joe_s
Jan 27, 04, 1:03 pm
http://www.forbes.com/business/newswire/2004/01/27/rtr1228982.html
Four airlines bid for US Airways assets-sources
By Kathy Fieweger
CHICAGO (Reuters) - Four U.S. airlines have bid on various assets put on the block by US Airways, including American Airlines, which wants the East Coast shuttle, according to banking sources familiar with the matter.
...
Executives at American Airlines parent AMR Corp., which recently reported a much narrower fourth-quarter loss, have sought the shuttle for years, said the sources, who requested anonymity. In 1997, American bid about $300 million for the shuttle.
...
The shuttle, which flies between New York, Washington, D.C. and Boston, is expected to fetch around $100 million to $150 million, they said.
...
Bids were submitted last Thursday, according to bankers, and the US Airways board is to meet in early February to review the proposals.
...
EXPLORATORY PROCESS
US Airways spokesman David Castelveter said the company has acknowledged that it has begun an "exploratory process" regarding its financial options but added: "We have not made a decision to sell any assets."
Also bidding on different pieces of US Airways assets are JetBlue Airways Corp., Delta Air Lines Inc. and AirTran Holdings Inc.
...
(Additional reporting by Meredith Grossman Dubner)
Copyright 2004, Reuters News Service
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AA EXP 1MM, DL Silver, HH Diamond, Marriott GLD, Starwood PLT, Hyatt PLT
Four airlines bid for US Airways assets-sources
By Kathy Fieweger
CHICAGO (Reuters) - Four U.S. airlines have bid on various assets put on the block by US Airways, including American Airlines, which wants the East Coast shuttle, according to banking sources familiar with the matter.
...
Executives at American Airlines parent AMR Corp., which recently reported a much narrower fourth-quarter loss, have sought the shuttle for years, said the sources, who requested anonymity. In 1997, American bid about $300 million for the shuttle.
...
The shuttle, which flies between New York, Washington, D.C. and Boston, is expected to fetch around $100 million to $150 million, they said.
...
Bids were submitted last Thursday, according to bankers, and the US Airways board is to meet in early February to review the proposals.
...
EXPLORATORY PROCESS
US Airways spokesman David Castelveter said the company has acknowledged that it has begun an "exploratory process" regarding its financial options but added: "We have not made a decision to sell any assets."
Also bidding on different pieces of US Airways assets are JetBlue Airways Corp., Delta Air Lines Inc. and AirTran Holdings Inc.
...
(Additional reporting by Meredith Grossman Dubner)
Copyright 2004, Reuters News Service
------------------
AA EXP 1MM, DL Silver, HH Diamond, Marriott GLD, Starwood PLT, Hyatt PLT