Business Services Industry
US Airways to Unveil Restructuring Plan.
Knight Ridder/Tribune Business News, May, 2002
By Harold Brubaker, The Philadelphia Inquirer Knight Ridder/Tribune Business News
May 14--US Airways Group Inc.'s shares tumbled yesterday for the second day in a row as the company worked on a restructuring plan that is scheduled to be shared with workers later this week.
At the same time, Wall Street continued to absorb the news that the company might file for bankruptcy protection if it does not receive a federal loan guarantee.
"It's just kind of hit home for the market that there could be something imminent here," Carl de Jounge, a Deutsche Bank bond analyst, said yesterday.
"Concessions from unions, lessors, creditors and vendors would have to be quite significant" for US Airways to avoid bankruptcy, he said.
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