Manufacturing Industry
ATSB sells stock warrants back to US Airways
Airline Industry Information, Oct 4, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
The Air Transportation Stabilization Board (ATSB), a US government agency, has revealed plans to sell its stock warrants in the merged US Airways.
The airline was formed last week by the merger of US Airways and America West Airlines.
The US Treasury Department and the airline said on Monday (3 October) that the ATSB would sell its stock warrants for USD115.8m. The warrants, which represent rights to purchase 7.7m shares at USD7.27 per share, will be repurchased by US Airways.
Proceeds from the transaction will go to the US Treasury, Reuters reported.
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