Bankruptcy Information





SUBSCRIPTIONS US Air files for bankruptcy Airline gets OK for M in emergency financing shareholders to be wiped out August PM EDT NEW YORK A federal bankruptcy judge approved million in emergency financing Monday to allow bankrupt US Airways Group Inc to restructure its finances and maintain operations through September US Airways filed for bankruptcy Sunday saying it will continue to operate while it tries to restructure its finances and emerge from protection early next year While the company vowed that its customers would not be affected by the filing shareholders are likely to have their holdings wiped out by the filing Shares of < did not trade Monday on the New York Stock Exchange which said trading on the exchange would remain halted while it completes an evaluation of how the stock complies or no longer complies with listing requirements In both pre market and after market trading on Instinet shares were off or percent to cents Other retreated Monday although airline analysts suggested the filing could be good news for other carriers as it gave airlines more leverage in union negotiations on new contracts But concerns that < down to parent of No United Airlines could be

US Airways Files for Bankruptcy September US Airways filed for bankruptcy today after talks with its labor unions broke down It is the second time the troubled East Coast carrier has entered bankruptcy and many analysts think it will be the last US Airways emerged from the first bankruptcy courtesy of a billion loan funded in part by U S taxpayers This time around the carrier may have more trouble arranging financing In the near term the filing should have no effect on travelers The airline will continue to fly its normal routes and honor its reservations while it tries to come up with a reorganization plan Long term US Air faces liquidation if it can't devise a realistic business plan For now there's no reason for fliers to avoid US Airways Anyone who already has a reservation should honor it since normal cancellation fees will continue to apply Even if the airline is forced to liquidate other carriers will be required by law to honor its tickets so travelers would not be stranded though they might encounter delays and disruptions in their planned itinerary It's important to pay for tickets with credit cards since the Fair Credit Billing

Christmas Nightmare For US Airways And Its Passengers December US Airways bankrupt and struggling to survive subjected its customers to hundreds of cancelled flights and thousands of pieces of stranded luggage Christmas weekend While the severe winter weather in the Midwest was a major factor the large number of US Airways employees who called in sick compounded the problems News A spokesman for the airline said US Airways canceled flights on Friday and flights on Christmas day attributing the problems to an unusually high number of flight attendants and other airline employees taking sick days Neither the company nor the union said there was an organized work stoppage or sick out Airline analysts say the problem was more likely the result of an angry and embittered workforce forced to give back contract benefits in order to keep the airline operating The problems began on Thursday when luggage began to pile up at the airline's main hub in Philadelphia because of bad weather in other parts of the country With employees calling in sick US Airways found itself short handed and unable to get caught up A huge backlog of bags that began in Philadelphia grew worse as the holiday

Story Archive Additional Coverage Of US AirwaysUPDATED pm EDT April For the second time in two years US Airways is entering bankruptcy protection The airline filed for Chapter and returned to benkruptcy court Follow the airline's journey of bankruptcy and beyond through the article archive below March March January January December December November November November November November November Ocotber October October October October October September September September September September September September September August August August July July June June May May May May May May March March January January January January December December December December December October October October October October October September September September September September August August August August August August August August August July July July July July July July July July July July July July July July July June June June June June June June June June June June June June June June May May May May May May May May May May May April April April April April April April April April April April April April April April April March March March March February February February February February January January January January January January January January January January January January January January January January

US Airways Airline News Benefits Update Changes for Full Time Student Dependent Children Uncle Sam has made some changes to the federal tax code affecting benefits coverage for older dependent children of employees The government says that children turning anytime in will no longer be eligible for benefits coverage And if your child is turning at any time in he or she must be enrolled full time in an accredited school to qualify for coverage during for more information go to IAM News Links Pittsburgh Charlotte Letters of Understanding The following Letters of Understanding between District and US Airways are in doc format and can be downloaded for printing For Printable Copies of the Layoff Reference Guide and Voluntary Furlough Programs Please Click on these Links Local members at Philadelphia International Airport led by Scott Gilgert Bill Wilson Flavio Carlini Jeff Hayden and Sonny Thorton rally in support of an agreement at US Airways Updates March US Airways Change of Control Update TO All US Airways IAM Fleet Service Members Dear Sisters and Brothers On February US Airways refused to participate in the change of control arbitration scheduled for the following week and asked a bankruptcy court to stop



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