Court approves additional investment in US Airways
Mar 31, 2005, 6:33 pm
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Join Date: Jun 2003
Location: Athens, WV, USA; a US cockroach long before it was in FFOCUS; now a lowly US5 for only the 2nd time in 20 years.
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Court approves additional investment in US Airways
The bankruptcy saga continues...
http://www.usatoday.com/money/biztra...vestment_x.htm
Key tidbits...
The BK judge ok's Republic/Chautauqua's $125M investment. They will get at least 19% ownership upon BK exit.
"The company now estimates it will need $350 million, and its deal with Republic is contingent on finding another investor to provide the remaining $100 million."
"The airline's vice president of corporate affairs, Christopher Chiames, says US Airways is talking to several interested parties about investing.
Chiames said the fact that the two investors thus far are regional carriers that could stand to lose business if US Airways goes under does not diminish the significance of their willingness to invest.
"No one's twisting their arm. These are smart business people and they make investment decisions based on what's good for them. We're not a charity case," Chiames said. "
Finally, looks like the June 30 deadline is extended until Aug 31.
http://www.usatoday.com/money/biztra...vestment_x.htm
Key tidbits...
The BK judge ok's Republic/Chautauqua's $125M investment. They will get at least 19% ownership upon BK exit.
"The company now estimates it will need $350 million, and its deal with Republic is contingent on finding another investor to provide the remaining $100 million."
"The airline's vice president of corporate affairs, Christopher Chiames, says US Airways is talking to several interested parties about investing.
Chiames said the fact that the two investors thus far are regional carriers that could stand to lose business if US Airways goes under does not diminish the significance of their willingness to invest.
"No one's twisting their arm. These are smart business people and they make investment decisions based on what's good for them. We're not a charity case," Chiames said. "
Finally, looks like the June 30 deadline is extended until Aug 31.
