US Airways, Still Slipping, Looks to March 31 | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-11.24.25

AirborneNextGen-
11.18.25

Airborne-Unlimited-11.19.25

Airborne-AffordableFlyers-11.20.25

AirborneUnlimited-11.21.25

LIVE MOSAIC Town Hall (Archived): www.airborne-live.net

Tue, Mar 25, 2003

US Airways, Still Slipping, Looks to March 31

Missing Payments, Still Plans to Emerge From Chapter 11

Although the obvious questions is, "Why?" US Airways is declaring that it's still on track to emerge from Chapter 11 next week.

Last Thursday, some $27 million due -- on over a dozen of the airline's Airbus airliners -- was skipped, as it didn't send a check to Retirement Systems of Alabama, the largest bidder in the airline's emergence plan. RSA, though, has already loaned the failed airline $369 million, and would stand to lose a bunch of that, too, if it calls its notes, as it could, within five business days of Thursday's default.

The airline also missed payments February 20 and March 7, to RSA, for nearly $70 million; there is obviously an "arrangement" in place, or RSA's investors would be screaming bloody murder...

FMI: www.usairways.com

Advertisement

More News

ANN's Daily Aero-Linx (11.25.25)

Aero Linx: Vintage Sailplane Association The purpose of the Vintage Sailplane Association (VSA) is to promote the acquisition, restoration and flying of vintage sailplanes by its m>[...]

NTSB Final Report: Glasair GlaStar

Smoke Began Entering The Cockpit During The Landing Flare, And Then The Pilot Noticed Flames... Analysis: The pilot reported that about 30 minutes into the local flight, he heard s>[...]

ANN FAQ: Turn On Post Notifications

Make Sure You NEVER Miss A New Story From Aero-News Network Do you ever feel like you never see posts from a certain person or page on Facebook or Instagram? Here’s how you c>[...]

Classic Aero-TV: Red Tail Project Update – Taking the Mission to the People

From 2010 (YouTube Edition): The Red Tail Project Continues Effort Towards ‘Rise Above Program’ The Red Tail Project is a true example of this unbreakable spirit. In 20>[...]

Airborne 11.24.25: ANN's 30th!, Starship’s V3 Booster Boom, Earhart Records

Also: 1st-Ever Space Crime Was a Fraud, IAE Buys Diamonds, Kennon Bows Out, Perseverance Rover An interesting moment came about this past Sunday as ANN CEO, Jim Campbell, noted tha>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2025 Web Development & Design by Pauli Systems, LC