Manufacturing Industry
US Airways granted more time for reorganization
Airline Industry Information, April 1, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
A US bankruptcy judge on Thursday (31 March) gave US Airways time until 31 May to file a reorganization plan without interference from its creditors.
The previous deadline to submit a reorganization plan was 31 March and the carrier had planned to exit bankruptcy by 30 June. US Airways now says it hopes to exit bankruptcy by 31 August, reported Reuters.
The judge also approved a USD125m investment in US Airways by regional aviation partner Republic Airways Holding Inc and its main investor, Wexford Capital LLC.
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