Business Services Industry
US Airways again seeks bankruptcy protection.
Knight Ridder/Tribune Business News, September, 2004
By Bill Theobald, The Indianapolis Star Knight Ridder/Tribune Business News
Sep. 13--US Airways, once Indianapolis' leading airline, filed for Chapter 11 bankruptcy protection Sunday -- its second bankruptcy filing since 2002.
The Arlington, Va.-based airline vowed to continue operating while it seeks to trim $1.5 billion in annual spending to compete with low-cost carriers.
But one airline analyst said it is ominous that US Airways, unlike in its first filing, does not have any financing arranged in advance to help itself out of bankruptcy.
"They went in knowing they had these hopes of coming out," said Andrew Vasey, president of Aviation Capital Management in Indianapolis. "I don't know who's out there with a lot of...
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