US Airways back out of bankruptcy
Tuesday, 27 September 2005US Airways has formally emerged from bankruptcy protection and completed a merger with low-cost carrier America West that creates the fifth largest US airline.
US Airways emerged from creditor protection for the second time since 2002 and the new merged carrier began trading on the New York Stock Exchange under the symbol LCC. The new group adopted the US Airways name.
Although analysts have expressed concerns about the prospects of the new airline, company officials say it will be 'the nation's largest full-service, low-cost, low-fare airline'.
It will strive to combine elements of the low-cost America West structure with a wider range of services of the more traditional US Airways. The move comes after bankruptcy filings by the third and fourth US carriers, Delta Air Lines and Northwest Airlines. United Airlines meanwhile is seeking to emerge from bankruptcy protection in early 2006.
