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Old Jul 25, 2003 | 9:18 pm
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NeoOfTheCRS
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US Airways settles claims, seeks to keep hub

Here is another with a quote from Dave for the record


US Airways settles claims, seeks to keep hub
Friday July 25, 5:17 pm ET


NEW YORK, July 25 (Reuters) - US Airways said on Friday it has settled all bankruptcy-related claims filed by Allegheny County, Pennsylvania and the Allegheny County Airport Authority with regard to Pittsburgh International Airport, one of its hubs.


The No. 7 U.S. carrier, based in Arlington, Virginia, said the county and airport authority will be granted a $211 million general unsecured claim in its bankruptcy case.

It said they will rank with other unsecured creditors in the distribution of equity under US Airways' bankruptcy reorganization plan. US Airways Group Inc. exited Chapter 11 in March.

US Airways said the agreement resolves all claims, including claims related to rejections of airline operating agreements and terminal lease agreements.

"Now we can focus more of our attention on reaching an amicable agreement with the State of Pennsylvania and Allegheny County to find a way for us to profitably retain our Pittsburgh hub," Chief Executive David Siegel said in a press statement.



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