D.C.'s Reagan National Airport Augusta, Ga., Minneapolis, Minn., Fayetteville, Ark., Montreal and Toronto. In addition to the new service, US Airways has re-timed its daily non-stop flight between Reagan National and San Diego that began on June 8. Starting today, the flight, which was previously operated at night on 124-seat Airbus A319 aircraft, will depart Washington, D.C. at 8:55 a.m. and San Diego at 12:30 p.m. and will be operated on 150-seat Airbus A320 aircraft. Full Article
US Airways plane makes unusual belly landing at Newark airport
NEWARK, New Jersey - A US Airways flight made an emergency landing on its belly at Newark Liberty International Airport early on Saturday after the plane's landing gear failed to deploy, but no one was injured, airline and government officials said.
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