Business Services Industry
US Airways Emerges from Bankruptcy Protection.
Knight Ridder/Tribune Business News, April, 2003
By James P. Miller, Chicago Tribune Knight Ridder/Tribune Business News
Apr. 1--US Airways Group Inc. emerged from Chapter 11 bankruptcy as planned Monday--and immediately began battling the same financial headwinds that drove it into bankruptcy court just seven months ago.
A dropoff in business travel, a big jump in post-9/11 security costs, soaring fuel prices and the U.S. economy's coinued shakiness have combined to hammer the entire airline industry. More recently, the war in Iraq has caused bookings to drop even further, putting even more financial pressure on airlines.
In August, Arlington, Va.-based US Airways, hampered by one of the highest cost structures in its industry, became the first major airline to succumb to the toxic...
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