US Airways Reaches Deal With Another Investor | 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-02.10.25

Airborne-NextGen-02.11.25

Airborne-Unlimited-02.12.25

Airborne-AffordableFlyers-02.13.25

Airborne-Unlimited-02.14.25

Sat, Aug 30, 2003

US Airways Reaches Deal With Another Investor

Agreement To Participate in Private Placement of Stock

US Airways Group Inc. has reached an agreement with Goldman, Sachs to join a private placement of US Airways common stock. Under the transaction, which was announced on Aug. 14, 2003, Aviation Acquisition, LLC agreed to buy some five-million shares of US Airways stock at $7.34 per share. The Goldman Sachs investment will be about $7 million of the approximately $35 million private placement.

The stock sale price of $7.34 per share is consistent with the common share valuation paid by the Retirement Systems of Alabama when it made its equity investment in conjunction with US Airways' emergence from Chapter 11 protection on March 31, 2003, and with the terms of the agreement made with Aviation Acquisition and OCM.

"Goldman Sachs' participation in the private placement with Farallon and Oaktree is a further validation of investor confidence in our company," said David N. Siegel, US Airways president and chief executive officer. "Having three well-known equity investors believe in the restructuring of US Airways is a tremendous first step in re-entering the stock market."

Under the company's restructuring, employees will hold 30 percent of the stock in the airline, and already are 50 percent vested in their stock holdings. The transaction with Goldman Sachs, as well as the remainder of the private placement with Aviation Acquisition and OCM, closed today. The total number of shares will be slightly less than 5.0 million, due to the election by some pilots to pay cash in lieu of having shares withheld for taxes.

US Airways said this private placement is part of its strategy for achieving an orderly return to the equity markets and it continues to explore all options, including a listing of the new stock on a national exchange.

FMI: www.usairways.com

Advertisement

More News

Aero-News: Quote of the Day (02.15.25)

“Our continued growth, both domestically and internationally, is a testament to the strength of our product lineup and the trust our customers place in Piper. The increase in>[...]

ANN's Daily Aero-Linx (02.15.25)

Aero Linx: Cradle of Aviation Museum The Cradle of Aviation Museum is an aviation and spaceflight museum located in East Garden City, New York on Long Island to commemorate Long Is>[...]

ANN's Daily Aero-Linx (02.16.25)

Aero Linx: Museum of Flight - Seattle The Museum of Flight is the largest independent, non-profit air and space museum in the world! With over 175 aircraft and spacecraft, tens of >[...]

Airborne 02.14.25: MASSIVE Year 4 Piper, Martin Mars Fini, EA-18G Down

Also: Chinese Spy Balloon, Astro Homecoming Speeded Up, Flexjet Deal, Laser v Sheriff Chopper Piper Aircraft reported impressive company growth in 2024, hitting its highest deliver>[...]

Aero-News: Quote of the Day (02.16.25)

“The FAA is modifying FAA regulations in a way to help the industry do business with today’s technology...” Source: Scott McCreary, a member of NBAA’s Tax C>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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