Business Services Industry
US Airways again files for bankruptcy protection.
Knight Ridder/Tribune Business News, September, 2004
By Bill Hensel Jr., Houston Chronicle Knight Ridder/Tribune Business News
Sep. 11--In another sign of the troubles facing the nation's biggest airlines, US Airways filed Sunday for Chapter 11 bankruptcy protection for the second time since 2002.
The airline, which has been unable to win any more cuts from its employee groups, filed for protection from creditors in the U.S. Bankruptcy Court in Alexandria, Va. It will be far harder for the Arlington, Va.-based carrier to emerge again because this time it is not expected to be able to raise any additional money.
Veteran airline analyst Ray Neidl of Calyon Securities on Sunday gave the nation's seventh-largest air carrier about a 50-50 chance of surviving bankruptcy.
US Airways...
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